Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Community Reinvestment Area topic
No spam. Unsubscribe anytime.
Fairfax council adopts extension and CRA tax-exemption agreement for former Swellam site with FCA Realty
Summary
The Village of Fairfax council on March 15 adopted Ordinance 8-20-21 authorizing execution of a fifth amended CRA agreement with FCA Realty LLC, extending the closing deadline into May and declaring an emergency to allow immediate effect.
The Village of Fairfax council on March 15 adopted Ordinance 8-20-21 to authorize the village administrator to execute a fifth amended and restated Community Reinvestment Area (CRA) agreement with FCA Realty LLC, providing a real-property tax exemption for the proposed development at the former Swellam site.
The ordinance, introduced under new business, includes a deadline extension for closing and was declared an emergency to allow immediate adoption. The administrator told council the agreement is “identical to the one we passed last month, except that the meeting date has been extended into May” and said staff expects the property closing “well before then.”
A council member relayed that FCA’s counsel apologized for prior delays and attributed them to pandemic-related issues; the member quoted the counsel as saying they were “99% confident” the closing would occur by May. Council voted to suspend the three-reading rule and then adopted the ordinance by roll call.
Why this matters: the CRA agreement is the framework for a local tax-exemption that can affect property tax revenues and the timing of the proposed development at the former Swellam site. Council members framed the extension as an administrative step to keep the development on track while preserving the village’s oversight.
The ordinance record shows roll-call approval on March 15. The council did not attach additional conditions in the meeting minutes; staff indicated this amendment may be the last extension for the project.
