Virginia State Government and Public Real Estate News

Maintains one-cent real estate tax reduction
Funded largely by hiring slowdown and elimination of proposed positions
Reflects concern over higher employee expenses for health care

The following is a statement from Arlington County Board Chair Jay Fisette.

WASHINGTON, D.C. – April 22, 2014 – (RealEstateRama) — These are difficult economic times. In finalizing the FY 2015 Budget, the County Board is working hard to balance a number of goals, including giving some relief to homeowners who have seen their assessments rise, limiting the growth of the County budget, funding school growth and maintaining our core services and existing infrastructure. more »

One-cent cut in real estate tax rate
County budget increase limited to 3%
4.7% increase in Arlington Public Schools funding
Modest 1% COLA for County employees

ARLINGTON, Va. – April 17, 2014 – (RealEstateRama) — The Arlington County Board today directed the County Manager to reduce the real estate tax rate by one cent in the Fiscal Year 2015 Budget. The Board’s action came during the mark-up for the budget, which the Board is set to adopt during its April 22 meeting. more »

WASHINGTON, D.C. – April 14, 2014 – (RealEstateRama) — Monmouth County Assemblywoman Caroline Casagrande will participate in a legislative ”sleep out” tonight on the grounds outside the State House in Trenton to raise awareness and funds in support of New Jersey’s homeless runaway and trafficked youth who are served by Covenant House. more »

Preserves 196 affordable housing units
Supports Columbia Pike Neighborhoods Plan
Is not expected to displace current tenants
AHIF loan to non-profit to buy property

ARLINGTON, Va. – April 14, 2014 – (RealEstateRama) — The Arlington County Board today approved a $16.5 million Affordable Housing Investment Fund (AHIF) loan to help AHC Inc., a nonprofit affordable housing developer, purchase Serrano Apartments at 5535 Columbia Pike. more »

Washington D.C. – April 10, 2014 – (RealEstateRama) — Representative Jim Moran, Northern Virginia Democrat, Ranking Member on the House Appropriations Interior Subcommittee and senior member of the Defense Appropriations Subcommittee, today introduced an amendment to the Legislative Branch Appropriations Bill for Fiscal Year 2015 that would restructure annual cost of living adjustments for Members of Congress as a housing stipend to reflect the challenges of maintaining a second home in the 5th most expensive real estate market in the country. more »

  • 98 units committed to remain affordable 60 years
  • Most units to be family-sized
  • $7.82 million AHIF loan to help finance

ARLINGTON, Va. – January 27, 2014 – (RealEstateRama) — The Arlington County Board today approved a plan to build a five-story mixed-income apartment building in the Buckingham neighborhood that will include 98 committed affordable units, most of them family-size. The Board also approved a $7.82 million Affordable Housing Investment Fund (AHIF) loan to help the non-profit Arlington Partnership for Affordable Housing (APAH) finance the development. more »

Average residential property value up 5.3%, to $552,700
New construction contributes to commercial property value growth
Budget gap narrowed
Assessments online 11 p.m. today

ARLINGTON, VA – January 22, 2014 – (RealEstateRama) — Arlington’s 2014 real estate assessments showed solid growth of 5.8 percent overall, fueled primarily by strength in the residential market, as well as new construction of commercial properties. more »

ARLINGTON, Va. – January 17, 2013 – (RealEstateRama) — As the sun sets on Wednesday, Jan. 29, teams of surveyors will be hitting the streets, parks and wooded areas in Arlington to count the homeless. The effort is part of the annual Point-in-Time Count, now in its 14th year. more »

Arlington, VA – December 20, 2013 – (RealEstateRama) — The City Council of Alexandria and Arlington County Board recently agreed to extend the Covanta Waste-to-Energy lease agreement through 2038 for the disposal of municipal trash. The two jurisdictions jointly lease this solid waste disposal facility, located at 5301 Eisenhower Avenue, to Covanta, Inc. more »

Three to five sites to be identified in upcoming Capital Improvement Program
Arlington Mill public-private partnership possible model
Timeline for comprehensive land use review process to be developed for each identified site

ARLINGTON, Va. – December 18, 2013 – (RealEstateRama) — The Arlington County Board today said it will instruct the County Manager in January to identify three-to-five publicly owned sites “with the greatest potential for redevelopment” in the next 10 years that could incorporate new affordable homes in their redevelopment. more »

 
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