Financial advisory services needed by the City of Falls Church to execute the best outcome for the 36-acre George Mason High School Redevelopment Project were authorized by the Falls Church City Council for the execution of contracts with Savills Studley, Davenport and Tischler Bise to complete work with Phase One of the project for $91,780. In addition, City Manager Wyatt Shields noted that “in the event that the City proceeds with Phase 2, the anticipated costs for the more detailed financial advisory work over the calendar year of 2016 would be another $247,520 for a total of $339,300.” The Council had budgeted $500,000 toward the project for the work of the Steering Committee and the overall planning effort that began last year.

To date, $477,000 of that initial appropriation has been spent or encumbered over the past two years. It is anticipated that should the Phase II portion of the plan commence that a budget amendment will be required for $310,000 to cover the next expenses for the next spring and the Fiscal Year 2017 following it.