Near Southeast DC: Past News Items - Sep 22, 2007
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DOT Payments to Fund Waterfront Parks
Sep 22, 2007 9:59 AM
On Thursday the Office of the Deputy Mayor for Planning and Economic Development announced that a $111.5 million bond financing package has been finalized that will use payments in lieu of taxes (PILOT) by the developer of the new US Department of Transportation HQ on M Street to "significantly" fund four parks along the Anacostia River. Two of the parks are in Near Southeast: the 5.5-acre waterfront park at The Yards, scheduled to be opened in 2010, and Diamond Teague Park, at the foot of First Street across from the new baseball stadium. (Kingman Island and Marvin Gaye Park are also on the list, and the press release notes that this funding 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.") The announcement also mentions how the city never received any sort of tax income from the old DOT HQ in Southwest, since the federal government doesn't pay taxes on land it controls in DC. I wrote more about this PILOT package when the bill passed the city council in July.
More posts: Teague Park, The Yards

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