Saw this in the Washington Business Journal the other day, apparently the developers of the Highland Park project at 14th and Irving are asking for $8.5 million tax breaks to offset the lower demand for their places - they've converted Highland Park and Park Place from condos to apartments. Council members Jim Graham and Muriel Bowser proposed a bill that says "the city would provide 100 percent real property tax exemption for 10 years and a reduced relief for the following 10 years." Other developsers asked for more money.
Seems kind of odd - development is good and all, but any business that lose money because of a bad economy just ask for tax breaks? I guess it depends on how much benefit you see the projects giving.