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:
Yes, and what about the Orange Line which will be overwhelmed by new passengers from Tysons in a couple years?
Too bad...try telecommuting
Commercial surcharge? So that means the residential luxury apartments and townhoumes in developments along Columbia Pike pay nothing.
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?
What has Chris Zimmerman said about the ratings for these bonds, are they going to be AAA?
County could fund the Pike streetcar paygo over 5 years using all the commercial real estate tax surcharge revenue.
Something has to be done about a second tunnel under the Potomac for the Blue and Orange lines.
There is enough annual tax revenue from the commercial surcharge to ensure the bonds will be AAA-rated.
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??
McCaffrey is, first and foremost, a shill for developers, REITs, the County Board, and the Arlington Chamber of Commerce.
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.
Isn't it time to build another heavy rail crossing over the Potomac? Long Bridge is something like 100 years old.
All I see here is the County Board going along with Zimmerman's megalomania.
Well, I have had enough. I'm voting for Audrey Clement for County Board in November.
Streetcar+high density=over crowded schools & goodbye intact neighborhoods
Yo, Nutcase Zimmerman, Nutcase McCaffrey, Nutcase Local Media, Nutcase County Board: When does my crumbling street get repaved?
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.
Antonelli? As in Antonelli New England Crime Family?
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.
Common knowledge around the Chamber? It figures. Citizens who pay, while the Elitists play, are the last to know.
Downgrade Arlington's debt to Zzz. The only way to prevent reckless spending.
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.
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.
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.
You forgot to mention Washington's #1 Oxymoron - Smart Growth.
Portland has a streetcar system.
Our future....dismal
What do they care? They're gonna be outta here in 10 years leaving us with their mess.
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