Background:

This past spring the county, with the assistance of its consultant Streetsense, successfully concluded Phase I of an Economic Visioning Study for the Lake Anne Commercial Revitalization Area (CRA).  The goal of the study was to build a community consensus around a positive path forward for the Lake Anne CRA.  We sought an economic vision that was aspirational, grounded in market realities, and able to strengthen the economic viability and sustainability of the area.  There was extensive participation by the Lake Anne community to shape the economic vision through a combination of focus groups, an online survey, and several in-person workshops and meetings.  I am pleased to announce that this goal was achieved and that there is substantial alignment on the economic vision among community members. 

Following the Phase I work, the county, working with Streetsense, will assess individual property owner interests and their willingness to partner on implementing the vision.  Phase II (already funded) is critical to structuring a final scope of work that will explore the feasibility of various aspects of the economic vision. 

The third and final phase of work will involve the participation of Streetsense and sub-consultants with specialized expertise and knowledge in areas such as civil engineering, land use and condominium law, economic feasibility analysis, and the assessment of cultural/institutional uses.  Phase III will build on the understanding gained through Phase II and will investigate various options for implementation in-depth.  This information will provide landowners and the county with a clear understanding of options and allow all stakeholders to construct an actionable plan for realizing the economic vision.  Phase III of the Economic Visioning study is expected to commence in the first quarter of 2024.

Motion:

Therefore, I ask, without objection, that the Department of Management and Budget include $200,000 for a Phase III of the Economic Visioning Study as a consideration item for the FY 2023 Carryover Adjustment.