City's Economic Base

Understanding our Larger Issues – Need for Vital Economic Base

The City’s need for a vital economic base
Fully developed cities like Alexandria have few choices, apart from raising taxes, than to promote infill redevelopment as a means to generate new income. New tax revenue sources are necessary to fund capital programs, accommodate growth, attract new business, fund pension plans, and maintain community service in an era of declining revenues. Underscoring this point are key goals and initiatives contained in the City’s Strategic Plan. Those that will impact Old Town seek to:

  • Increase the vitality and economic success of the City Waterfront and the King Street Corridor.
  • Support a vital hotel sector.
  • Improve access, circulation and parking for visitors and residents to travel by all modes to the King Street/Waterfront area 

However, as Old Town residents, we have the right to ask whether this pursuit of tax revenues and new business will overwhelm us. Old Town’s historic charm, walkable urbanism, and mix of uses are a rare combination worth protected and conserving—does the City factor this sufficiently into its planning and development process? The challenge for all stakeholders in our community, residential and business alike, is to recognize the tipping point where the essential character of Old Town has been eroded by over-development and over- commercialization.

 
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