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So, about that $20 million that Amazon has offered up to Arlington& #39;s Affordable Housing Investment Fund. Let& #39;s be clear on what this contribution is. It& #39;s not an act of charity. It& #39;s Amazon meeting county requirements. (continued) @wamu885
With that $20 million contribution to affordable housing funds, Amazon is meeting standards that apply to companies that want to build bigger buildings than zoning allows. (continued)
In simple terms: In Arlington, if a developer wants to build bigger than they& #39;d normally be able to, they have to make a contribution of some kind to affordable housing. They can build the housing themselves, either on or off-site. Or they can make a cash contribution. (cont)
Amazon took the cash route. They negotiated with the county on this. The $20 million contribution is "a combination of requirements of the Zoning Ordinance and as partial compensation for the additional density being requested," according to the site plan.
It& #39;s true that $20 million is a significant contribution to Arlington& #39;s affordable housing loan fund. But it& #39;s not Amazon going above and beyond. They& #39;re meeting the bare minimum in exchange for more square footage. (continued)
Think about it from Amazon& #39;s perspective. Why would the company exceed county requirements for affordable housing? That could set a costly precedent for future developments in other places.
This is a company that is extremely pragmatic and playing the long game.
That is all.
This is a company that is extremely pragmatic and playing the long game.
That is all.
