Great Streets Initiative Convenes Meetings about Potential Neighborhood Tax Increment Financing Districts

From Derrick Woody, Coordinator - Great Streets Initiative, Office of the Deputy Mayor for Planning and Economic Development:

The Great Streets Initiative within the Office of the Deputy Mayor for Planning and Economic Development (DMPED) will convene a series of meetings to discuss the potential for four Neighborhood Tax Increment Financing (TIF) sub-districts along the designated Great Streets corridors. TIF involves earmarking certain real property and sales taxes within an area to pay for public and private investments. This public / private partnership tool allows the District to pledge future tax revenues-revenues not already committed to meeting citywide operational needs or debt service-to support private investment in key redevelopment projects in addition to supplemental infrastructure and public space improvements.

An overview of TIF and how it works as well as technical analysis about the estimated potential revenue streams for each respective proposed TIF sub-district will be presented to an audiences composed of property and business owners, developers, and neighborhood and business associations. Attendees will be asked to provide input on how the District might prioritize spending within their sub-districts.

Meeting information for the four proposed sub-districts is as follows:

H Street NE (2nd Street, NE to 17th Street, NE)*
Tuesday, September 12, 2006, 6 pm to 8 pm
Atlas Performing Arts Center, 1300 Block of H Street, NE

Martin Luther King, Jr. Avenue, SE and South Capitol Street (Ridge Place, SE to Danbury Street, SW)*
Wednesday, September 13, 2006, 6 pm to 8 pm
Thurgood Marshall Academy, 2427 Martin Luther King, Jr. Avenue, SE

Georgia Avenue – Petworth / Park View (Kenyon Street, NW to Varnum Street, NW)*
Tuesday, September 19, 2006, 6 pm to 8 pm
Raymond Elementary School, 915 Spring Road, NW

Georgia Avenue – 7th Street, NW (O Street NW to Howard Place NW)*
Thursday, September 21, 2006, 6 pm to 8 pm
Housing Finance Agency, 815 Florida Avenue, NW

The links above connect to the individual meeting flyers and a map of each of the proposed Great Streets - Neighborhood TIF districts. Please help publicize these meetings. Pass the word on!

Similar districts are also to be analyzed at a future date for Pennsylvania Avenue SE, the Minnesota Avenue - Benning Road NE and other Great Streets areas.

Index Keywords: urban-revitalization