Great Streets meeting recap

[from Michelle Escumbise]

GREAT STREETS meeting (held 9/19 @ at Raymond ES)

Derrick Woody and Michael Jasso of the District’s Office of the Deputy Mayor for Planning and Development hosted a forum on the proposed Great Streets “Tax Increment Finance” (TIF) initiative for redevelopment of the Georgia Avenue corridor from Kenyon to Varnum Streets NW. DC’s aim is to make a Georgia Ave. that is a vibrant “18 hour environment”, with unique retail markets, more sit-down eateries, and rehabilitated existing buildings and facades. All issues discussed are pending and will need to be put forth to the DC City Council and implemented. The projected start for the initiative, if passed, is fall of 2007.

A small group of Georgia Ave. residents and small business owners, real estate agents and one developer were in attendance. Several of the small business owners voiced concerns about not being eligible for grant funds, being pushed out of the area and not being able to compete with new business.

It was stressed in the meeting that TIF is not an additional tax on current residents, but is actually based on projected taxes for a given time frame. Jasso estimated that the projected TIF investment for Ga. Ave. would be in the neighborhood of “$2-8 million”. Once the funding is passed by the city council, a call for grant applicants would be made.

For more info please contact:
[email protected] (202.727.2981)
[email protected] (202.724.7014)