If you haven’t heard before now, the US Treasury Department, through its Financial Crimes Enforcement Network, is implementing new requirements of the Corporate Transparency Act (“CTA”) beginning January 1, 2024.  Is that popping sound the bubbles from your New Years Eve toast? No, it is many corporate heads waking on New Years Day to the fact that anyone with substantial control over a private corporate entity is required to register their personal information with a new Federal database, specifically created to, in the words of the Fed, “protect the United States from bad actors who exploit anonymous shell companies to engage in money laundering, corruption, sanctions and tax evasion, drug trafficking, fraud, and a host of other criminal offenses with impunity, while legitimate businesses suffer from their misdeeds.” 

Bad actors may stop reading now, for the rest of you, we provide this brief primer on what must be submitted to the Federal database to prove you aren’t the bad guy. If you are the one in charge (i.e. you own 25% or more of the entity or you exercise substantial control over it) be ready to provide your name, date of birth, physical residential address (current within 30 days no less!), and photographic evidence showing your driver’s license or other government issued identification number, just to get started.  In addition, similar details about the entity itself must be provided too.  As with any new governmental requirement, there are as many rules and exemptions associated with the reporting requirements as fireworks at midnight.  Consider the ones addressed below the equivalent of party-poppers.   

Any private entity (that’s any entity filed with a state corporation commission or secretary of state’s office) which doesn’t qualify for an exemption must comply with the reporting requirements.  The exemptions cover entities that are highly regulated and already report similar information to the Fed watchdogs (looking at you securities folks, financial institutions, venture capitalists, insurance providers). Other exemptions apply to large operating companies (those with 20+ employees, $5M plus in annual gross receipts, and a physical presence in the US), 501(c) nonprofits (not you, homeowners associations!), government entities, and utilities.  If your company doesn’t qualify for one of those, congrats – you’ve got a corporate new year’s resolution for 2024! 

If this ball does drop on your entity at midnight, let’s talk compliance deadlines.  If your company existed prior to January 1, 2024, you have until year-end 2024 to file (but don’t procrastinate – you know the party planners are already anticipating NYE 2025). If you form a new company in 2024, it must meet the filing requirements of the CTA within 90 days from the date of organization.    

Thinking this exercise in paperwork isn’t worth the time or effort? Well, the Fed would disagree, and for willful non-filers or those who file fraudulent information, the Fed can assess a civil penalty of up to $500 for each day that the violation continues or criminal penalties including imprisonment for up to two years and/or a fine of up to $10,000 against the senior officers of the entity.  Not the way to kick off your best year ever. 

Walsh Colucci knows this new reporting requirement is no joke and will affect many of our clients in the real estate industry.  So, start your 2024 off right and don’t wait to get the information you need to either have peace of mind or ensure that your entity files timely.  We can help you work through this process.  Feel free to reach out to Erin Moore Thiebert, Chuck McWilliams, Susie Truskey, Blake Browning, or Will Gibson to schedule time to discuss your next steps. 

WHAT YOU’LL LEARN AT THIS FAIRFAX COUNTY VA COMMERCIAL REAL ESTATE EVENT

• What is in store for Fairfax County’s development pipeline? What projects are planned for 2024 that are redefining the areas into a live-work-play destination?
• Why are new residents, tenants and businesses being drawn to areas like Falls Church, Merrifield, Reston, Tysons, etc.? How are developers and investors selecting neighborhoods for their projects? What factors are being considered?
• What types of initiatives is the county’s government putting in place to incentivize developers and investors to build in other areas aside from Reston and Tysons?
• What affordable housing initiatives is the county providing for new projects? How are developers working to continue creating attainable housing strategies as residents continue to relocate throughout Fairfax County?
• With data centers on the rise within the county’s pipeline, what opportunities will this bring for the area? What challenges or risks will it present?  What other asset classes are seeing more attraction from developers and investors?

