What if the District needs the land in the future for some more important use?
There are different schools of thought on whether or not it makes sense for a city like Washington to land bank (hold undeveloped property) for future, unforeseen needs. One school says that it is very expensive to buy land and if the city has to buy land in the future, it may have to pay to much for it. Another school says that by developing unneeded land (or in this case development rights) the city receives both the sales price and the tax and social benefits from the new use, as well as potential increased taxes from surrounding properties. These benefits usually far exceed the actual replacement value of the land should the city ever need to acquire it in the future. Also, the city, unlike a private land owner, has the legal ability to acquire whatever land it needs for a public purpose, whenever it needs it. • Is the Library being closed? No. A new West End Library is being designed and built to replace the almost 50 year old current structure. The new library will be designed wi
Related Questions
- What would happen if the District allowed utilities to use groundwater to meet all of their future water supply needs?
- How can PDR preserve land in perpetuity when nobody knows what the future will bring in the way of land needs?
- What if the District needs the land in the future for some more important use?
