D.C. Council approves TIF financing for MidCity's Rhode Island Avenue project

The D.C Council voted in unanimous support of a TIF bond to fund up to $47 million in public infrastructure for a 1.9 million-square-foot mixed-use Rhode Island Avenue project in Ward 5.

The vote hands a victory to developer Bethesda-based MidCity Financial Corp., which has been working for years to drive the mixed-use project forward.

Jamie Weinbaum, executive vice president of MidCity, told me Tuesday the vote was an “important milestone” and that the approval will line up funding for the water…