Comments on: Groundbreaking for CVS in Petworth

By: Kent

Kent — Sun, 04 Jul 2010 19:51:01 +0000

Ah ... this CVS isn't in Petworth. Its in Park View.

By: Simon Landau

Simon Landau — Fri, 13 Nov 2009 23:24:57 +0000

Petworth is gonna be huge soon---good to see CVS will be moving in.

By: The Archdiocese Plays Hardball: Loose Lips Daily - City Desk - Washington City Paper

Fri, 13 Nov 2009 15:35:58 +0000

[...] Ground is broken on Petworth CVS, Housing Complex notes. [...]

By: Aoi

Aoi — Thu, 12 Nov 2009 23:07:47 +0000

Is DC actually contributing to development of a CVS?

DCmud isn't clear on that point. The money could be have been used for environmental clean-up or something like which the government would have likely funded in any case. But if CVS was specifically provided tax payers dollars in support, then I might have an issue. This is from CVS's Q3:

Net revenues for the third quarter of 2009, increased $3.8 billion to $24.6 billion, up from $20.9 billion
during the third quarter of 2008.
For the quarter, CVS Caremark opened 65 new retail pharmacy stores, and closed 6 retail pharmacy stores
and 1 specialty pharmacy. In addition, the Company relocated 22 retail pharmacy stores. As of September
30, 2009, the Company operated 7,008 retail pharmacy stores, 49 specialty pharmacy stores, 20
specialty mail order pharmacies and 6 mail order pharmacies in 43 states, the District of Columbia and
Puerto Rico.
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTk2NTd8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
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If public money was involved, I would have rather seen it go to supporting locally owned, small business restaurant start-ups, stores and other establishments.

By: Ruth Samuelson

Ruth Samuelson — Thu, 12 Nov 2009 22:48:34 +0000

You're probably referring to this:"The project was made possible partly through a $2 million Georgia Avenue Great Streets Grant from the District, which spends approximately one-fifth of its $10 million budget for the area. The grant will be financed through TIF bonds, which make the District a development partner of sorts creating an added value for the lot in order to secure additional private financing. The TIF bond will be financed through the sales tax revenue generated by the new CVS and will expire after 25 year or when the taxes revenue fulfill the financial obligations." (From DCmud: http://dcmud.blogspot.com/2009/11/groundbreaking-for-georgia-avenue-cvs.html)

By: DB

DB — Thu, 12 Nov 2009 22:32:12 +0000

My point in mentioning Councilman Graham was the lack of any meaningful response. Just the usual "oh, i see... bests jim" type thing.

By: DB

DB — Thu, 12 Nov 2009 22:31:35 +0000

i wrote to Councilman Graham months ago. (It is my understanding that a large amount of public money is subsidizing this project.)

We have no need for a CVS. I can buy everything a CVS sells within two blocks of this corner. Drinks--safeway, sweet mango, numerous cafe's lining Georgia directly across street. Greeting cards--Safeway. T-shirt/umbrellas (store next to sweet mango, several more themed stores on georgia across the street). Hair care (several stores). pharmacy--Safeway. Crappy disposable camera--safeway.

We could use a nice thoughtful, attractice, non-sidewalk-crowding development there. Show us the architectural plans and i'll believe it.

If there isn't some actual public benefit (a CVS is none), then stop looting tax revenue for developers.