Fact brief: Do property taxes fund the Arlington Tomorrow Foundation?
No.
The Arlington Tomorrow Foundation’s charitable fund is financed by gas-well revenue from the city, according to its resolution and grant agreement.
The foundation — the public charity arm of the city — has other funds, such as for the cemetery or airport. These funds are replenished with revenue from the corresponding properties.
A proposal to use money from the charitable fund to pay for the redevelopment of an apartment complex in Fielder Square failed on Aug. 27.
If the proposal had passed, the foundation would have used about $37 million from the charity fund to buy the complex and pay for relocation services.
The foundation was established in 2007 and tasked with redistributing revenue to other organizations for the betterment of the city. The funds are separate from the city’s general budget, which uses property taxes as its primary revenue source.
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Disclosure: The Arlington Tomorrow Foundation has been a financial supporter of the Arlington Report.
Sources
- Arlington Report $37 million funding for Fielder Square fails; city looks for next steps
- Arlington Tomorrow Foundation Resolution and Grant Agreement
- City of Arlington Email about ATF
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