Fairfax County took the first step Tuesday toward applying for a joint $1.9 billion federal loan that will help finance about a third of the total costs for the Silver Line.
The Board of Supervisors agreed to back the loan with money from the Phase 2 tax district and from the countywide commercial and industrial taxes that are dedicated to transportation. The county will get a credit rating for these two sources of collateral, which is a precondition for applying for the loan.
Fairfax and Loudoun counties and the Metropolitan Washington Airports Authority are jointly applying for the loan from the U.S. Department of Transportation under the Transportation Infrastructure Finance and Innovation Act. This loan offers flexible terms and low interest rates.
“The opportunity for a TIFIA loan is a huge benefit for the Silver Line project,” Board of Supervisors Chairman Sharon Bulova said in a released statement. “It will keep costs affordable for motorists using the Dulles Toll Road and help both Fairfax and Loudoun counties with our funding plans.”
Fairfax would receive $475 million from the loan if the project receives the full $1.9 billion.
Secretary of Transportation Ray LaHood has expressed support for the loan in the past, and rail project partners are hoping to move the process forward before LaHood steps down.
In April, the city of Falls Church and Fairfax County jointly filed a voluntary boundary adjustment agreement, as part of the sale of the city’s water utility to Fairfax Water, with the Virginia Commission on Local Government.
CLG members will tour the areas included in the boundary adjustment on July 8 and hold a public hearing that evening. The public hearing will begin at 7 p.m. in Falls Church City Hall, at 300 Park Ave. The CLG will then hold a public meeting at City Hall July 9 at 10 a.m. to discuss the boundary adjustment and is expected to issue its recommendation in September.
After CLG provides its recommendation regarding the boundary adjustment, the city and county will consider adoption of parallel ordinances providing for the boundary adjustment. Assuming these ordinances are adopted, the city and county will file a petition in circuit court requesting the appointment of a three-judge special court to review the boundary adjustment. The special court must give final approval.
The Metropolitan Washington Airports Authority Board of Directors affirmed the hiring of two new executives: Goutam Kundu as the new the vice president for technology and Anthony Vegliante as the new vice president for human resources. These positions have been vacant for months, with President and CEO Jack Potter filling in with the human resources role in the interim.
“Goutam and Anthony are tremendous additions to the Airports Authority,” Chairman Michael Curto said in a released statement. “Their backgrounds, experience and proven leadership in their respective fields will help build and enhance the Airports Authority.”
Kundu offers experience managing other large-scale IT operations. His work experience includes holding executive positions at the U.S. Mint; NIIT Technologies, a global IT service and software company; the Washington Suburban Sanitary Commission and Farm Bureau Insurance.
Vegliante has more than three decades experience in human resources, including managing human resources for more than 600,000 employees and participating in 20 national labor negotiations at the U.S. Postal Service. He is generally regarded as the architect of the Postal Service’s highly successful pay-for-performance program for all employees not covered by collective bargaining.
Vegliante will begin work at the Airports Authority on May 20, and Kundu will begin June 3.