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Town Hall Meeting on Water Fund Proceeds Set for Saturday at City Hall

A chart detailing F.C. City Manager Wyatt Shields' proposal for using the water sale proceeds. (Chart: City of F.C.)
A chart detailing F.C. City Manager Wyatt Shields’ proposal for using the water sale proceeds. (Chart: City of F.C.)

The City of Falls Church is holding a Town Hall meeting this Saturday seeking input from the community on how best to use proceeds from the sale of its water utility to Fairfax County earlier this year. At the meeting, taking place 10 a.m. – noon in Council Chambers at 300 Park Avenue, City staff will present three investment options for the proceeds, which total $20.5 million.

The first option, proposed by F.C. City Manager Wyatt Shields, would invest $11 million in the City’s pension fund, $8.5 million in an endowment for major capital and $1 million in infrastructure maintenance. A second option invests all $20.5 million in an endowment for major capital and the third option invests $7 million in the pension fund, $7 million in an endowment for major capital and $6.5 million for immediate investment in infrastructure maintenance. More information on the options can be found at www.fallschurchva.gov/WaterSaleProceeds.

Residents who cannot attend Saturday’s meeting are invited to submit comments to the City Council via the City Clerk by email at cityclerk@fallschurchva.gov or at a City Council meeting during the public comment period.

Saturday’s meeting will be broadcast live on FCCTV (Cox channel 11, RCN, channel 2, Verizon channel 35) and on the FCCTV YouTube channel.

 

 

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