Friday, August 5, 2011

Zimmerman to Use Commercial Real Estate Tax Surcharge to Pay for Pike Streetcar

Hello Yupette,

I belong to the Arlington Chamber of Commerce; and I often attend Chamber events and try to find out what's occurring in the area of economic development.

It appears that Chris Zimmerman will use funds from the 12.5% commercial real estate surcharge (which generates about $40 million in tax revenue for the County every year) to fund the Pike streetcar system. Tax revenue from the commercial real estate tax surcharge is only supposed to be used for new transportation infrastructure.

Zimmerman will defer any new transportation construction (like a new entrance to the Ballston Metro Station) until after the Pike streetcar system is constructed. This will cost $160 million for the 10-14 streetcars and another $50 million or so for Columbia Pike road reconstruction.

Also appears that Zimmerman and the County Board can issue bonds to pay for the Pike streetcar system without having a bond referendum.

This has become common knowledge around the Chamber. So thought I'd pass it along.

Thanks for your blog.

Mark

28 Comments:

At 05 August, 2011 , Anonymous TY said...

Yes, and what about the Orange Line which will be overwhelmed by new passengers from Tysons in a couple years?

 
At 05 August, 2011 , Anonymous Anonymous said...

Too bad...try telecommuting

 
At 05 August, 2011 , Anonymous Anonymous said...

Commercial surcharge? So that means the residential luxury apartments and townhoumes in developments along Columbia Pike pay nothing.

 
At 05 August, 2011 , Anonymous Anonymous said...

Wow, years of transportation taxes pledged to streetcar debt before the taxes are even collected. How is Arlington County going to pay for future transportation infrastructure?

 
At 05 August, 2011 , Anonymous Anonymous said...

What has Chris Zimmerman said about the ratings for these bonds, are they going to be AAA?

 
At 05 August, 2011 , Anonymous Anonymous said...

County could fund the Pike streetcar paygo over 5 years using all the commercial real estate tax surcharge revenue.

 
At 05 August, 2011 , Anonymous Peter said...

Something has to be done about a second tunnel under the Potomac for the Blue and Orange lines.

 
At 05 August, 2011 , Anonymous Anonymous said...

There is enough annual tax revenue from the commercial surcharge to ensure the bonds will be AAA-rated.

 
At 05 August, 2011 , Anonymous Anonymous said...

Isn't the Editor of the Sun Gazette a member of the Executive Committee of the Chamber's Board of Directors? Why am I reading about this on the Arlington Yupette blog??

 
At 05 August, 2011 , Anonymous Donna said...

McCaffrey is, first and foremost, a shill for developers, REITs, the County Board, and the Arlington Chamber of Commerce.

 
At 05 August, 2011 , Anonymous Anonymous said...

Chris Zimmerman is crazy enough that he WOULD defer all new transportation projects for 5 years and directly pay for the Pike trolley via surtax revenues.

Zimmerman and the County Board are the Liberal side of the Neo-Con / Liberal coin. Heads we lose, tails we lose.

 
At 05 August, 2011 , Anonymous Anonymous said...

Isn't it time to build another heavy rail crossing over the Potomac? Long Bridge is something like 100 years old.

 
At 05 August, 2011 , Anonymous Anonymous said...

All I see here is the County Board going along with Zimmerman's megalomania.

 
At 05 August, 2011 , Anonymous Pam 22201 said...

Well, I have had enough. I'm voting for Audrey Clement for County Board in November.

 
At 05 August, 2011 , Anonymous Anonymous said...

Streetcar+high density=over crowded schools & goodbye intact neighborhoods

 
At 05 August, 2011 , Anonymous Earth to Looney Tunes said...

Yo, Nutcase Zimmerman, Nutcase McCaffrey, Nutcase Local Media, Nutcase County Board: When does my crumbling street get repaved?

 
At 05 August, 2011 , Anonymous Anonymous said...

Please Be Careful...

If you complain about the Zimmercrats who are running and ruining Arlington, Scotty McCaffrey and "Godfather John" Antonelli will write you into their next "Jane Barcroft" novel as a terrorist.

 
At 05 August, 2011 , Anonymous Barcrofter said...

Antonelli? As in Antonelli New England Crime Family?

 
At 05 August, 2011 , Anonymous Anonymous said...

Zimmerman? A total wacko. Wants to spend $200-$250 million on s Pike streetcar system of about 12 streetcars that will move down the Pike at 11 mph.

 
At 06 August, 2011 , Anonymous abc said...

Common knowledge around the Chamber? It figures. Citizens who pay, while the Elitists play, are the last to know.

 
At 06 August, 2011 , Anonymous Anonymous said...

Downgrade Arlington's debt to Zzz. The only way to prevent reckless spending.

 
At 06 August, 2011 , Anonymous Anonymous said...

Leads me to wonder how they will morph an Ivy League graduate with a Ph.D. who works in a mundane field into a high profile threat.

 
At 06 August, 2011 , Anonymous Anonymous said...

Remind me how we've reached the point where Portland Oregon, a city with a terrible climate, high crime, and high unemployment, has become a model for Arlington's development and redevelopment.

 
At 06 August, 2011 , Anonymous Anonymous said...

You forgot to mention PikeWire, ArlNow and the other for-profit blogs that are shills for the out of state planners, developers, REITs, restaurant owners, etc.

 
At 06 August, 2011 , Anonymous Anonymous said...

You forgot to mention Washington's #1 Oxymoron - Smart Growth.

 
At 06 August, 2011 , Anonymous Anonymous said...

Portland has a streetcar system.

 
At 07 August, 2011 , Anonymous Anonymous said...

Our future....dismal

 
At 07 August, 2011 , Anonymous Anonymous said...

What do they care? They're gonna be outta here in 10 years leaving us with their mess.

 

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