 

How You’ll Do More CRE Business: 

From Mosaic District to Amazon-backed Dominion Square, Fairfax County is seeing a tremendous amount of growth and opportunities! With a population of about 1.14 million, developers, investors and other businesses are bringing in big projects to hit demand in cities like Merrifield, Tysons and Reston while also overcoming today’s economic challenges. Join Fairfax County’s biggest influencers and executives as they discuss the newest projects, hottest neighborhoods, market challenges and much more!

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Arlington County has experienced unprecedented significant growth in the past few years, as top companies have chosen Arlington as their regional or in some instances global headquarters. At the same time, the real estate market is facing serious challenges, as office and retail vacancies continue. This has brought into question the viability and future of real estate in Arlington. Building off the success of last year’s Why Arlington event, the Arlington Chamber of Commerce is proud to present a panel on The State of Real Estate to hear from top leaders about their perspectives on the future of commercial, retail, and multi-family residential real estate in Arlington.

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On September 26, 2023, the Fairfax County Board of Supervisors approved a comprehensive update to parking regulations. Known as “Parking Reimagined,” the update provides a wholesale modernization of Fairfax County’s Parking and Loading Regulations under Article 6 of the Fairfax County Zoning Ordinance.

The updates include new tiered parking reductions, minimum bicycle rates, revised parking and loading ratios for many land use types, and more.

The parking updates – which follow more than two years of County-led research, community outreach, and public hearings – are summarized in the staff report and subsequent staff report addendum. Additional information on Parking Reimagined may be found here.

What You’ll Learn at this Virginia Neighborhood Event

• Pathway 2040 – Where does Prince William County stand with its latest comprehensive plan compared to last year?
• With the growth of certain asset classes, including multifamily, life sciences and data centers, how is the region handling the higher demand?
• How is affordable housing being prioritized in newer developments?
• How have local organizations partnered with large corporations to create economic development and job growth opportunities?
• What neighborhoods, such as Woodbridge, Gainesville, Haymarket, Manassas, are seeing greater demand compared to the past few years? What is drawing developers and investors into these areas?
• With inflation and rising interest rates posing a challenge to the sector, how are these issues impacting decisions for new construction or current projects?
• How does Prince William County VA compare to other mid-Atlantic cities? What is the area doing differently to compete with these other regions?

How You’ll Do More Business: 

Prince William County continues to gain interest and attention from many investors, developers, residents and businesses. As mixed-use developments are becoming hot and data center campuses are exploding in popularity, the region is working toward a bright future for all. Join us as we discuss the latest initiatives, economic development plans, hottest asset classes, popular neighborhoods and more! Read More

On September 13, 2023, after nearly four years of civic engagement and more than 60 virtual and in-person meetings, the Fairfax County Board of Supervisors adopted major updates to the Reston Comprehensive Plan.

Much of the updated plan, which constitutes the first such major update since 2015 and applies to all of Reston, was drafted by a citizen-led task force in coordination with staff.

The plan carries forward the prior plan’s emphasis on higher intensity mixed-use development in the Transit Station Areas and, with few exceptions, does not make substantive changes to those areas.

At the same time, the updated plan recommends maintaining existing residential densities in Reston’s village centers and, with the exception of Tall Oaks and Lake Anne, eliminates options for residential redevelopment for non-residential portions of the village centers absent a subsequent comprehensive plan amendment (which, the plan says, should be limited to 20 units per acre).

In terms of housing affordability, the plan retains the Reston-specific sliding scale affordability recommendations (with a minimum of 12 percent WDUs), but brings the Area Median Income tiers in-line with countywide policy.

In terms of environmental sustainability, the updated plan recommends land use applicants reduce the volume of runoff of the two-year, 24-hour storm by 30 percent from the predevelopment runoff amount at ultimate buildout. The plan also acknowledges that while achievement of LEED Silver certification for new development is the Countywide policy, land use applicants should be encouraged to achieve higher certification levels.

The updated plan also includes language related to evaluating community health and equity in land use decisions, reducing density in non-Transit Oriented Development areas, and introducing new open space principles.

