STATEMENT BY THE WHITE FLINT PARTNERSHIP

REGARDING INFRASTRUCTURE IMPROVEMENTS FUNDING

Recently, the Montgomery County Finance Office has proposed additional taxes to White Flint homeowners to help pay for infrastructure improvements in the community. We believe the original financing plan is more than adequate and would strongly oppose any proposal to tax existing homeowners.

The Montgomery County Planning Board originally proposed three funding mechanisms for the costs associated with fulfilling the vision of a new White Flint community: 1) direct contributions from White Flint commercial property owners who choose to redevelop their properties, 2) a special incremental taxing district on White Flint commercial property owners, and 3) county and state contributions. White Flint commercial property owners would provide approximately two-thirds of the funding through direct contributions and taxes, while regular county and state tax revenues would only be responsible for about a third of the transportation infrastructure improvements. 

Further, it has been estimated by the County that a new White Flint would generate $6.9 billion in net new tax revenues over the next 40 years for Montgomery County alone. Therefore, the public contribution represents only a small percentage of the net new tax revenues generated in White Flint.  This small investment will lay a solid economic foundation for the County’s future.

We look forward to working with the County and our friends and neighbors to develop a financing plan that is sufficient, effective and equitable to make the new White Flint community a reality.