Vienna-Based Credit Union Offers Interest-Free Financing For Pool, Fitness Center Design

VIENNA, VA — As Vienna Town Council continues discussions on a possible temporary meals tax hike to pay for an indoor pool and fitness center, a credit union is offering help with lending.

Navy Federal Credit Union, which has its headquarters in Vienna, is pledging to offer interest-free financing for design of the pool and fitness center facility. The pool and fitness center were identified as the top community choices for the annex property at 301 Center Street S, which the town bought in fall 2020 from Faith Baptist Church. The town is still considering a temporary 1 percent meals tax to pay for the project.

"Navy Federal Credit Union is a part of the Vienna community, and we have long been a proud supporter of the Town’s events and activities," said George Eichert, Navy Federal Credit Union’s senior vice president of workplace infrastructure and logistics. "Many of our employees live in the Vienna area, and we are excited about the prospect of assisting the Town in building this facility for the benefit and health of the community."

Navy Federal's incentive is intended to help the project move forward sooner, according to the town.

"This is such an exciting opportunity for Vienna, and we are grateful for Navy Federal’s continued support of our community," added Vienna Mayor Linda Colbert in a statement.

Town Council is exploring the option of a temporary 1 percent meals tax increase to help fund the project sooner, allowing an opening by 2030. Through the normal capital improvement process without extra meals tax revenue, the town government believes the facility could open no earlier than 2040.

Under the proposal, the temporary 1 percent meals tax addition would begin on Jan. 1, 2025 and sunset ten years later, on Jan. 1, 2035. The town used the same kind of temporary meals tax increase from 2002 to 2008 to pay for the Vienna Town Green. The town already imposes a 3 percent meals tax and says Fairfax County's proposed meals tax won't affect the Town of Vienna.

Residents can learn about the proposed Vienna meals tax hike and ask questions at a town hall at 6:30 p.m. Oct. 22 at Vienna Town Hall, 127 Center St. S, Vienna, VA. The meeting will be available virtually on the Town of Vienna Community Network (Cox 27 and Verizon 38) and online at www.viennava.gov/TVCN.

A public hearing on the proposed meals tax increase will be held during Town Council’s Nov. 18 meeting at 7:30 p.m. at Vienna Town Hall. A final decision is expected on Dec. 9.
Residents may provide input at the Nov. 18 public hearing, email the full Town Council at council@viennava.gov or call the Town Clerk’s office at 703-255-6304.