Sydell Group Risks Losing Tax Break For Adams Morgan Hotel Construction
The Sydell Group received a $46M tax break from the DC government to build a 100-plus room hotel on the site of the First Church of Christ, Scientist in Adams Morgan (above).
The developer now risks losing that tax break because it has failed to live up to the requirement of hiring 342 DC residents for the project, the Washington City Paper reports.
Construction on the project at 1780 Columbia Road NW began in early 2015 and is expected to finish next year. Officials say Sydell has hired just a quarter of the employees mandated by the tax break.
The Office of the Chief Financial Officer says only when the company provides certification that the requirements have been met will it decide whether to award the subsidy. An OFCO spokesperson says she's not aware of the District ever previously rescinding a tax abatement. [WCP]
