{"id":377,"date":"2019-07-02T21:42:10","date_gmt":"2019-07-02T21:42:10","guid":{"rendered":"http:\/\/www.dcfeedback.com\/archives\/?p=377"},"modified":"2019-07-03T02:25:12","modified_gmt":"2019-07-03T02:25:12","slug":"william-jordan-analysis-breaking-down-d-c-s-50b-development-pipeline","status":"publish","type":"post","link":"http:\/\/www.dcfeedback.com\/archives\/377\/","title":{"rendered":"William Jordan Analysis: Breaking Down D.C.’s $50B Development Pipeline"},"content":{"rendered":"

This was originally posted to the Adams Morgan Listserv on December 14, 2018, as message #50185, groups.yahoo.com\/neo\/groups\/AdamsMorgan\/conversations\/messages\/50185<\/a><\/p>\n

This article highlights the industry that the Mayor and City Council have determined is in need of continued public subsidy.<\/p>\n

Breaking Down D.C.’s $50B Development Pipeline
\nwww.bisnow.com\/washington-dc\/news\/economic-development\/breaking-down-dcs-development-pipeline-95810<\/a><\/p>\n

William<\/p>\n

—–Original Message—–
\nFrom: whj@…
\nSent: Friday, December 14, 2018 11:53am
\nTo: “Nadeau, Brianne K. (Council)” , “Mendelson, Phil (COUNCIL)” , “McDuffie, Kenyan (Council)” , “Cheh, Mary (COUNCIL)” , “Bonds, Anita (Council)” , “rwhite@…” , “White, Sr., Trayon (Council)” , “Allen, Charles (Council)” , “esilverman@…” , “Todd, Brandon (Council)” , “Kenner, Brian (EOM)”
\nCc: “columbia_heights@yahoogroups.com<\/a>” <columbia_heights@yahoogroups.com<\/a>>, ” southcolumbiaheights@yahoogroups.com<\/a>” <southcolumbiaheights@yahoogroups.com<\/a>>, “Adams Morgan” <adamsmorgan@yahoogroups.com<\/a>>
\nSubject: DC City Council Weak on Racial Equity & Justice<\/p>\n

On Dec 4th the DC City Council approved <www.washingtoncitypaper.com\/news\/loose-lips\/article\/21035400\/will-dc-give-millions-in-tax-cuts-to-company-with-a-record-of-racially-discriminatory-hiring-practices<\/a>> the “Local Jobs and Tax Incentive Amendment Act of <lims.dccouncil.us\/Download\/40684\/B22-0918-Engrossment.pdf<\/a>>
\n2018 <lims.dccouncil.us\/Download\/40684\/B22-0918-Engrossment.pdf<\/a>>” which among other things will give a $5.9M property tax abatement to a company, Chemonics, which was fined by the US Department of Labor <www.dol.gov\/newsroom\/releases\/ofccp\/ofccp20161005<\/a>> for its bias against qualified African-American job applicants. An abatement the CFO’s Office says given the profit levels of Chemonics the company does not need <cfo.dc.gov\/sites\/default\/files\/dc\/sites\/ocfo\/publication\/attachments\/TAFA_Amendment%20to%2022-918%20–%20Chemonics.pdf<\/a>>. The abatement is also being pushed by the Mayor through the Deputy Mayor for Planning and Economic Development (DMPED).<\/p>\n

The Council voted 8-2-2-1 in favor of the tax abatement despite the company’s discriminatory record.<\/p>\n

Mendelson, Evans, Bonds, Nadeau, Allen, Gray, Todd & Cheh voted “YES”
\nT White and Silverman voted “NO”
\nR White and Grosso voted “PRESENT”
\nMcDuffie was absent.<\/p>\n

The Local Jobs and Tax Incentive Amendment Act of 2018″ also provides a $20 million for EAB Global, Inc.. The CFO has also determined that EAB Global like Chemonics does not need a tax abatement. This deal began life in 2015 as a $60M property tax abatement to Advisory Board Inc. to great jobs. Instead after receiving the abatement The Advisory Board cut jobs <www.bizjournals.com\/washington\/news\/2017\/01\/17\/advisory-board-just-laid-off-more-than-200-people.html<\/a>>, hires an investment banker <www.bizjournals.com\/washington\/news\/2017\/02\/06\/advisory-board-confirms-it-is-evaluating-a.html<\/a>> and sells itself for $2.58B dollars <www.bizjournals.com\/washington\/news\/2017\/11\/16\/advisory-board-shareholders-sign-off-on-optum-deal.html<\/a>>. In fact according to a OCFO report , EAB Global’s employment count in the District as gone down from 664 in October of 1, 2017 to 636 as of October 2018. Clearly this is not about improving employment especially for DC’s African-American residents whose unemployment rate is 12.9% compared to 1.5% for Whites.<\/p>\n

We only need dig a little deeper to see that the “Local Jobs and Tax Incentive Amendment Act of
\n2018” should be called the “Brookfield Properties Tax Incentive Amendment Act of 2018” as the tax incentive for Chemonics and EAB Global are designed to create incentives for them to sign leases at Brookfield Properties owned projects at 655 New York Avenue <www.bizjournals.com\/washington\/breaking_ground\/2015\/11\/exclusive-douglas-development-seeking-new-partner.html<\/a>> and The Yards (acquired from Forest City in a $6.8B deal this July) respectively.<\/p>\n

On Dec 18th the City Council with the support of the Mayor will give away about $26M dollars as a reward to big business for bias against African-American job seekers, doing $9.38B financial transactions and lost 28 jobs in DC.<\/p>\n

Unfortunately is seems that the Council talks a good Racial Equity & Justice <lims.dccouncil.us\/Download\/38922\/PR22-0524-Introduction.pdf<\/a>> game, but when it come to money, financial equity, equity does not include most DC residents, especially African-Americans. And Mayor want’s to amend the Comp Plan to make deal like the “Brookfield Properties Tax Incentive Amendment Act of 2018” easier.<\/p>\n

William<\/p>\n","protected":false},"excerpt":{"rendered":"

This was originally posted to the Adams Morgan Listserv on December 14, 2018, as message #50185, groups.yahoo.com\/neo\/groups\/AdamsMorgan\/conversations\/messages\/50185 This article highlights the industry that the Mayor and City Council have determined is in need of continued public subsidy. Breaking Down D.C.’s $50B Development Pipeline www.bisnow.com\/washington-dc\/news\/economic-development\/breaking-down-dcs-development-pipeline-95810 William —–Original Message—– From: whj@… Sent: Friday, December 14, 2018 11:53am […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-377","post","type-post","status-publish","format-standard","hentry","category-housingarchive"],"_links":{"self":[{"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/posts\/377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/comments?post=377"}],"version-history":[{"count":0,"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/posts\/377\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/media?parent=377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/categories?post=377"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.dcfeedback.com\/archives\/wp-json\/wp\/v2\/tags?post=377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}