District Moves to Merge Development Agencies

WASHINGTON, DC-Mayor Adrian Fenty has signed a bill that would merge two of DC’s quasi-public development agencies–the Anacostia Waterfront Corp. and the National Capital Revitalization Corp.–with the office of the Deputy Mayor for Planning and Economic Development.

The bill dissolves the boards of the two corporations immediately and sets a date for the powers of the corporation to sunset on Sept. 30, the last day of the current fiscal year. Personnel, assets, and contracts will be transferred to the District before the end of the fiscal year.

“Today we are taking on several billion dollars worth of neighborhood-transforming economic development projects,” Fenty says in a statement. “At the end of the day, the residents of the District of Columbia will hold me and my administration accountable for the success of these projects and this legislation gives us the clear authority to get the job done.”