Reston Spring

Reston Spring
Reston Spring

Saturday, March 21, 2015

RA to Restonian on Tetra property purchase: We'll let you know when it's too late . . .

As many of you may know who have learned to navigate the new RA website, RA will be holding a public hearing this coming Thursday evening, March 26, at 7:25PM at RA headquarters concerning its ongoing plan to spend $2.65 million to acquire the old Reston sales building site just north of Lake Anne owned by Tetra Properties.  The public hearing will be in the middle of a regular monthly RA Board meeting that begins at 6PM, so you will need to arrive early to be sure you don't miss it and to sign up to speak if you wish to.  At the same time, the hearing may begin late because of other Board business including (non-public) executive sessions by the Board about the Tetra property purchase both BEFORE and AFTER the public hearing.  For your information, here is the full agenda for the upcoming RA Board meeting:


In particular, we would like to bring to your attention the final item--Item J--on the agenda.  The item concerns a complaint by Restonian Irwin Flashman who requested the publication of material information concerning the $2.65 million appraisal for the Tetra property that would be the purchase price if the Board's plan to purchase the Tetra property is finalized, subject to a referendum.  Here is the response he received from RA CEO Cate Fulkerson:
 . . . The appraisal will be made available once the Board and owner of the Tetra property have executed a “conditional contract” (pending the outcome of the referendum). . . .
This response comes from a CEO and a Board that has pledged itself to "transparency" and member involvement.  Yet, in a situation that could result in Restonians paying an extra $372 to $653 over a 20-year period to acquire, finance, renovate, maintain, and staff the Tetra property depending largely on mortgage terms, RA chose to reject a legitimate request for information from Mr. Flashman.  As has been noted in RestonNow in both an article("Tetra Building to Cost $2.65 Million, RA Board Says") and in a highly critical op-ed ("A Stunningly Bad Idea"), RA plans to buy the property for more than twice its currently assessed value. 

Mr. Flashman responded to RA'srejection by filing a complaint.  Below you will find the entire set of documents concerning this request/rejection/complaint as presented in the RA Board's package for this coming Thursday evening.  Mr. Flashman's complaint pretty much speaks for itself.   

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