Asbestos Concerns at Washington Ballpark and Subsequent Approval Resolution
The real estate and other assets subject to the approval resolution to transfer ownership to WDC Baseball Partners included concerns about the presence of asbestos at the Washington, D.C. site. Asbestos is a known carcinogen, and exposure to asbestos is known to cause serious diseases such as mesothelioma, asbestos-related lung cancer and asbestosis.
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The resolution transfers real property interests within the ballpark site from the District to WDC Baseball Partners, LLC, to construct a development that will include 925 spaces of stadium parking; team retail; 660 residential units, with some portion of those affordable; a 180-room hotel; 25,000 square feet of retail; and approximately 680 private parking spaces.
This transfer will include obligations on the part of the developer to complete the stadium parking by opening day in 2008 and to pay market value for the development rights, subject to deductions for non-standard development costs that may be imposed by the District.
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