Georgia Avenue Great Streets/O Street Market Among Possible Victims to Convention Center Hotel Deal

Northern Market aka O Street MarketThe Washington Business Journal reported on June 16th that the D.C. Council is considering withdrawing millions of dollars in subsidies from stalled city real estate projects to publicly finance the convention center hotel. You can read the entire article here>>

The article continues by stating that …

D.C. Chief Financial Officer Natwar Gandhi met with members of the D.C. Council on Monday and discussed the list of projects with $704 million in subsidies that have already been passed and could be diverted to the hotel. The list provided by the CFO’s office includes the Southwest waterfront, the Arthur Capper/Carrollsburg residential development on the Capitol Riverfront, the mixed-use O Street Market in Shaw and seven other economic development incentives.

The entire list of already approved projects at risk includes:

  • Southwest waterfront, $198 million;
  • Housing Production Trust Fund, $190 million;
  • Great Streets retail priority area (neighborhood tax increment financing), $75 million;
  • Capper/Carrollsburg payment-in-lieu-of-taxes, $55 million;
  • O Street Market, $46.5 million;
  • Skyland Shopping Center, $40 million;
  • The Yards payment-in-lieu-of-taxes, $30 million;
  • Great Streets, $20 million;
  • Downtown retail priority area, $16.05 million;
  • Fort Lincoln retail priority area, $10 million;
  • Arena Stage, $10 million;
  • Rhode Island Place retail priority area, $7.2 million; and
  • Broadcast Center One, $6.4 million.

I’m particularly concerned about Georgia Avenue, as this would not be the first, but second time that funds allocated for its renewal have been redirected.

At the last ANC1A meeting, a representative from the Deputy Mayor’s office stood before the assembly and admitted that the money originally set aside for Georgia Avenue had be redirected to pay for H Street, NE, redevelopment. He continued that nearly all of the funding needed to replace that allocation had been secured so that Georgia Avenue could get back on track.

Now, it seems that those statements may have been premature. After contacting Councilmemeber Graham, he stated that he was unaware of any plans to redirect Georgia Avenue Great Streets money and that we would be opposed to any plan that did so.

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