Posted by Ashley Fox on November 03, 2015 at 6:25 PM
Today, At-Large Councilmember Elissa Silverman introduced four amendments to the Local Jobs and Tax Incentive Act of 2015, the legislation to give a $60 million property tax abatement to the property expected to be leased by the Advisory Board Company (ABC). The amendments sought to ensure that economic development incentives for private companies continue to benefit District taxpayers and support job growth and security for District residents.
“While I’m not convinced we need this abatement to keep the Advisory Board in the District, I believe there are ways we can make this a better deal for the District and our residents,” said Silverman about the proposed legislation. “When we’re making an investment in a company like this, we need to think critically about our return on investment for the District and our residents.”Read more