1 / 47

Developing for Fiscal, Economic and Social Health

Developing for Fiscal, Economic and Social Health. We’re a little confused. Richard Drudl. Photo: Michael Tobis University of Chicago. Things we do to increase tax base are often a bad deal. Road serving a low-density neighborhood. Rural, dead-end road Serves a subdivision of 5-acre lots

yair
Download Presentation

Developing for Fiscal, Economic and Social Health

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Developing for Fiscal, Economic and Social Health

  2. We’re a little confused

  3. Richard Drudl

  4. Photo: Michael TobisUniversity of Chicago

  5. Things we do to increase tax base are often a bad deal

  6. Road serving a low-density neighborhood • Rural, dead-end road • Serves a subdivision of 5-acre lots • Half of cost is assessed to property owners, other half is paid for by city Payback: 37 years Based on taxes being paid by the property owners • Not including additional maintenance and potential reconstruction Case study by www.strongtowns.org

  7. Road serving a set of high-value, shoreline properties • Property owners want city to improve their access road and have maintenance taken over by the public • Road serves the properties only • Proposal: property owners will cover construction costs if city takes over maintenance • Is this a good deal? Long term-maintenance cost (1 life cycle): $154,000 Long-term revenue collected by city for maintenance: $79,000 Case study by www.strongtowns.org To cover these costs within the road’s life cycle, the local tax rate would need to go up 25% with 3% annual increase for next 25 years.

  8. A sewer system for a small municipality • Small city had sanitary sewer system built with federal government support in 1960s • It has now deteriorated to the point where it needs to be completely replaced. Cost to replace the system: $3.3M Cost per household: $27,000 City’s median household income: $27,000 Case study by www.strongtowns.org Public health is now threatened by the deterioration of the sewer system. This city is now in a position where it cannot maintain basic infrastructure.

  9. The chickens are coming home to roost

  10. Low Density Development Case study by www.strongtowns.org

  11. Using Peter’s money to pay Paul by www.strongtowns.org

  12. We don’t fix the infrastructure

  13. SMART GROWTH BENEFITS PUBLIC BUDGETS Lower infrastructure costs Growth scenarios in 14 regions found that more compact development almost universally resulted in infrastructure cost savings.In some cases, these strategies would cut costs in half.

  14. Rhode Island:Smart Growth Saves Money on Infrastructure and Schools

  15. Rhode Island:Smart Growth Saves Money on Operations Estimated Operations and Maintenance Savings Local Roads: $14 million (43%) Schools: $19 million (24%) Pupil Transport: $6 million (15%) Public Sewer: $142 million (43%)

  16. SMART GROWTH BENEFITS PUBLIC BUDGETS: LOWER COSTS Lower infrastructure costs Building infrastructure to serve new development on the fringe can cost the city up to three times more per acre than urban infill development.

  17. Things we won’t do to increase tax base are often actually a good deal

  18. SMART GROWTH BENEFITS PUBLIC BUDGETS: HIGHER REVENUES Higher revenues per acre Multifamily housing in near an area’s center can generate nine times more revenue per acre than traditional large-lot, single-family housing on the fringe.

  19. Sarasota County, FL Fiscal Impact Case Study A Comparison of Tax Revenue per Acre Generated by Different Uses and Densities Source: Public Interest Projects, Inc., J. Patrick Whalen and Joseph Minicozzi, AICP.

  20. Sarasota County: Mixed-use Downtown Earns 35 Times More per Acre than the Suburban Mall.

  21. Sarasota County: Smart Growth Means Much Less Land Yields Much More Revenue

  22. Sarasota County: Examples of Tax Yields per Acre

  23. Sarasota County: Smart Growth Offers Higher Return on Infrastructure Investments

  24. Sarasota County: Smart Growth Pays For Itself 14 Times Faster

  25. Sarasota County: Smart Growth Benefits Apply to Low-rise Mixed-use, Too.

  26. Elizabeth Webbing Smart Growth Benefits Public Budgets: Higher RevenuesCase Study: Central Falls, RIHistoric Preservation Increases Municipal Tax Bases

