[Video clip 7 min 13 sec]

At the Wednesday, March 3, ANC2C public meeting, Ward 2 Councilmember Jack Evans gave an update about the District of Columbia's finances and the effect of the current economy on development in Shaw. He discussed most of the large local developments in the area:

• CityCenter (financing not available)
• Convention Center Hotel (in litigation, when solved, we'll be in the ground the next day)
• CityMarket at O (positive steps being made)
• Kelsey Gardens/Addison Square (stuck, cannot find equity partners)
• Parcel 42 (stuck, proposed project no longer doable financially)
• RadioOne (RadioOne bailed out, United Negro College Fund may do the project)

Mr Evans noted that between March 15 and May 15, the Council is scheduled to have deliberations and markup the budget Mayor Fenty submits to them. Once the budget is determined at the District level, it is then sent to Congress for final approval (hopefully) by October 1 when the District's fiscal year begins.

The District has a $400 million dollar problem going into this fiscal year. Mr Evans also noted that 80% of the District's budget goes to: education, human services and public safety and suggested that creative cuts may need to be made to those areas in this budget cycle in order for the District to remain fiscally sound. He notes that Maryland has a $2 bllion budget shortfall which is less than Virginia's $4 billion budget shortfall.