Fairfax County adopted a new program on September 15, 2020, that provides an economic incentive to the private sector to purchase, assemble, revitalize and redevelop property for economic development purposes. Called the Economic Incentive Program or EIP, the program was established by ordinance. The ordinance amends Chapter 4 of the County Code to create a new Article 29 entitled “Incentives to Encourage Economic Growth”. View the Ordinance
Financial and Regulatory Incentives
Financial incentives include a ten percent reduction of site plan fees and a partial abatement of the real estate taxes on the difference between the base value of a property and its post-development value, including any increase or decrease in the annual assessed value of the tax-exempt portion of the property. In addition to the financial incentives, there are regulatory incentives such as expedited scheduling of zoning applications, concurrent processing of a Comprehensive Plan amendment and zoning application, and concurrent processing of a site plan with a zoning application.
- The development proposal must be located within one of the six designated Economic Incentive Areas:
- Annandale Commercial Revitalization District (CRD)
- Bailey's Crossroads / Seven Corners CRD
- McLean CRD
- Lincolnia Commercial Revitalization Area (CRA)
- Richmond Highway CRD, adjacent Suburban Neighborhood Areas, and portions of the Huntington Transit Station Area (TSA): Map 1, Map 2, Map 3
- Springfield CRD and the non-single family portion the Springfield TSA
- The proposed development must be commercial, industrial, and/or multi-family residential
- The application must contain a newly proposed assemblage, not previously submitted for rezoning or site plan approval of at least 2 contiguous parcels totaling a minimum of two acres. However, the Board of Supervisors may make an exception regarding the minimum size of consolidation.
- The proposal must be consistent with the consolidation and use recommendations of the Comprehensive Plan, and all laws and policies related to the provision and preservation of affordable housing.
Economic Incentive Areas - Effective Dates
Each Economic Incentive Area is in effect for a period of ten-years. This timeframe is the period within which a qualifying property will be able to avail themselves of the partial real estate tax abatement. The partial real estate tax abatement does not extend beyond the specified timeframes, regardless of when a property becomes qualifying.
Annandale Incentive Area: January 1, 2025 to December 31, 2034
Bailey's Crossroads / Seven Corners Incentive Area: July 1, 2022 to June 30, 2032
Lincolnia Incentive Area: January 1 2025 to December 31, 2034
McLean Incentive Area: July 1, 2024 to June 30, 2034
Richmond Highway Incentive Area: July 1, 2024 to June 30, 2034
Springfield Incentive Area: July 1, 2024 to June 30 2034