Posts tagged Tif
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Breakfast links: The constant skyline
No height increases in L’Enfant City; Inner Harbor improvements; New development may fund housing; Microsoft is coming to St. Elizabeths; Further details emerge on FBI site; Opposition threatens King Street bike lanes; The future of retailing; HOT lanes’s first birthday; And…. Keep reading…
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Private-private partnerships may hold key to revitalization
With local governments exercising more caution about investing public dollars in development projects, partnerships among diverse private interests have become increasingly important the financing of the infrastructure improvements needed to support development. The most prevalent form of public-private partnerships for urban redevelopment has long been tax increment… Keep reading…
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Don’t waste public money to woo Bloomingdale’s
Both Mayor Vincent Gray and Council Chair Kwame Brown may want to use tax increment financing to lure a high-end tenant like Bloomingdale’s to the Georgetown Park mall, the Current reported. That’s a foolish policy. In tax increment financing (“TIF”), the city issues bonds for a particular project and gives the money to a private developer. A portion… Keep reading…
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What can DC learn from its successful subsidies?
New data from the Office of the DC CFO reveals that the initial wave of development subsidies, such as Gallery Place, have repaid to the city well ahead of schedule. While excellent news for the city’s finances, these subsidies also provide important lessons that some present-day corporate subsidies don’t always follow. The hefty return to the city’s… Keep reading…