Posts Tagged ‘natwar gandhi’

CFO Spokesman: No Moratorium on Tax Lien Sales Without an Act of Council

Mayor Vince Gray called for a moratorium on tax lien sales this morning, following a Washington Post investigation that found that a handful of investors had gamed D.C.'s system to deprive people of their homes for outstanding tax debts of less than $1,000. But absent a new law by the D.C. Council, his plea won't carry much weight: [...]

CFO Study Finds FBI Departure Would Raise Revenue, Lower Jobs

If the Federal Bureau of Investigation leaves the District, the city would see an increase in tax revenue but a decrease in D.C.-based jobs, according to a new study commissioned by Chief Financial Officer Natwar Gandhi.
The study, conducted by the National Academy of Public Administration and Bolan Smart Associates after the mayor and D.C. Council [...]

With Deal Dead, What Happens to Howard Town Center Tax Break?

I reported yesterday that Howard University has terminated its agreement with the developer of the planned Howard Town Center, a big mixed-use project on Georgia Avenue with 445 apartments and a grocery store. It's still unclear exactly what led to the termination—a Howard spokeswoman said the developer, the Cohen Companies, "failed to meet certain benchmarks" but [...]

CFO Forecasts the End of D.C.’s Population Boom

Yesterday came the news that, well, we're rich. According to a letter from D.C. Chief Financial Officer Natwar Gandhi, the D.C. government is now anticipating $600 million more in revenue in the next five years than previously forecast. That means a big surplus for years to come.
But buried in the appendix to the letter is [...]

Council Committee Approves Tax Break That CFO Called Unnecessary

A D.C. Council committee approved an $11 million tax break today for the Howard Town Center development on Georgia Avenue NW—despite the fact that Chief Financial Officer Natwar Gandhi deemed the break unnecessary.
The Council's finance and revenue committee approved the 10-year, 100 percent property tax abatement, plus three other tax breaks, in less than a [...]

Mayor Gray Second-Guesses CFO, Says There’s Got to be More Money Out There

As I noted on Wednesday, Chief Financial Officer Nat Gandhi found that the District would bring in more money this year than originally anticipated. But Mayor Vince Gray still isn't excited about the prospect of a $115 million shortfall, and thinks Gandhi lowballed the District. Yesterday, he fired off a letter asking the CFO to [...]

Sale Watch: Nat Gandhi Trades Up

For at least the last eight years, the District's Chief Financial Officer Natwar Gandhi has had a characteristically austere living situation: A small unit in a 1960s-era condo building tucked into Soapstone Valley Park, a block from the Van Ness-UDC metro station. The son of a grocer bought it for $215,000 in 2003, and according [...]

The BCDs of Going to Wall Street

Tomorrow, the District's head financial honchos–Mayor Vince Gray, Council chairman Kwame Brown, Chief Financial Officer Nat Gandhi, and Committee on Finance and Revenue chairman Jack Evans–will show up in lower Manhattan to beg for something very important: A continued healthy bond rating, which allows the city to borrow what it needs to run the government [...]

Just How Badly Off is the District, Comparatively Speaking?

Being a capital city, as any long-term resident of the District knows, is both a blessing and a curse. You get the grand buildings and hoopla that accompany the seat of government, and sometimes more cheese than usual from the feds. But you also often have little say in your own governance, and herds of [...]

Stalemate Continues After CFO’s Attempted DCHA Takeover

In late May, District Chief Financial Officer Natwar Gandhi made known his intenton to take over the finances of the District of Columbia Housing Authority by July 1–a punishment of sorts for allowing the Fenty adminsitration to funnel millions of dollars through the authority for dubiously-awarded recreation center contracts. Interim DCHA director Adrianne Todman quickly [...]