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Office of Economic Development Finance

Function

The Office of Economic Development Finance (EDF) advises the Chief Financial Officer (CFO) on all tax increment financing (TIF) and payment-in-lieu-of-taxes (PILOT) financing deals entered into by the District, as well as a variety of other real-estate and debt transactions.  Additionally, EDF’s analyses of proposed economic development initiatives assist the Mayor, Deputy Mayor for Planning and Economic Development, and the Council to ensure the least financial risk to the District.  EDF is involved with structuring District-supported financing of many of the major economic development projects in the city, including the Convention Center's Headquarters Hotel, Great Streets TIF areas, redevelopment along the Anacostia and Southwest waterfronts, and the Washington Nationals Baseball Stadium, among others.

Key Responsibilities

  • Provides analysis of fiscal, financial, and, administrative impacts of proposed projects to the CFO, Mayor, Deputy Mayor for Planning and Economic Development, and the Council so they can appropriately assess proposed economic development initiatives with a view toward ensuring economic development in the District.
  • Examines the financing of many of the major economic development projects in the District.  This has included the Washington Nationals Baseball Stadium, the Convention Center Headquarters Hotel, and a number of large-scale mixed use developments.
  • Advises the CFO on TIF and PILOT financing deals entered into by the District and analyzes projects requesting tax abatements or exemptions
    Further information on each program: Summaries of TIF, Retail TIF, PILOT, and TAFA
    TAFA submission requirements: Submission Requirements for Parties Seeking a New Real Property Tax Abatement or Exemption.
    Completed TAFAs: Released TAFAs To Date.
  • Provides recommendations to the Council to accompany economic development-related legislation.
  • Represents the OCFO on the boards of Events DC and Destination DC.

More Information

Summaries of TIF, Retail TIF, PILOT, and TAFA

Projects Financed in the District

 

Contact Us

1101 4th St SW Suite 772,
Washington, DC 20024
Telephone: (202) 727-9635 

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