D.C. Budget Projections Get Big Boost

March 2, 2011  |  

(Washington Examiner) — The District’s budget gap for the next fiscal year, once predicted to be more than a half-billion dollars, has shrunk to $322 million thanks largely to expected growth in the city’s commercial real estate market, city officials said.  It’s the first time since December 2007 that Chief Financial Officer Natwar Gandhi has said the city’s future finances appear to be better than previously predicted. The smaller budget shortfall had Mayor Vincent Gray on Tuesday downgrading a budget crisis that he once described as the “Grim Reaper knocking at the door” to a “problem”.

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