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Morning Notes

by ARLnow.com May 16, 2011 at 8:13 am 2,169 18 Comments

Westover Decision Delayed Until Tuesday — The County Board voted on Saturday to delay a decision on live entertainment for the Westover Market’s beer garden until Tuesday, giving county staff three days to come up with permit conditions that would be more acceptable to concerned neighbors. [Sun Gazette]

Arlington Police Seek Tips in 1997 Cold Case — ACPD’s cold case unit is asking for the public’s help in solving the case of 17-year-old Vu Huynh, who was murdered outside Hi-Cue Billiards on Columbia Pike in March 1997. [Washington Examiner]

Arlington to Issue Bonds — The County Board has approved the sale of up to $207 million in bonds, to fund projects like the Arlington Mill Community Center, Long Bridge Park, the new Yorktown and Wakefield high schools and the Water Pollution Control Plant. The bonds will go on sale next month, and will be available to individual investors. [Arlington County]

Flickr pool photo by Mark C. White

  • CW

    Can we start referring to this Westover thing as “The Beer Garden Putsch”?

    • groucho

      Nice!

  • Brendan

    Billion dollar budget, $207 million in bonds, and they cut a few thousand bucks for the annual kids fishing day. Dollar store gimmicks.

    • dynaroo

      Priorities. Just because they are spending alot doesn’t mean they can spend on everything.

    • TGEoA

      I agree this CB loves gimmicks, but they might as well sell bonds now to take advantadge of the low rates.

    • Wayne Kubicki

      $127M of the number quoted is “new” money.

      The other $80M is the Board’s authorization (effective through the end of FY12) to re-finance already existing debt, should market conditions make that worthwhile. The County has done quite a bit of this in the past. Based on current bond market conditions, it seems unlikely that any bonds will the re-financed this time around.

  • 4Arl

    Arlington now makes its bonds available to individuals. Will the people who claim that taxes are low and the government is well-run and fiscally responsible put their money behind their beliefs?

    • Thes

      It would be poor financial planning for anyone who owns real estate in Arlington to also purchase Arlington County bonds. In the event of a natural or man-made disaster, you’d lose value on both assets at the same time.

      • charlie

        Are you suggesting people not invest in Arlington? Investment real estate — such as rentals? What about Arlington-based businesses — either small or Fortune 500?
        I am astonished that someone with endless optimism about Arlington and our Arlington Government is advocating not buying our local government bonds. Do you no longer believe?

        • dynaroo

          Nice try, charlie. Move along.

        • Burger

          Um…It is called diversification. It is why, regardless of its long term viability, you shouldn’t be heavily invested in t-bills because you already own a ton via social security.

          It is also why you, if you own a home, shouldn’t be invested in real estate unless you have an estatblished level of assets because you will be doubly impact if RE prices crash.

    • CW

      Yup. Diversify your investments; don’t go all-in.

    • Eponymous Coward

      Depends on the return. Risk is only one component of the investment calculus; the expected return must also be considered, which depends on the bond yield.

      A poorly managed municipality might still be a better investment if the return on the bond is sufficiently higher, and the increased exposure matches your risk preferences.

      • Thes

        It’s not about risk, it’s about diversification.

        For the same reason you shouldn’t invest your 401(k) in your company stock. If the company suddenly has a scandalous disaster you could be laid off and lose your savings at the same moment. So you should invest your savings in the stock of other companies — even risky company stock that’s not your own company (or your own industry) allows you to reap the returns that come with risk while balancing that against your income.

        Arlington bonds are just about the lowest risk possible — triple-AAA rated. So you’re going to get a very low rate of return on them, anyway. If you own property in Arlington, and want that kind of safety, you’re best off buying bonds in one of the few other AAA jurisdictions that won’t be incinerated by the very same terrorist “dirty bomb” as your house. That way you’ll have the money to buy a new house somewhere.

        • AllenB

          Thousands of MCI/WorldCom employees would, now, agree with you.

        • charlie

          if Arlington is “incinerated” it would probably include me. And buying another house somewhere would be the very least of my concerns.

        • Lacey Forest

          I take heart in that I am generally upwind of both the District and the Pentagon.

          • charlie

            ah yes, but Lacey Forest as a location will get caught up in the secondary burn ring of an nuhklear bomb.

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