With adoption of the updated plan, it is anticipated that attention will now turn towards reviewing the myriad Reston Site-Specific Plan Amendments, most of which are located within or proximate to Reston’s Transit Station Areas.

More information can be found on the plan amendment’s project webpage, found here.

The final adopted text may be found in the Board’s meeting package, beginning on Page 224 of the Board’s meeting package, found here.

The firm’s Leesburg Office has continued to work with industry partners such as the Loudoun Chamber of Commerce, NVBIA, and NAIOP to engage the Loudoun County Board of Supervisors and County staff as they continue their work on updating Loudoun’s Zoning Ordinance (see previous update here). When the proposed Zoning Ordinance is adopted, it will be the controlling document for all development in the County as the primary implementation tool for the Loudoun County 2019 General Plan, a policy document that provides guidance for elected officials and other governmental decision-makers as to where and how the community will continue to grow over the coming years.

Following completion of the Planning Commission’s review earlier this year, and a Board of Supervisor’s public hearing in July, the next step in the County’s process is for the Board to conduct a series of work sessions to go chapter-by-chapter to review the remaining outstanding issues within the Zoning Ordinance. The Leesburg Office has worked, and will continue to work, hand-in-hand with our clients and industry stakeholders to provide solutions and options for resolving as many concerns that remain with the current draft Zoning Ordinance as possible.

The Leesburg Office has worked specifically with the industry partners to provide redline edits for each chapter to facilitate potential motions adopting these proposed changes by the Board at each work session. The first submission of these efforts was sent via the Loudoun County Chamber of Commerce earlier this month and can be viewed online here.

We remain committed to engaging with the Board and County staff throughout the coming months to empower the adoption of a Zoning Ordinance that meets the vision of the 2019 without being overly prescriptive and burdensome.

The Board’s work sessions will be held at the Loudoun County Government Center, located at 1 Harrison Street SE in Leesburg. All of the Board’s public meetings are televised on the County’s cable channel, Comcast Government Channel 23 and Verizon FIOS 40, and livestreamed online. The complete text of the Draft Zoning Ordinance being considered by the Board is available for review on the county website.

Current Schedule of Work Sessions

The Board’s first work session was held on Thursday, September 7, 2023, at 6:00 p.m. Documents prepared for the September 7 meeting are posted online here. All subsequent work session documents will be posted on the county’s website.

The sections and chapters reviewed during the September 7 meeting were: 

• Chapter 1: Introduction
• Chapter 2: Zoning Districts (All)

The Board’s second work session was held on Monday, September 11, 2023, at 6:00 p.m. and covered:

• Chapter 3: Uses (w/in Urban, Suburban, Office & Industrial Zoning Districts)
• Chapter 4: Use Standards (w/in Urban, Suburban, Office & Industrial Zoning Districts)
• Chapter 12: Definitions

Watch the Board’s September 7^th work session by clicking here.
Watch the Board’s September 11^th work session by clicking here.

Leesburg Office Land Use Planner Matt Leslie has played a critical role in the industry’s efforts to shape the outcome of this process. As one of three speakers chosen to participate during the Board’s Committee of the Whole at the September 11^th meeting, Matt has placed our firm at the forefront of those within the industry working to facilitate solutions that result in the best possible outcome for the Zoning Ordinance Rewrite process.

The remaining schedule of work sessions is as follows:

• September 26: Chapters 3,4, & 12 – Uses/Definitions (w/in Rural, Transition & JLMA)
• October 2: Chapters 5 & 6 – Overlay Districts and Natural & Environmental Resources
• October 12: Chapters 10, 11, & Appendices – Procedures, Officials, & Modifications
• October 16: Chapter 7 – Development Standards
• October 23: Chapter 8 – Signs
• October 30: Chapter 9 – Attainable Housing & Chapter 12 Definitions

Our Leesburg Office stands by ready to assist our clients and stakeholders in providing information and updates, in an effort to protect individual property rights, and safeguard against unnecessarily prescriptive and burdensome regulations which may limit Loudoun’s land use and economic potential. While we are hopeful that a substantive and thorough review by the Board will result in the necessary changes, the time and opportunities to provide further input are not limitless. For this reason, we would highly encourage anyone with specific questions or concerns to reach out to J. Randall Minchew so that we may begin to assess your case.

