Fairfax County supervisors will consider allowing landowners to band together into small groups to finance redevelopment, potentially letting them use tax dollars to pay for needed improvements.
The creation of community development authorities, or CDAs, is the latest move in the county’s campaign to spark revitalization in some of its declining commercial corridors.
Under a measure to be considered at the Board of Supervisors Sept. 8 meeting, groups of landowners seeking to redevelop their properties could petition the county to set up such an authority, which would allow them to tax themselves to pay for the accompanying roads, utilities and other infrastructure.
Perhaps the most attractive feature would be using tax increment financing, in which the tax dollars generated by the project are used to pay off those improvements.
Fairfax County’s Office of Community Revitalization and Reinvestment has targeted seven communities as prime for economic growth, including Bailey’s Crossroads, Springfield and Merrifield.
