Photo by r.m.b. Big retail news from the Washington Business Journal: Metro Center area furniture store West Elm has announced it will close in mid-March. This is especially interesting considering the store was the recipient of a $5 million, 10-year TIF package from the District government in 2007 — an incentive that was supposed to allow the retailer to repay bonds issued by the city with future tax revenue. But West Elm’s sales tax…