From the Washington Business Journal
: "The D.C. Council may consider withdrawing millions of dollars in subsidies from stalled city real estate projects to publicly finance a convention center hotel. 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 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 list names both the PILOT fundings for Capper
($55 million) and the Yards
($30 million), though I'm not sure exactly how that would work, given that some of that money is already going to the construction currently underway at Capitol Quarter
, the Park at the Yards
, and Diamond Teague Park
. (Though the $30 million cited for the Yards/DOT PILOT is a lot less than the total $112 million sum received from that PILOT; the Capper $55 million, though, is the full amount of that PILOT.) There's a hearing now scheduled for June 24.
In the "What Does This Mean for Capper?" department: The funding is in place to finish Phase I of the Capitol Quarter townhomes now under construction (unless the council is *really* grabby), but the Housing Authority has been having a hard time looking for funding for CQ's second phase as well as the four mixed-income apartment buildings
slated to be built around Canal Park. So I'm *guessing* that the money the council is wanting to grab would further delay that work? But I'm not sure, because I don't know exactly how much of the PILOT's $55 million is already spent or being spent just on CQ's first phase.
The two parks, as well as some other projects along the Anacostia Waterfront, are tied to what my archives say
was a $112 million PILOT from the construction of the US Department of Transportaton HQ
. I just confirmed earlier today that Diamond Teague is still on schedule for a mid-July opening, and given all the flourishes (such as the groundbreaking
) of the public/private partnership for the Park at the Yards I would think they wouldn't grab that money away. (I was wrong in an early version of this post to say that Canal Park was part of the DOT PILOT; it was originally, but not in the final version
, apparently.) The DOT PILOT is also supposed to fund
Marvin Gaye Park and Kingman Island; and DMPED said at the time that "Funds could also be used to finance parks and infrastructure at Poplar Point, the Southwest Waterfront, the Southwest Waterfront Fish Market, along South Capitol Street and a pedestrian bridge connecting the Parkside neighborhood to the Minnesota Avenue Metrorail Station."