This fund is used to account for the special assessment collection on real property for the purpose of paying debt service to finance and construct public infrastructure at the Dulles Town Center development. The Dulles Town Center Community Development Authority (CDA) was created by the Board of Supervisors in 1998 via Section 260.03 of the Codified Ordinances of Loudoun County after petition from the owners of land comprising the district. The bonds issued by the CDA are not debts of Loudoun County.
In the initial years of this fund, the Board did not appropriate for it during the annual budget process; instead, appropriations were made as they were needed. In an effort to standardize the process, this fund is now included in the annual appropriation for the adopted budget.
The Board of Supervisors and the county are only responsible for imposing the special assessment, collecting the semi-annual installments, and forwarding collected monies for the benefit of the Dulles Town Center Community Development Fund.
There is no local tax funding in the District/Fund.