From the Washington Business Journal:
After completing a long-delayed hearing Thursday on a land deal for redevelopment of D.C.’s Southwest waterfront, Councilman Kwame Brown, D-at large and chair of the Economic Development Committee, cancelled a mark-up on the project Friday and is preparing new legislation that would make considerable changes to the deal.
The $1.5 billion project requires the District to transfer 16 acres of land to the developers, led by PN Hoffman and Struever Bros. Eccles & Rouse.
Although he and the rest of the council approved $198 million in public financing for the project months ago, Brown is expected to propose new requirements for rental units, a second appraisal of the land value, and a deadline for the developers to get a financing commitment and other measures. He was vetting the idea with fellow councilmembers Friday afternoon.