Letter: City’s Wise Investments

Letter: City’s Wise Investments

Letter to the Editor

— To the Editor:

The City of Alexandria just received a bond rating upgrade — to AAA stable. You cannot get any better than this! Thank you to our city elected official and highly competent staff. The Standard and Poors report states: Strong budgetary performance with a history of balanced financial operations and break-even operations, very strong liquidity, very strong management, low carrying charges, and low net debt with rapid amortization.

Our city has invested in important infrastructure. Because of improved schools, the attendance at our public schools has increased. Roadways including curb and gutter are being maintained. We have wonderful libraries and recreational centers. The city through taxes generated from the new development on the riverfront, is now able to address the constant nuisance flooding. A new Metro stop at Potomac Yards will attract private investment and increase the Metro usage while reducing traffic on our roads. There are more projects needed and the city has recognized them in its 10 year Capital Improvements Budget. These will be financed and constructed in a methodical fashion as the city has done before.

Allison Silberberg and two of the Republicans running for City Council, Bob Woods and Townsend Van Fleet complain about the city’s debt. While the professionals say “Overall net debt is, in our view, low at just 1.6 percent of market value. We consider debt amortization rapid with officials planning to retire more than two-thirds of debt over 10 years.” (Standard and Poors).

Our city leaders have made infrastructure investments in the lowest interest rate environment in decades. I applaud their decisions. What projects would the candidates mentioned above eliminate: Schools and

libraries in the West End; improvements in Del Ray; roadway improvements? Political candidates especially those from Old Town need to recognize that there are 150,000 residents in Alexandria and public

infrastructure development is a critical investment in our city. Candidates should not yell “fire” by raising a non-existent issue when we have an amazingly well run city, recognized by the Bond Rating agencies as AAA. We should re-elect our current city council, including a write-in-vote for Mayor Bill Euille to assure that we continue with the job well done.

Lynn Hampton