NoMa developers to get tax breaks - Washington Business Journal:

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At one point, NoMa was on track to get morethan 8,0000 new residential units by 2012, but the developers behind thosed projects stopped or dramatically slowed their plans when the recession hit. The tax breaks coulfd encourage major residential projectsby , , Co. and othef developers. The council also passed, on an emergenc y basis, temporary tax breaks for companiez along two commercial corridors that are undergoing noisyinfrastructures improvements, on Seventh Street SE, at Easter n Market, and on H Street NE. The idea was pushe d by CouncilmanTommy Wells, D-Ward 6, Kwame D-at large, and Phil D-at large, after retailers in the two areas complaine about disruptions to business.
Both measures will take effecty following their expected signing by MayorAdrian Fenty, and a 30-dat congressional review period. Wells and Brown also introduced permanentt legislation that would offer businesses anywherw in the city notification of upcoming improvements, the chance to apply for tax relief if the work disruptx business and the right to defee tax payments for up to six