- There is no "sunset" clause provision terminating the tax after 40 years as stated in Supervisor Hudgins' February newsletter.
- The item "assumes" the initial $.021/$100 valuation will remain unchanged throughout the 40-year period.
4:30 p.m. Public hearing concerning consideration of a request to endorse a funding plan for transportation improvements related to the Reston Phase I Comprehensive Plan Amendment (Reston Transportation Funding Plan). The proposed Reston Transportation Funding Plan addresses the $2.27 billion (in 2016 dollars) need for transportation infrastructure improvements to support the land use recommendations in the Reston Phase I Comprehensive Plan Amendment. The proposed plan allocates roughly $1.2 billion of the improvements over 40 years from public funds–Federal, State, local, and regional funds that are anticipated for countywide transportation projects. It also recommends that approximately $1.07 billion of the cost for these improvements be raised from private fund– sources of revenue that are generated within the Reston Transit Station Areas (TSAs): Wiehle-Reston East, Reston Town Center, and Herndon Transit Station Area and used exclusively for transportation improvements in the Reston TSAs. These private revenues would include developer contributions through actual construction, a transportation road fund that would collect contributions from new developments in the Reston TSAs, and a transportation service tax district that would allow the Board to levy and collect an annual tax from all property owners in the Reston TSAs. The proposed Reston Transportation Funding Plan includes initial rates for the Road Fund and Service District. These proposed initial rates, however, are subject to Board approval. Specifically, the Board will take a separate action to approve the Road Fund Guidelines and, following a separate public hearing, create the Service District. The initial rates included in the proposed Transportation Funding Plan are as follows: Road Fund: Residential per Dwelling Unit Rate: $2,090 Commercial per Square Foot Rate: $9.56. It is anticipated that these rates would be adjusted annually, based on inflation. Service District: Rate per $100 of Assessed Value: $0.021. The proposed funding plan assumes this rate would remain flat during the life of the service district; however, the actual rate would be adopted annually by the Board of Supervisors. Property outside the Reston TSAs would be unaffected by the service district. More information about the development of the Reston Transportation Funding Plan can be found here: http://www.fairfaxcounty.gov/fcdot/restonnetworkanalysis/ Questions regarding this proposed amendment may be directed to the Fairfax County Department of Transportation at 703-877-5600.We have discussed the absurdity of a TSD tax on Reston station area homeowners as well as the underlying fraud behind this financing proposal. If you agree with us that this tax proposal is unwarranted and unfair, please do one or all of the following: