Network News

X My Profile
View More Activity
About this Blog   |   On Twitter   |   Follow us on Facebook   |   RSS Feeds RSS Feed

Alexandria real estate revenue higher than expected

Alexandria appears to be slowly coming back from the recession. Early reports show that the city's real property tax revenues have increased by 1.68 percent this year, creating nearly $9.5 million more in the fiscal 2011 budget than originally anticipated.

City officials say this bodes well for fiscal 2012. In early estimates presented to the City Council on Monday night, staff members said they could be looking at an increase of 3.6 percent in real estate revenue, equating to more than $17.5 million over the fiscal 2011 budget revenue estimates.

Bruce Johnson, Alexandria's chief financial officer, said very rough estimates show about a $7.7 million budget gap in fiscal 2012. He said that number should be smaller after the staff has drilled down the figures for the Nov. 23 budget guidance discussion with members of council.

By Christy Goodman  | October 19, 2010; 1:50 PM ET
Categories:  Alexandria, Christy Goodman  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Senate Republicans agree to withhold public comment on ABC privatization plan
Next: Radtke said she will consider running for office


The City of Alexandria could reverse the deficit in 30 days by selling off the dozens of high end luxury townhomes it currently owns and gives rent free to public housing. In one neighborhood alone Quaker Hill, the city owns about 50 beautiful townhouses (community pool, club house, free yard maintenance, gorgeous landscaping) that are worth 450,000-550,000 each. Do the math, that’s 30 million dollars they own in one luxury neighborhood 10 minutes from the Pentagon. That buys a lot of rent vouchers. They should be sold via Alexandria Real estate agents who are chosen by a drawing. They should be sold one by one agent per townhouse. The new buyers will make improvements, and it will be win win for the local economy. There is one townhouse in Quaker Hill on sale now by a private owner for the 600’s. While TC Williams and the local public schools implode from neglect, Alexandria is hoarding this INSANE cache of sought after properties at the luxury level for public housing in zip code 22314. Our schools need the money now, not later.

Posted by: whoseyrmama | October 20, 2010 1:51 PM | Report abuse

Post a Comment

We encourage users to analyze, comment on and even challenge's articles, blogs, reviews and multimedia features.

User reviews and comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions.

characters remaining

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company