This Monday, the Falls Church City Council will take up the issue of paying an additional $1,207,000 for completion of the City Hall renovation project, City staff having negotiated the agreed upon price with Hitt Construction. A fiery discussion of the matter took place at Tuesday’s City Council work session.
City Manager Wyatt Shields said the cost can be absorbed by the surplus the City built up in the current fiscal year by delaying a first payment on the bond for the new high school and otherwise favorable (low interest rate) economic conditions.
Shields said the excess funds that are projected to arise from greater than expected increases in City real estate assessed values will land the City only about $75,000, with an equal portion going to the City schools per an informal revenue sharing agreement in effect for the first time this year.
