Fairfax County supervisors approve incentives to spur economic revitalization
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| A plan to redevelop these buildings at the Skyline Center will benefit from the new Economic Incentive Program. |
The Fairfax County Board of Supervisors approved a new economic incentive program Sept. 15 to encourage investment in six areas, including Annandale, Bailey’s Crossroads/Seven Corners, Lincolnia, Springfield, Richmond Highway, and McLean.
The financial incentives include a 10 percent reduction in site plan fees and a partial real estate tax abatement on the difference between the pre and post-development value of the property for up to 10 years.
The economic incentive program (EIP) also offers regulatory incentives, such as expedited scheduling and zoning, concurrent processing of comprehensive plan amendment and rezoning proposals, and concurrent processing of site plan and zoning applications.
Related story: Supervisors consider tax incentive to promote redevelopment
The incentives would take effect on July 1, 2022, for Bailey’s Crossroads and Jan. 1, 2025, for Annandale and Lincolnia.
The program is expected to be a catalyst to overcome barriers to the revitalization of these areas.
Related story: Planning Commission recommends approval of Skyline project
One of the first redevelopment projects to take advantage of the EIP is the transformation of three mostly vacant office buildings at the Skyline Center into a live/work development.
Each building would have 240 units that tenants could use for living, working, or both. The BoS approved that proposal on Sept. 15.
3 responses to “Fairfax County supervisors approve incentives to spur economic revitalization”
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Great news! All due credit to the BOS getting this done!
You got to be kidding me! The BoS has been sitting on their duffs while these areas have fallen victim to blight, high crime rates and commercial vacancies, and failing local schools. Why is it that 1.5miles away from Baileys there is an abundance of new development such as Array and new townhouses on Pickett St? What is the common problem here in Mason? The answer is the BoS and Penny Gross. They are totally disconnected and just plain ignorant as to how to solve the problems of aging suburban localities that are transitioning to urban communities. Penny Gross like Trump refuses to step down and let younger, smarter and more progressive leaders solve these problems.
If somebody wants to make money off of being located here then they shoukd pay their fair share of taxes. I am suck and tired of giving wealthy people a free ride so they can make a bigger profit. They get their ripoff tax breaks,a free pass to not adhere to all zoning rules and rush things through and we get stuck with more traffic, paying for it, and cleaning up the mess afte4 they leave.