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<blockquote data-quote="texan" data-source="post: 960334" data-attributes="member: 38206"><p><span style="font-family: 'arial black'">Almost $800,000 of federal taxpayer funds went to subsidize ―pancakes for yuppies‖ in the nation‘s capital.</span></p><p><span style="font-family: 'arial black'"></span></p><p><span style="font-family: 'arial black'">An International House of Pancakes (IHOP) franchise was built with financial assistance <span style="font-size: 10px">courtesy of Uncle Sam.</span></span></p><p><span style="font-family: 'arial black'"><span style="font-size: 10px"></span><span style="font-size: 10px">It was intended to help an ―underserved community. The federal </span>funding went to the </span></p><p><span style="font-family: 'arial black'">Anacostia Economic Development Corporation. According to the </span></p><p><span style="font-family: 'arial black'"><span style="font-size: 10px">Congressional Research Service (CRS), ―</span><span style="font-size: 10px">$500,000 of the $765,000 grant was used as an equity</span></span></p><p><span style="font-family: 'arial black'"><span style="font-size: 10px"></span><span style="font-size: 10px">injection in DC Pancakes LLC for a 19% ownership interest. </span><span style="font-size: 10px">The remaining funds went to</span></span></p><p><span style="font-family: 'arial black'">training costs for new employees, and other consultants.</span></p><p><span style="font-family: 'arial black'"></span></p><p><span style="font-family: 'arial black'">The new IHOP is not located in an ―underserved community but a popular Washington D.C.</span></p><p><span style="font-family: 'arial black'"><span style="font-size: 10px">neighborhood. </span><span style="font-size: 10px"> The neighborhood is Columbia Heights, which has become a local shopping </span><span style="font-size: 10px">hot spot </span></span></p><p><span style="font-family: 'arial black'"><span style="font-size: 10px">s</span><span style="font-size: 10px">ome and ―one of Washington‘s more desirable neighborhoods. Other businesses </span><span style="font-size: 10px">in the area</span></span></p><p> <span style="font-family: 'arial black'"><span style="font-size: 10px">include Target, Bed Bath and Beyond, Best Buy, and Starbucks.</span></span></p><p> <span style="font-family: 'arial black'"></span></p><p> <span style="font-family: 'arial black'"></span></p><p> <span style="font-family: 'arial black'"></span></p><p><span style="font-family: 'arial black'"></span><span style="font-family: 'Californian FB'"> </span></p><p><span style="font-family: 'Californian FB'"></span></p></blockquote><p></p>
[QUOTE="texan, post: 960334, member: 38206"] [FONT=arial black][FONT=Californian FB][/FONT]Almost $800,000 of federal taxpayer funds went to subsidize ―pancakes for yuppies‖ in the nation‘s capital. An International House of Pancakes (IHOP) franchise was built with financial assistance [SIZE=2]courtesy of Uncle Sam. [/SIZE][SIZE=2]It was intended to help an ―underserved community. The federal [/SIZE]funding went to the Anacostia Economic Development Corporation. According to the [SIZE=2]Congressional Research Service (CRS), ―[/SIZE][SIZE=2]$500,000 of the $765,000 grant was used as an equity [/SIZE][SIZE=2]injection in DC Pancakes LLC for a 19% ownership interest. [/SIZE][SIZE=2]The remaining funds went to[/SIZE] training costs for new employees, and other consultants. The new IHOP is not located in an ―underserved community but a popular Washington D.C. [SIZE=2]neighborhood. [/SIZE][SIZE=2] The neighborhood is Columbia Heights, which has become a local shopping [/SIZE][SIZE=2]hot spot s[/SIZE][SIZE=2]ome and ―one of Washington‘s more desirable neighborhoods. Other businesses [/SIZE][SIZE=2]in the area include Target, Bed Bath and Beyond, Best Buy, and Starbucks.[/SIZE] [SIZE=2][/SIZE] [FONT=Californian FB][/FONT] [SIZE=1][SIZE=1][/SIZE][/SIZE] [/FONT][FONT=Californian FB] [/FONT] [/QUOTE]
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