Management & Finance
2010 General Obligation Bond Referenda
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Voters to Consider Four Local Bond Referenda
On November 2, Arlington residents will vote on four local bond referenda totaling $161.0 million. The four questions cover these areas:
1. Metro and Transportation - $34.10 million
2. Local Parks and Recreation - $5.98 million
3. Community Infrastructure - $18.07 million
4. Arlington Public Schools - $102.89 million
The projects included in these bond questions are components of the County’s six-year Capital Improvement Program (CIP) and Arlington Public Schools’ CIP, adopted in July 2010. If approved by the voters, proceeds from the bonds will be used to pay for the projects discussed below.
This year’s CIP was developed amid a continuously difficult economic environment. The County made prudent choices for necessary investment in infrastructure and facilities, while ensuring the County’s ongoing financial health. The plan was guided by the Board’s adopted financial and debt management policies that restrict debt service growth to the projected rate of revenue growth. The Board also affirmed that voter approval of bonds should only be requested if the County has the debt capacity to support the bonds and can initiate the projects within two years.
Arlington is one of only 35 counties in the nation to receive AAA ratings from the three major rating agencies. These strong bond ratings allow the County to borrow at very low interest rates, resulting in lower costs to Arlington taxpayers.
1. Metro and Transportation: $34,100,000
Arlington is one of seven jurisdictions funding the Washington Metropolitan Area Transit Authority (WMATA) system {Page D-2}. The County’s annual contribution supports WMATA’s Capital Improvement Program (CIP), a successor agreement to the original “Metro Matters” program which expired in FY 2010. The capital projects and activities included in the WMATA CIP fund the ongoing safety and maintenance of the WMATA transit system, facility and system upgrades to support future eight car train operations, and the purchase of buses, support facilities, and new 7000 series railcars.
The Transportation program funds WalkArlington {Page D-14}, BikeArlington {Page D-15}, Neighborhood Traffic Calming {Page D-31} and projects leveraged with state and federal transportation match {Page D-32}. In addition, this category also funds the paving program {Page C-9}. The repaving processes extend the useful life of streets for 10 years and beyond and, therefore, meet bond funding criteria.
2. Local Parks and Recreation: $5,975,000
This program funds Parks Maintenance Capital {Page C-11} and provides for recurring, systematic re-investment in existing facilities to insure efficient, safe, high quality park and recreation facilities. The projects identified include the Rocky Run Park {Page C-29} as well as other projects where the playgrounds, fields, courts and other amenities have reached the end of their useful life and need replacing. In addition to maintenance capital, this category funds projects approved in the Park Master Plan such as the Herndon and 13th Street Park {Page C-27}. The project includes a plaza terrace, an open lawn area, native demonstration gardens, pedestrian circulation and site furnishings.
The parks land acquisition and open space program is also included in this category. The funding allows the County to support or expand recreational opportunities, protect or conserve existing open space, preserve unique land features, and/or provide additional green space in urban areas.
3. Community Infrastructure: $18,065,000
Neighborhood Conservation: $9.0 million {Page C-38}
This program funds neighborhood infrastructure improvements that have been requested by neighborhoods and approved by the Board including: street improvements (such as sidewalk, curb and gutter, park improvements, street lighting and beautification. Proposed by civic associations, Neighborhood Conservation projects are evaluated twice yearly by the Neighborhood Conservation Advisory Committee, which then makes recommendations to the County Board for approval.
Public / Government Facilities and Non-parks Land Acquisition: $9.065 million {Page C-51}
This program funds the maintenance capital needs of public and government infrastructure such as a roof that has outlived its useful life as well as address unforeseen structural damage that occurs before routine replacement is programmed. It could also include replacement of existing facilities such as the Lubber Run Amphitheatre, necessary repairs to Ballston Garage and repairs to or replacement of the Emergency Winter Shelter, where operational and physical limitations of the existing structure suggest a need to consider other options. This program would provide the County with the financial flexibility to make the necessary investments at the right time without significant detrimental effects to other approved programs and projects.
For land acquisition program needs, goals would include support of sector plans, right-of-way for realignment of intersections, and other purchases of facilities or land for County functions. A potential project that would fit the criteria for this stream of funding is the acquisition of a property for the Emergency Winter Shelter.
4. Public Schools: $102,888,000
The Schools’ capital proposal was developed after a review of the physical conditions at school facilities, an analysis of existing and future facility needs and project affordability. The 2010 bond will fund the design and construction of Wakefield High School, as well as HVAC, roofing, and fiber optic cabling projects.
For questions or comments on the 2010 Bond Referenda, please contact Jason Friess in the Department of Management and Finance.
Proposed Amendments to the Constitution of Virginia
In addition to the four local bond referenda on this year's ballot, the state of Virginia has also proposed the following 3 amendments to the Constitution of Virginia:
Question 1: Exempt Property
Shall Section 6 of Article X of the Constitution of Virginia be amended to authorize legislation that will permit localities to establish their own income or financial worth limitations for purposes of granting property tax relief for homeowners not less than 65 years of age or permanently and totally disabled?
Question 2: Property Tax Exemption for Certain Veterans
Shall the Constitution be amended to require the General Assembly to provide a real property tax exemption for the principal residence of a veteran, or his or her surviving spouse, if the veteran has a 100 percent service-connected, permanent, and total disability?
Question 3: Revenue Stabilization Fund
Shall Section 8 of Article X of the Constitution of Virginia be amended to increase the permissible size of the Revenue Stabilization Fund (also known as the "rainy day fund") from 10 percent to 15 percent of the Commonwealth's average annual tax revenues derived from income and retail sales taxes for the preceding three fiscal years?
ON THIS PAGE
FY2011-FY2016 Capital Improvement Program (CIP)
School Bond FAQ's: English Spanish
Also on the Ballot:
