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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Businesses, including Leonsis, have been screaming into the void for years now, this was predicted. And the Council has continued to spend, spend, spend, recklessly, along with their reckless coddling of criminals.

https://www.globest.com/2022/12/01/cre-firms-collapsing-office-values-threat-to-dcs-fiscal-health/?slreturn=20240104110851

https://wtop.com/dc/2023/03/monumental-sports-beefs-up-security-as-dc-police-presence-diminishes-downtown/

And now we are here

https://www.msn.com/en-us/money/realestate/fannie-mae-to-leave-downtown-dc-5-years-early/

https://www.bisnow.com/washington-dc/news/office/anchor-tenant-at-city-ridge-development-puts-full-building-up-for-sublease-122628

https://www.washingtonian.com/2023/12/21/the-caps-and-wizards-are-leaving-dc-whos-to-blame/

https://www.msn.com/en-us/news/us/why-is-fbi-headquarters-moving-out-of-dc-biden-administration-chooses-maryland-for-intelligence-agency-s-new-base/

https://www.bizjournals.com/washington/news/2024/01/30/costar-headquarters-dc-rosslyn-jbg-smith.html

etc., etc., etc. the pace will only escalate

What exactly would draw corporations to DC at this point? Millions saw the video re: the Brazilian tourist, punched in the face on WMATA train in Columbia Heights, suffering broken facial bones. Tourist money is not a given either.

DC has never been in a situation re: this kind of random, daytime crime downtown and on WMATA, nor has there ever been this kind of shrinkage of CRE. Most buildings cannot be affordably retrofit for housing due to HVAC and plumbing. There are already a huge number of residential units in the pipeline for NoMA and The Wharf, will there really be demand to absorb them? City Ridge is not even fully rented and the recent armed robbery outside Wegmans won't make it more appealing.

The other undeniable fact - in the 90s, when crime was more predictable and thus more easily avoided, DC was CHEAP. At present, it is one of the most expensive US cities as well as an outlier re: crime trends. Lots more changes to come, I expect. If interest rates were lower, more would likely already have relocated. [/quote]
As the taxes on CRE dry up, DC will have to increase taxes on personal property and sales taxes.  This will further exacerbate the death spiral.
I would also expect DC to try to get “creative” by taxing income earned in the District (i.e. taxing a worker who earns money in the District even though they don’t live there, regardless of whether they are tw or remote).
[/quote]

I thought the Home Rule legislation prohibited any form of commuter tax? DC leaves staggering sums on the table by having no reciprocity re: tickets. So much here makes NO sense.

https://dcist.com/story/21/10/14/dc-didnt-ask-northam-and-hogan-to-help-crack-down-on-unpaid-tickets-despite-initial-claims-it-did/

These really are uncharted times re: CRE, the base of any city's budget. This Council shows no sign of reining in spending unless forced to do so. The landing has not been planned for.

It's inevitable that tourism will take a hit too, with its many ripple effects when DC crime is covered outside US and tourists are attacked in DC

https://www.dailymail.co.uk/news/article-13043071/Pictured-Serial-carjacker-27-murdered-former-Trump-official-Mike-Gill-second-man-night-shot-dead-cops-crime-soars-AG-claims-arrests-prosecutions-wont-solve-crisis.html?ns_mchannel=rss&ns_campaign=1490&ito=social-twitter_mailonline

https://twitter.com/thesierrafox/status/1747439534759981217 over 5 million views re: assault on a tourist

Even Trayon White complained his car had been broken into on 2 occasions when attending an event at Cap One recently, along with hundreds of others. When people are more inclined to vacation, dine, shop and attend events outside DC, even DC residents, the spiral will accelerate. [/quote]

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