Chamber, City Officials to Speak in Support of Bill to Add State Financing to Potomac Yard Metro
Potomac Yard Metro Tax Increment Bill was introduced by Del. Rob Krupicka (D-45th).
Alexandria city officials and members of the Alexandria Chamber of Commerce are scheduled to testify in a state committee hearing Monday in support of a bill to generate state funding for a Potomac Yard Metro station. The Potomac Yard Metro Tax Increment Bill (HB-1650), introduced by Del. Rob Krupicka (D-45th), provides that if an infill Metro station is constructed in a service district in a locality—in this case, the city of Alexandria—then the locality is entitled to retain the sales and use tax revenue generated in the district to pay bonds issued to construct the station. The bill would place a $1.25 million a year cap on the tax revenue retained. The state would support approximately 10 percent of the cost of the Metro construction …
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Kim Moore
5:08 pm on Monday, January 28, 2013
I hope that this bill or something similar is passed. Potomac Yard would be a great place to live if it had a Metro station. If a Metro does not get built there, I foresee major traffic problems. more ›