On July 15, 2023, the Arlington County Board adopted Zoning Ordinance amendments and a new County Code chapter to codify the recommendations of the Future of Outdoor Dining (FOOD) Study related to outdoor dining areas.

The amendments seek to streamline the approval process such that outdoor café seating may be approved via an administrative or use permit review process in both public- and privately-owned spaces. The draft framework proposes amendments to Articles 7, 8, 12, and 14 of the Arlington County Zoning Ordinance.

Some of the changes include the following:

• On Private Property (Not Subject To County Easements): Outdoor cafés must obtain a outdoor café license created under the newly-adopted Chapter 70 of the Arlington County Code. Café furniture (e.g., tables, chairs, bars, server stations, and canopies) would be permitted to be affixed to the ground, and sound/AV equipment will no longer be permitted in areas across an alley or abutting a R or RA districts without use permit approval. Lighting must be located within or immediately adjacent to the outdoor café and be directed into the outdoor café area. Outdoor cafés may be located on non-required parking spaces, and on otherwise required parking spaces with approval of a use permit.
• On Public Rights-of-Way/Sidewalks: Outdoor cafés may be permitted by administrative approval subject to obtaining a Chapter 70 outdoor café license and adhering to revised Zoning Ordinance standards. Outdoor cafés must be located in front of restaurants (rather than separated from the restaurant), cannot be enclosed, must adhere to normal operating hours of the restaurant, and ensure a minimum six-foot wide straight and unobstructed clear sidewalk zone. Sound and AV equipment may be permitted within day/hour restrictions as specified by the Zoning Ordinance.
• On Privately Owned Public Spaces (“POPS”): POPS refers to areas of private property that are either subject to public access easements/licenses, or were dedicated publicly-accessible areas per a prior zoning entitlement (e.g., a plaza or courtyard). Outdoor cafés may be permitted in POPS only by use permit and a Chapter 70 outdoor café license. The use permit review process will confirm, among other things, that the POPS was not provided as a community benefit for the purpose of earning additional density, that the proposed outdoor café would not obstruct or prevent public access to pathways or points of interest, and the proposed outdoor café space would be a minor feature relative to the overall square footage of the POPS.

Initial application period for the permits and licenses needed for outdoor dining will run from September 1^st through October 16^th.

Recognizing the need to broaden the types of food-related uses that could be permitted in commercial areas (e.g., shared kitchens, catering establishments, etc.), the County Board revised the Zoning Ordinance’s use tables and outdoor café regulations (under Article 12) to permit outdoor cafés as an accessory use to a food establishment.

Staff is also in the process of updating the County’s Guidelines for Outdoor Cafés to reflect the changes to the review and approval processes.  It is anticipated that the updated administrative document will be posted online and available in Fall 2023 and will serve as a comprehensive resource for applicants.

Restaurants are a critical component of sustainable and active mixed-use areas in Arlington County. The County’s pandemic-era Local Emergency Declaration, which expired on August 15, 2022, created an expedited process for temporary outdoor dining seating areas (“TOSAs”) to allow restaurants, bars, and cafes with valid Certificates of Occupancy to provide outdoor seating through an expedited and application process.

More specific information on the adopted changes may be found here.

 

 

 

On June 27, 2023, the Fairfax County Board of Supervisors approved a request by Falls Church Gateway Partners – Metro LLC (“FCGP”) for a rezoning, conceptual development plan, and final development plan for the redevelopment of the approximately 24-acre West Falls Church Metrorail Station site.

FCGP is the joint development partner selected by the Washington Metropolitan Area Transit Authority (“WMATA”) to redevelop the site, is comprised of three members: ME Homes Associates, LLC (an affiliate company of EYA, LLC), Rushmark West Falls, LLC (an affiliate of Rushmark Properties, LLC), and HA FC Metro LLC (an affiliate of Hoffman & Associates).

