THE MYTH OF URBAN ECONOMIC DEVELOPMENT

Nothing illustrates the faillure of traditional urban economic development planning than Washington's new baseball stadium funded with nearly $700 million of public dollars. DC has spent several billions on a stadium, a sports arena and two convention centers, among other things. The payoff: fewer DC residents employed than in the mid 1980s.

Washington Examiner - It was not supposed to be this way. When Major League Baseball awarded ownership of the Washington Nationals to Theodore Lerner and his family on May 3, 2006, the team's prospects never looked brighter. Finally under local control after years of neglect in Montreal and during its first season in the District, the franchise promised to really take off in 2008, when a brand-new stadium would be built on the banks of the Anacostia River. The minor-league system would soon be stocked with homegrown talent, and when the club was ready to win, it could go after select free-agent stars.

Last month, Ted Lerner and his family marked their three-year anniversary as stewards of Washington baseball. But their plan is not working - at all. The Nats are again awful, headed for a second consecutive 100-loss season. Attendance has plummeted in the second year at Nationals Park, dropping from 19th in the majors to 27th. And television ratings - while up 56 percent as of last month - are still the sport's worst (12,000 households per game). . .