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Arlington taxpayers will be on the hook for nearly $8 million over 10 years to subsidize a lease that will retain the Office of Naval Research in the county.

County Board members on July 14 are expected to approve an incentive package that will keep the federal agency in its current 314,000 square feet of office space in Ballston.

Keeping the agency in Arlington “is a vital component of the science-and-technology research cluster in Ballston,” Arlington Economic Development officials said in a pitch to County Board members.

The funding, to be paid out at just over $780,000 per year, will allow the property owner to lower the rental rate by $2.50 per square foot. The funding will flow directly to the property owner (an investment group).

Arlington officials have come under criticism in recent years for offering incentives to attract and retain office tenants. Officials counter that the incentives are needed to keep Arlington competitive at a time when office-vacancy rates in the county remain historically, and stubbornly, high.

The lease extension will keep the Office of Naval Research in Arlington through at least Sept. 1, 2027.

(2) comments

jna

Question #1 --- How much has the same County Board offered Amazon? Question #2 -- How much (if anything) will the building's owner pay to the County in real estate taxes over the next 10 years? Question #3 -- How many other corporate welfare deals are in the works and how much will they cost?

CJE

[thumbdown]to out-and-out Corporate Welfare to a wealthy REIT, aided and abetted by Nannie Newsies like $ara$ota $cott McCaffrey who can't offend anyone in their quest for more ad revenue.

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