17 March 2008
Oh, those wicked subsidies
The District [of Columbia] has negotiated a $40 million deal with National Public Radio to keep the company's headquarters in the city, granting tax abatements over the next two decades and edging out a bid by downtown Silver Spring.
Imagine that: cities competing against one another. Whoever heard of such a thing?
Forty years after taking root in Washington, NPR will build a 10-story headquarters at 1111 N. Capitol St. NE., Mayor Adrian M. Fenty said [Wednesday]. The site, a warehouse of the former Chesapeake and Potomac Telephone Co., will feature a 60,000-square-foot newsroom in the up-and-coming NoMA community, the neighborhood north of Massachusetts Avenue near Union Station....
Neil O. Albert, deputy mayor for planning and economic development, said that NPR will not pay property taxes on the building for 20 years, saving $40 million. The city has agreed not to raise property taxes by more than 3 percent on the station's Massachusetts Avenue building for two decades, or until NPR sells it.
Now that's what I call a sweet deal. And you know, there's something sort of comforting in the notion that soft-spoken NPR has some hard-nosed negotiators; it's almost as if they operate in the Real World or something.
(Via Fraters Libertas.)Posted at 2:26 PM to Political Science Fiction