DC Spending $6M in tax credits on a community hospital...in Los Angeles.

[Anonymous]

This is such a DC story. DC is so consumed with nonsense that it cannot even ensure that the money it is spending is spent in DC.

D.C. is allocating $6 million in tax credits to a community hospital. The only problem is, that hospital is located in a different community, more than 2,600 miles away, in south central Los Angeles.

So would I be correct in assuming that there is no list of spending priorities maintained by the city specifically to ensure things like this do not happen?

https://washingtoncitypaper.com/article/504177/6-million-to-la/

Instead of rushing to find something to spend money on, you simply move to the next approved priority.

The D.C. Housing Authority Board of Commissioners voted in an emergency meeting last Friday to send $6 million in new market tax credits across the country. The funds must be allocated by the end of the calendar year, or else the District risks losing out on future tax credits from the federal program in the future. D.C. Housing Enterprises, a nonprofit subsidiary of the housing authority, administers the tax credits and has given out $122 million worth since 2009. The housing authority board voted to approve sending the credits to L.A., rather than using them on a local project.

[Anonymous]

Anonymous wrote:This is such a DC story. DC is so consumed with nonsense that it cannot even ensure that the money it is spending is spent in DC.

D.C. is allocating $6 million in tax credits to a community hospital. The only problem is, that hospital is located in a different community, more than 2,600 miles away, in south central Los Angeles.

So would I be correct in assuming that there is no list of spending priorities maintained by the city specifically to ensure things like this do not happen?

https://washingtoncitypaper.com/article/504177/6-million-to-la/

Instead of rushing to find something to spend money on, you simply move to the next approved priority.

The D.C. Housing Authority Board of Commissioners voted in an emergency meeting last Friday to send $6 million in new market tax credits across the country. The funds must be allocated by the end of the calendar year, or else the District risks losing out on future tax credits from the federal program in the future. D.C. Housing Enterprises, a nonprofit subsidiary of the housing authority, administers the tax credits and has given out $122 million worth since 2009. The housing authority board voted to approve sending the credits to L.A., rather than using them on a local project.

And if you tried to shrink their budget, they'll cry that they don't have enough funding. And also, the person who is trying to shrink their budget is racist, sexist, homophobic, xenophobic, vile, and evil - comparable to Hitler.

[Anonymous]

They were spending Federal credits, so the requirements are pretty specific. But yes, it is a total joke.

For a city that wants to be a state that is so dependent of Federal funding as a component of its overall budget, DC should be the masters at advocating for and spending Federal credits.

I am surprised that there is actualy not a Federal credits/grants clearinghouse within the bureacracy of the city govt.

But you just need to move on OP. It is easier for DC to scream for more money than to use the money it has that has requirements. Just like your school wants funds donated for its general fund and not the library or whatever.

[Anonymous]

This makes me want to cry. There is so much wrong in this city. They couldn’t find SOME way to spend the money locally? At least the money is going somewhere and they didn’t just lose it.

[Anonymous]

Anonymous wrote:They were spending Federal credits, so the requirements are pretty specific. But yes, it is a total joke.

For a city that wants to be a state that is so dependent of Federal funding as a component of its overall budget, DC should be the masters at advocating for and spending Federal credits.

I am surprised that there is actualy not a Federal credits/grants clearinghouse within the bureacracy of the city govt.

But you just need to move on OP. It is easier for DC to scream for more money than to use the money it has that has requirements. Just like your school wants funds donated for its general fund and not the library or whatever.

THIS is why I don't want us to be a state. We suck at the government's teat (and should be grateful), as even then we are inefficent.

[Anonymous]

Wow! Did you read about the actual project management for the Strand Theater? It sounds like a complete dumpster fire. Unfortunately it is because of projects like this that the Fed has to put so many requirements down in the first place.

[Anonymous]

Anonymous wrote:Wow! Did you read about the actual project management for the Strand Theater? It sounds like a complete dumpster fire. Unfortunately it is because of projects like this that the Fed has to put so many requirements down in the first place.

I'm so grateful for the Fed. it's what makes this city liveable/.

[Anonymous]

Entire Strand Theater project looks like a scam. Everybody getting rich and the city being short served on housing... Again.

Where is GGW when you need them? I suppose looking for Ward 3 development opportunities.

[Anonymous]

Anonymous wrote:Entire Strand Theater project looks like a scam. Everybody getting rich and the city being short served on housing... Again.

Where is GGW when you need them? I suppose looking for Ward 3 development opportunities.

GGW could give a * about needed development. They just want to make $$ in Ward 3.

[Anonymous]

It's not money, they are tax credits. New Markets Tax Credits are very complex. It looks like the Strand couldn't figure it out. Whose fault is that?

[Anonymous]

Anonymous wrote:It's not money, they are tax credits. New Markets Tax Credits are very complex. It looks like the Strand couldn't figure it out. Whose fault is that?

Yes, far too complex for our little city to figure out. Apparently LA is all over it because they are a big "real" city.

It is the entire local city government's fault, but not really, because if you look at the history of the Strand Theater, everybody is making money off of this interminable project. Why wind it up and close out the money train?

[Anonymous]

When Bowser appoints people like John Falcicchio as DC's "top economic development official" that's what you get. All he has ever done is fetch pizza and fundraise for campaigns. He has no real world experience.