VIEW 14 ECONOMIC DEVELOPMENT ACT OF 2009".
http://www.dccounci l.washington. dc.us/images/ 00001/2009010816 1933.pdf
When I going through the schedule to find the time and date of the DDOT
Performance & Budget Hearing, I came across a hearing for a bailout plan
for the View 14 Condo development at 14th St & Florida Ave. NW for
$5.7M or $11.4M is opportunity costs are included(such projects were
pedaled as increasing the tax base not taking away from it.).
My first question has to do with the affordable housing component of the
bailout. The legislation talks about setting aside 6000sqft as
affordable to those making up to 80% of AMI or about $72K/yr. I
searched through the PUD hearing transcript and found that 15,000sqft
was proffered for the affordable component. Is the 6000sqft in addition
to the 15,000sqft or is it a reduction?
My second question has to do with the approach to this bailout. I've
noticed that tax waviers from real estate and transfer taxes is commonly
being used to achieve public policy goals. Usually, this has been none
for non-profits and public/private partnerships, but more and more for
purely commercial developments. My question , is anyone aware any
legislation like this in the pipeline or on the bookss to support the
development of our small business retail corridors such as the 1400
block of Park Rd., 14th St North of the Tivoli, 11th St or Georgia Ave?
Based on presentations I've seen I kow that the business on the 1400
Block of Park or the small businesses going into DC USA could use such a
boost.
William
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