Office of Economic Development Finance

Mission

EDF advises the 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.

Functions

• Provides analysis of fiscal, economic 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, including the Washington Nationals Baseball Stadium, the Convention Center Headquarters Hotel, and a number of large-scale mixed use developments.

• Advises the CFO on tax-increment-financing (TIF) and payment-in-lieu-of-taxes (PILOT) financing deals entered into by the District.

• Analyzes projects requesting abatements or exemptions and advises the CFO accordingly.

• Provides recommendations to the Council to accompany economic development-related legislation.

• Represents the OCFO on the boards of Events DC and Destination DC.