Reston Spring

Reston Spring
Reston Spring

Tuesday, May 11, 2010

County explores financing options for roads in Tysons Corner area, Fairfax Times, May 11, 2010

Supervisors will decide on funding mechanisms this summer

by Kali Schumitz | Staff Writer


Fairfax County officials have started considering how they will pay for nearly $1.5 billion in roads and transit costs that will be needed to support future growth in Tysons Corner.

Last week, county staff outlined a mixture of funding mechanisms to raise the money from both public and private sector sources. The initial staff proposal includes a 55 percent public funding share through bonds, taxes and state or federal transportation dollars, and a 45 percent private share from developer contributions and localized tax districts.

The Fairfax County Board of Supervisors will decide on the funding mechanisms when it considers the new land-use plan for Tysons Corner this summer.

The proposed 55-45 split is unlikely to please either community activists or future Tysons developers. . . .


Click here for the rest of this article.

No comments:

Post a Comment

Your comments are welcome and encouraged as long as they are relevant, constructive, and decent.