Southwest Waterfront Back on Track (For Now)

Councilmember at large Kwame Brown has dropped his opposition to the resolution that approves the transfer of land from the city to the developers of the Southwest Waterfront now that several of his own revisions have been incorporated into the document. According to Brown's office, the resolution now includes language requiring affordable housing and small business participation (including the right to receive 35% of the contracting dollars, 20% equity participation and 20% development participation). These requirements were not newly negotiated--affordable housing and small business participation were already part of the project, but they were not spelled out in the original parcel transfer legislation.

The new legislation does change a few aspects of the plan. The mayor's office will now be required to submit reports on the project upon request of the council. (Brown previously complained that Fenty's office was not keeping him up to date on the project--now Brown can force the mayor to provide the information.) The resolution also increases council oversight of the project by requiring developer Hoffman-Streuver to present the council with a financing plan by May 1, 2009. In addition, the resolution now states that the land may not be transferred again without permission of the council. So, if the developer has trouble finding financing at any stage, it cannot sell the project to another company. Development would simply stop, and the right to use the land would revert back to the city.