Crystal City plan to be reviewed
A working street grid, more public parks, enhanced multi-modal transportation and a mix of housing are all included in plans to create a new Crystal City.
The Arlington County Board is expected to discuss and pass the Crystal City Sector Plan at their board meeting this evening. The redevelopment plans, created in response to the loss of about 17,000 jobs and millions of square feet of empty office space because of BRAC relocations, allow more density, include future designs and guide policy for the next 40 years.
To pay for an estimated $207 million in infrastructure, the county board will also set a public hearing to discuss a new tax policy and fund. The tax increment financing, or TIF, would allocate a portion of the real estate property taxes in Crystal City, Potomac Yard and Pentagon City and dedicate it to a fund used solely for new streets, a Route 1 streetcar line and other infrastructure improvements in the corridor.
County officials estimate that a TIF on one-third of the area's property taxes could generate $82 million to $112 million in six years, depending on construction schedules in the area.
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