Everybody Wins with Public-Private Partnerships

Plans to extended the Washington regional subway system, Metro, to Tysons Corner and Dulles International Airport are moving forward according to schedule. Initial engineering and planning is underway, and a new tax on landowners around the proposed transit line will provide up to $400 million toward construction costs. In exchange for an additional 22 cents per $100 of assessed commercial property, land holders will be able to double the number of building permits on their parcels. "Metrorail allows you to change the landscape," said Bill Lecos, president of the Fairfax County Chamber of Commerce. "It allows you to concentrate all kinds of development in a planned, rational way." This tax system is unique in that landowners willingly signed on to the petition to tax themselves. They hope to enjoy substantially higher property values when the rail extension opens in roughly ten years. "It is a unique way to finance the local share without putting the burden on the local taxpayers," Fairfax Board of Supervisors Chairman Gerald E. Connolly (D) said. He added that building densely around the Metro stops makes sense because it will help "build ridership" for the new line.

Thanks to Peter Buryk