The Fairfax County Board of Transportation is looking at a variety of funding sources to pay for more than $2 billion in over the next 40 years.
FCDOT officials outlined some of their ideas at a community meeting in Reston on Monday. They stressed all proposals are in the idea stage and still being discussed with the . They are also seeking public feedback on ideas, but hope to have a solid plan to go before the Fairfax County Board of Supervisors by the end of 2016.
Here is what you need to know:
The $2.27 billion cost would be split between public and private funds over three categories.
- Reston Roadways: $1.2 billion – 100 percent paid for by public share
- Reston Intersections: $45 million – 100 percent paid for by private share
- near Metro Stations: $1.021 billion – 100 percent paid for by private share.
That works out to 53 percent paid for by public funds; 47 percent paid for by private funds. However, even using those estimates and in-kind contributions, FCDOT estimates a $355 million shortfall.
That’s why they are considering a tax district for commercial properties or a special service district for all properties located in the ). TSAs are the new construction within about a quarter-mile of Reston’s eventual three Metro stations.
Here’s some of the models they are considering for that:
And here are some of the models for a Road Fund comprised of developer contributions:
In several of the Road Fund scenarios, there would still be a shortfall.
Read more about the process and provide feedback on .
