Fairfax County Revitalization: 2009 Conference
Fairfax County Revitalization: New Market Realities
On September 16, 2009, the Office of Community Revitalization and Reinvestment held its first conference on redevelopment within Fairfax County. The 2009 conference, titled “Fairfax County: New Market Realities,” focused on how the economics of redevelopment have changed due to the recent economic downturn and the challenges and opportunities arising from the downturn.
The conference, which was held in the Fairfax County Government Center, had well over 100 in attendance. Attendees were a mixture of representatives from the real estate development, financing, and public sectors.
The conference was broken down into three sessions. The first session treated attendees to the analysis of Joshua Kahr, who provided a review of the reasons behind the financial crises and discussed ways to prevent future crises and his thoughts on future economic trends as the country moves from crises mode to management mode.
The second session was a panel presentation from four regional leaders in commercial and residential development. The panelists shared their thoughts on the regional economic landscape, how they viewed the impact of the financial crises, and how they are positioning their companies to weather the storm and position themselves for future development opportunities.
The third and final panel session provided an overview of public/private funding partnerships. The panel discussed innovative financing mechanisms that are available within Virginia and the larger region. These non-traditional financing mechanisms included Tax Increment Financing and Community Improvement Districts. The panelists discussed successful examples of these mechanisms and what public and private requirements made them succeed. In addition, they also discussed the impact of the financial crises has had within the construction bond markets.
WAMU, a local public radio station, covered the event and has posted the following one-minute news summary on the conference.
An agenda and video recording of the conference are also available.