Posts Tagged ‘tax increment financing’

Price of a 24-Hour Downtown Restaurant: $4.5 Million

In 2004, the city set up a $30 million pot of money known as tax increment financing—debt to be paid off by future increased tax revenues in a given geographical area—to attract large, signature retailers to the downtown core. Dollops from that pot are responsible for some of the biggest brand names D.C.'s got: $1.75 [...]