D.C. Council Rejects Radio One Plan
posted 8:48 am Fri November 16, 2007 - Washington
D.C. Council members have rejected a plan to give a developer city-owned land worth $6 million on which to build the project. The $115 million development, called Broadcast Center One, would be built atop the Shaw-Howard University Metro station. The project would include offices for Radio One as well as shops, 185 parking spaces and 180 apartments.
An official in the Office of the Chief Financial Officer said the city could consider increasing public financing to offset the developer's cost of buying the land.Radio One, based in Lanham, is the seventh-largest broadcasting company in the U.S. and the largest to target black listeners.
Information from: The Washington Post, http://www.washingtonpost.com
Latest Comment on D.C. Council Rejects Radio One Plan
guesswhat
9:47 am on 11/18/07
I don't see it as a handout from the government's point of view, but an investment since radio one will eventually pay higher franchanise taxes to the govenrment to operate. The government tipically do not give money away without considering the ROI. Get it!
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