Think of all the great business starts we've had in the last three years that have become a mainstay of many of our lives. Roscoe's Pizzeria (2009), Cedar Crossing Tavern (2009), My Little Bistro (2009), Mayorga Coffee (2010) , Capital City Cheesecake (2010), Ace Hardware (2010), the Green Commuter (2010), Trohv (2011) and Soupergirl (2011). And you may have heard that Bread and Chocolate(2012) will be an exciting success this year. The OTBA played a small or big role in the recruitment of these businesses and also plays a role in providing small loans and other assistance that keeps our businesses growing and improving. Increasingly they also play a role not just in Old Town and the Junction but along the New Hampshire corridor as well.
These are great new services in Takoma Park and I see the value of the City's partnership with OTBA. I'd actually rather see the City establish a more long-term relationship with the Association, for example through a formal partnership or a multi-year contract. Our businesses provide approximately $200-$300 thousand in additional taxes to the City from an inventory tax (on top of property taxes). As least as long as we are looking to keep expanding our business services, I think that partnerships like this with the Old Town Business Association are a sensible way to provide a return on that investment that benefits both businesses and residents.