The unusual economic-incentives deal had been subject to questions about whether funding a movie theater was an appropriate use of public money.
from some residents and city leaders who questioned whether funding a movie theater was an appropriate use of city money. An initial vote set for September was delayed after the city’s planning commission recommended against the deal., which proponents had hailed as a way to secure Falls Church’s first new cinema in decades — a deal that had already been cemented by lawmakers years ago.
Under the deal, Falls Church would essentially redirect much of the revenue it collects over the next three decades through taxes on ticket and concessions sales at the cinema back to the developer and property owner, Mill Creek Residential Trust.
The first $20,000 generated by the city’s 10 percent ticket tax will stay with Falls Church. Any money collected beyond that up to $340,000 would go back to the developer in the form of annual grants. The agreement is also contingent on the developer meeting certain milestones meant to keep the developer on track on this long-delayed project. They include: executing a lease by the end of the month, submitting design drawings to the city by Dec. 31, and opening the theater by March 2024.
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