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Resource ID: #26211
Subject: Money And Politics
Source: WAMU
Affiliation: 
Date: May 20 - 31, 2013

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Description

Construction cranes can be seen throughout Washington, D.C. Less visible are the symbiotic relationships between land developers and city officials awarding tax breaks and discounted land deals. Those government subsidies are meant to revive neighborhoods, and to create jobs and affordable housing. But in some cases, the benefits never materialized, or the subsidies simply weren't needed. And what began as a targeted economic development tool now looks to some like government hand outs that could have paid for other city services. A WAMU investigation found the D.C. City Council awarded $1.7 billion in real estate subsidies to 133 groups in the past decade — and more than a third of the subsidies went to ten developers that donated the most campaign cash over that time. What's more, less than five percent of the subsidies went to the city's poorest areas with a fourth of the city's population, and developers failed to deliver on pledged public benefits for at least half the projects examined.

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