The station, which has long served commuters since it opened in 1986, today consists of a transit bus loop, a parking garage and large surface lots, older infrastructure, access roads, and a stormwater management pond.

Like Fairfax County’s other Orange Line and Blue Line stations, the West Falls Church was originally constructed during an era in which the County prioritized automobile-oriented commuter accessibility over walkable mixed-use transit-oriented development.

Once among the busiest Metrorail stations, ridership at West Falls Church declined precipitously following the 2014 completion of Phase 1 of the Silver Line. This reduction led WMATA to file a request for an amendment to the Fairfax County Comprehensive Plan (Plan Amendment 2018-II-1M) to transform the Metrorail site into a higher-density, pedestrian-oriented neighborhood.

WMATA’s request was subsequently consolidated with a separate request by Virginia Tech to redevelop its adjacent 7.5-acre Northern Virginia Center site. Following a two-year community review process, the Comprehensive Plan amendment was adopted by the Board of Supervisors on July 13, 2021.

As approved, the redeveloped Metrorail site will include up to 1,001,105 square feet of new development, consisting of between 720 and 810 multifamily units, 110,000 square feet of office uses, and 10,000 square feet of ground floor retail and active uses.

Representing a major step forward in implementing the Comprehensive Plan, the project will complement the nearby “West Falls” development, which is under construction on the approximately 10-acre former George Mason High School site in the City of Falls Church. When taken together, the three sites are anticipated to evolve into a larger 42-acre inter-jurisdictional neighborhood that will not only be transformative but offer an inter-jurisdictional land use planning model entirely unique in Virginia.

Substantial infrastructure and safety upgrades will be provided for the benefit of riders, including improved pedestrian and vehicular access to the station, and a separation of the three primary WMATA vehicular facilities (Park-and-Ride, Kiss-and-Ride, and the bus drop-off). New utilities, sidewalks, streetscapes, bus shelters, wayfinding signage, and bicycle infrastructure will also be constructed.

Given the site’s highly visible location, the FCGP emphasized the need for high-quality publicly accessible open spaces, including a series of civic plazas, pocket parks, linear parks, hardscaped areas, a dog play area, and a nature-oriented recreation play area. A variety of streetscape activation and placemaking elements will also be provided.

Housing affordability figured prominently into the project, which will meet the West Falls Church Comprehensive Plan’s heightened affordable housing and workforce housing policy objective of providing 15 percent of for-sale units (based on the proposed 0.96 FAR) as affordable and 10 percent of the rental units as either ADUs or WDUs.

From a transportation perspective, the project will implement the adopted Comprehensive Plan’s street grid and pedestrian pathway system connecting this site to the Virginia Tech and West Falls sites. Of critical importance, a key piece of West Falls Station Boulevard will be constructed, which will serve as a parallel street to Haycock Road and will provide mobility between the West Falls, Virginia Tech, and WMATA sites.

Offsite transportation improvements will include upgrades to the existing Haycock Road Bridge over Interstate 66, improvements to the intersection of Haycock Road and Great Falls Street, a new right-turn lane on Grove Avenue, and signal timing upgrades at four nearby intersections.

Substantial vegetation and landscaping will be provided across the site and the project exceeds County requirements in terms of tree cover, open space, publicly-accessible open space, tree preservation, and phosphorous removal.

The project will also meet the West Falls Church Comprehensive Plan’s heightened stormwater management goals, with a 40 percent reduction in stormwater runoff below predevelopment conditions through the use of urban bioretention facilities, manufactured treatment devices, and underground vaults.

This vibrant, attractive, and transformative project is anticipated to substantially increase Metrorail ridership and reduce automobile dependency. It will fulfill the Comprehensive Plan’s vision for a high-quality mixed-use development, generate economic vitality, and provide much needed diverse housing opportunities.

Walsh Colucci shareholder Andrew Painter and land use planner Bernard Suchicital assisted FCGP throughout the process.