The Falls Church City Council and the city Industrial Development Authority will meet in joint session Sept. 21 to discuss a proposal to widen the authority's power to issue tax-free bonds to private interests.
At issue is a proposal that would allow developers to obtain industrial revenue bond financing, even if their plans do not conform with the Falls Church master plan. Under the proposed ordinance amendment, the authority could issue bonds for such projects after the council approved the developer's plan. The authority now may not authorize bonds if a proposal conflicts with the master plan.
Officials said the proposal was prompted partly because, until the city's five-year comprehensive plan is updated next year, the city will have to grapple for ways to encourage development of at least 10 tracts that aren't zoned in accordance with the current master plan.
According to city business development director David Cooper, developer Larry F. Jennings has approached the authority about financing for a $1.5 million office building on a one-acre site that is slated for residential development according to the current master plan.
The property, known as the Crossman Tract, is just south of I-66 between W. Jefferson and W. Columbia streets.
The council's joint meeting with the authority will be at 8 p.m. Sept. 21 in the council chambers.