$95 Million Available for Neighborhood Revitalization

Key DC neighborhoods now eligible for Great Streets funding

(Washington, DC) – On July 10, 2007, the DC Council approved the “Great Streets Neighborhood Retail Priority Areas Approval Resolution of 2007,” which At-Large Councilmember Kwame R. Brown supported. The resolution authorized $95 million for mixed use and retail development projects within the Great Streets corridors. This morning, Mayor Adrian M. Fenty announced that the Office of the Deputy Mayor for Planning and Economic Development (DMPED) is accepting applications for funding until April 18, 2008. The funding is targeted to key DC neighborhoods including:

• $10 million for Martin Luther King, Jr. Avenue SE/South Capital Street;
• $25 million for H Street NE;
• $25 million for 7^th Street/Georgia Avenue NW;
• $10 million for Petworth;
• $15 million for Minnesota-Benning; and
• $10 million for Pennsylvania Avenue SE.[1]

“Revitalizing our neighborhoods outside of downtown has been one of my top priorities as Chair of the Committee on Economic Development,” said Brown. “Residents consistently told me how they need more retail in their local neighborhoods. I’m glad to see that Mayor has taken action on implementing this important program and look forward to seeing the improvements first hand.”

Brown authored measures in the Council that will address the need to revitalize our neighborhoods. He authored the “Neighborhood Neighborhood Commercial Corridor Tax Relief Strategy Act of 2007” (B17-369) to address this need. The purpose the act is to require the Mayor to create a tax relief strategy for all D.C. neighborhood businesses within a commercial corridor that are economically impacted by the road infrastructure construction performed by the District Department of Transportation. To address blighted areas in our neighborhoods, he authored a friendly amendment to Councilmember Cheh’s “Nuisance Property Abatement Act of 2007” (B17-455) that would increase from $5 to $10 per $100 of assessed value, the tax the city charges for class 3 commercial properties that are vacant. The intent of the amendment is to prod property owners to sell or develop the vacant property, while simultaneously increasing city tax revenues.

According to the notice released by DMPED, “Applications must be received at ODMPED on or before 3:00 p.m. Eastern Standard Time, Friday, April 18, 2008.” For more information, contact Derrick Lanardo Woody at derrick.woody@dc.gov or 202-727-6703.

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[1] Source: Notice of Funding Availability: Great Street Neighborhood Retail Tax Increment Financing (TIF), January 29, 2008; District of Columbia Office of the Deputy Mayor for Planning and Economic Development.