There is an intricate 30-year City plan to procure a $ 120MM new high school. It is risky because there are so many steps in the plan and each step has risk. The risks have been identified and there are mitigation plans to help keep each risk from occurring, but there is little or no contingency planning for the situations if the risks were to come true.  Some call this stress testing, sensitivity testing or modeling. For example, the City says the worse consequence of many of the risks would be that taxpayers would have to pay the $ 7.4 MM bond payment every yearRead More →

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Prior to the 2008 real estate bust, many Americans had purchased homes that they could not afford comfortably, at least if judged by traditional lending practices that had been in place for decades. By 2007, lending standards had been relaxed, adjustable loans with low initial rates had been pushed, and the accepted assumption was that home values would continue to increase. Good people who wanted the American Dream for their families and who had every good intention of paying back their mortgage faithfully, ended up not being able to do so, eventually losing their homes and savings. The laws of economics don’t care much aboutRead More →

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The $120 Million 30 Year George Mason School Bond Gambling with the Future of the City and Schools Referendum Proposes Highest Per Capita Debt in Northern Virginia Many Impacts on Our City Enormous Debt & Operating cost restricts future funding for teachers & police City’s debt per citizen will triple, greatly exceeding the rest of Northern Virginia Reduces ability to borrow for other city and school needs Denies voters a choice of renovation vs a larger GMHS designed to justify growth Tax rate escalation that will affect the sale value of homes GMHS Development plan would add 1,000 more new apartments New apartments will generateRead More →

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