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Why DC could send $6 million in Strand Theater tax credits to LA instead

Strand Theater redevelopment rendering courtesy of The NHP Foundation
For more than a year, DC Housing Enterprises, a subsidiary of the District’s Housing Authority, had $6 million in federal tax credits set aside to help redevelop the Strand Theater, a historic, now-abandoned movie theater that was once a focal point for Deanwood’s Black community. Officials want to turn the space into a restaurant with an arts and entertainment program.
But in mid-December, DCHE asked the Housing Authority Board of Commissioners for permission to direct those tax credits to a hospital project not in the District, but in Los Angeles. ....

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D.C. Housing Authority Sends New Market Tax Credits to L.A.

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D.C. is allocating $6 million in tax credits to a community hospital. The only problem is, that hospital is located in a different community, more than 2,600 miles away, in south central Los Angeles.
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The D.C. Housing Authority Board of Commissioners voted in an emergency meeting last Friday to send $6 million in new market tax credits across the country. The funds must be allocated by the end of the calendar year, or else the District risks losing out on tax cred ....

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citybizlist : Washington DC : Citybiz Interview with Troy LeMaile-Stovall, CEO of TEDCO

Troy LeMaile-Stovall
As the CEO and Executive Director of
TEDCO Maryland’s economic engine for technology companies Troy leads the organization’s mission to support economic development through the cultivation of an inclusive entrepreneurial innovation ecosystem. He brings to bear more than 25 years of experience in investment management, higher education, telecommunications, information/communication technology, and management consulting in this leadership role.
Prior to joining TEDCO, Troy was the chief operating officer at the University of the District of Columbia (UDC), the nation’s only urban land-grant university. UDC encompasses a six-site community college, a four-year baccalaureate campus, and a law school, and serves 7,000 degree- and certificate-seeking students. He oversaw an array of critical functions at UDC, including capital construction, communications, emergency management, enrollment services, facilities management, government relations, ....

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