  27. Riverfront Lofts Smart Growth Benefits Public Budgets: Higher RevenuesCase Study: Pawtucket, RIHistoric Preservation Increases Municipal Tax Bases

  28. Cleveland: Same Population 1950: 1,389,582 2002: 1,393,978 Cuyahoga Co Land Use Maps – Cuyahoga Co Planning Commission

  29. SMART GROWTH BENEFITS PUBLIC BUDGETS: COST VS. REVENUES Case study: Arlington County, VA Between 1970 and 2000, Arlington County added 15 million square feet of office and 15,000 units of housing on two square miles along its Metro rail corridor. These investments now generate 33% of the county’s real estate tax revenue - on just 7.6% of its land. Arlington residents make 58,000 trips each day on Metro, with 47% of residents along the corridor using transit to get to work. Average daily car traffic along the corridor has fallen, down from 19,785 cars per day in 1990 to 18,873 in 2000.

  30. SMART GROWTH BENEFITS PUBLIC BUDGETS: COST VS. REVENUES Advocating Smart Growth Policy in RI

  31. SMART GROWTH BENEFITS PUBLIC BUDGETS: COST VS. REVENUES Advocating Smart Growth Policy in RI Develop an Aggressive Asset-Based Economic Development Strategy • Reinstate State Historic Tax Credit • Properly fund and enhance the state’s mass transit system • Give municipalities ability & incentive to invest in their infrastructure

  32. SMART GROWTH BENEFITS PUBLIC BUDGETS: COST VS. REVENUES Advocating Smart Growth Policy in RI

  33. SMART GROWTH BENEFITS PUBLIC BUDGETS: COST VS. REVENUES Advocating Smart Growth Policy in RI Monthly e-newsletter www.growsmartri.com www.facebook.com/GrowSmartRI

  34. SMART GROWTH BENEFITS PUBLIC BUDGETS: COST VS. REVENUES Advocating Smart Growth Policy in RI

  35. SMART GROWTH BENEFITS PUBLIC BUDGETS: COST VS. REVENUES Advocating Smart Growth Policy in RI

  36. The economy: you can attract it, and you can grow it

  37. LOCATION AND FORM MATTER: WHO MOVES THERE Attracting new residents Young professionals 64% of college-educated 25- to 34-year-olds looked for a job after they chose the city where they wanted to live. - U.S. Census

  38. LOCATION AND FORM MATTER: WHO MOVES THERE Attracting new residents • Three qualities attach people to a place: • Social offerings: entertainment and places to meet; • How welcoming a place is; • Physical beauty and green spaces. • Gallup poll of 43,000 people in 26 communities

  39. LOCATION AND FORM MATTER: WHO MOVES THERE Attracting new residents Talented workers

  40. LOCATION AND FORM MATTER: WHO MOVES THERE Oklahoma City • Had the best incentives but lost the firm • Embarked on major program including: entertainment district, ball park, waterfront improvements • Mayor believes jobs will move to where people want to live

  41. Smart Growth Draws Businesses • Blockbuster Entertainment • Dallas Transit a major factor in locating in central business district near Akard Station • Brought 1,000 employees downtown. • Software company Fast Enterprises • Chose Denver over 36 other cities. • Sought location near transit stop with coffee shops and restaurants nearby. • Began hiring software engineers at an average salary of $82,000.

  42. Case Study: Lodi, CAWalkability Attracts and Sustains Small Business • Town of 60,000 launched $4.5M pedestrian-oriented project • Sidewalks widened, intersection curb bulb-outs, street trees, lighting, benches • Helped attract 60 new businesses, decrease vacancy rate from 18% to 6% and increase downtown sales tax revenue 30%

  43. Main Street USA, Disneyworld

  44. Burlington, Vermont

  45. 235 Promenade Street, #550Providence, RI 02908401.273.5711, Ext. 5jflaherty@growsmartri.com

More Related