FY18 Budgets Constrained
In the next two weeks, local governments will unveil their draft Fiscal Year 2018 budgets, and the word CONSTRAINED can aptly be applied to all of them. A common set of challenges face many of our local jurisdictions including:
Robust growth in school populations and the need for new school construction;
Persistently stubborn high vacancy rates for commercial space (although this seems less severe in the City of Alexandria) and anemic residential real estate values;
Continued crisis of confidence in Metro and the obligation for additional financial contributions to the system;
Uncertain outlook with regard to the new administration and its impact on the local economy;
The specter of sequestration cuts, scheduled to resume in the fall of 2017 unless Congress acts.
While this constrained fiscal environment makes advocacy for housing resources more difficult, we know that decent, safe affordable housing is the basis for family stability and the platform to achieve greater self-sufficiency. Housing choices for low and moderate income workers are the cornerstone of a robust, diverse regional economy. This issue is too important not to have a seat at the budget table.
On Tuesday, Feb 14, Fairfax County Executive Ed Long will present his Proposed FY 2018 Budget to the County Board of Supervisors and the public.
On Tuesday, Feb 21, City of Alexandria Manager Mark Jinks will present his Proposed FY 2018 Budget to City Council and the public.
On Saturday, Feb 25, Arlington County Manager Mark Schwartz will present his Proposed FY 2018 Budget to the County Board of Supervisors and the public.