cooldcre: SW Waterfront Development Bill Moves Past CBO Stage

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SW Waterfront Development Bill Moves Past CBO Stage

SW Waterfront Development

SW Waterfront Development Bill Moves Past CBO Stage

Southwest Waterfront Development News

Additional development on the land surrounding the Maine Avenue Fish Market will not directly affect the federal government, according to a Congressional Budget Office cost estimate on the Southwest waterfront issued earlier this week.  

The estimate relates to the bill H.R. 2297, introduced by sponsor Eleanor Holmes Norton in June of 2011:

H.R. 2297 would amend the District of Columbia Official Code to transfer all federal right, title, and interest in the Southwest waterfront area to the District of Columbia. The legislation would authorize the District of Columbia to lease or sell the site, expand the District’s authority to manage the Maine Avenue Fish Market, and allow the Maine Lobsterman Memorial to be moved to another location. 
Information from the National Park Service and the National Capital PlanningCommission indicates that the property that would be transferred is not being used by the federal government, and no income is generated from it under current law. Thus, CBO estimates that implementing H.R. 2297 would have no significant effect on the federal budget. Enacting the legislation would not affect revenues or direct spending; therefore, pay-as-you-go procedures do not apply. 

The bill could help green light approximately 2.5 million SF of new mixed use waterfront construction. The bill passed the House of Representatives by a voice vote and now moves to the Senate Committee on Homeland Security and Governmental Affairs.

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Comment balloon 0 commentsThe Isaacs Team llc • December 22 2011 08:51PM

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