City of Providence Tax Stabilization Agreements
|
|
- Candice Gray
- 6 years ago
- Views:
Transcription
1 City of Providence Tax Stabilization Agreements Summary of Economic Impacts Prepared by City of Providence, Department of Planning and Development In collaboration with Anne S. Galbraith, AICP Principal, ASG Planning LLC
2 December, 2017 City of Providence Tax Stabilization Agreements: Summary of Economic Impacts This report documents the economic impact of the expired TSAs throughout the City of Providence, and projects forward the impact of the current Tax Stabilization Agreements on assessed value of projects, tax revenue collections and broader economic impacts of jobs, spending and other local revenue generated from these projects. Over the last 20 years, 69 development projects have received a financial incentive from the City of Providence in the form of a Tax Stabilization Agreement. TSAs stabilize property taxes during the construction period for a new development project and phase in the payment of the increased property taxes due to the City upon completion of the project. The terms for TSAs vary from 5 to 20 years and have various compliance terms. Of the 69 projects that have received Tax Stabilization Agreements, 23 of those projects have been fully built-out and the terms of their TSAs have expired. For every $1 invested in those projects, the City has seen $7 in increased property values, $15 in construction value and $19 in annual spending in the City of Providence. There are currently 46 development projects with active TSAs that have various terms and expiration dates. Projecting forward the impact of these projects, the City can anticipate a return of $8.50 in increased property values, $7 in construction value, and $7 in annual spending on every public dollar invested in the project. Using standard economic models, this report summarizes the broader economic impact of investing in Tax Stabilization Agreements. There are significant positive impacts to the City in property taxes collected, jobs generated, square footage of new development and other revenues collected. Tax Stabilization Agreements are a powerful economic development tool to spur jobs, development and tax revenue to the City. 1
3 December, 2017 Over the last two decades ( ), the City has approved 69 TSA agreements: 23 of these have expired, with projects fully built out 46 are active today; 19 of these agreements will expire between 2020 and No. of New and Expiring TSAs by Year ( ) TSAs initiated by year TSAs expiring by year EXPIRED TSA s: Summary Statistics Year 0 End Year 2017 Total Construction Value $241.6M (year of expenditure) Total Square Feet (renovated or new) 3.3 million SF Assessed Value IF annual 2.99% $36.9M $50.8M $151.3M Actual Assessed Value $36.9M $207.3 $259.9M Avg. Annual Increase in Value (over term) Total % Increase in Value (Year 0 to 2017) % 605% Taxes Paid $1.2M -- $7.7M % Increase Taxes Paid (Year 0 to 2017) % 1 % increase based on various start years for individual TSAs through year
4 December, ACTIVE TSA s: Summary Statistics & Projections Year Total Construction Value Total SF (renovated or new) Actual Assessed Value Projected Assessed Value 3 % Increase Value over Year 0 4 Taxes paid Projected Tax Receipts 5 % Increase Taxes Over Year 0 3 $839.5M (year of expenditure) 5.3 million SF $ $492.4M (stabilized) $1.22B 42% 250% $3.7M $8.1M $44.7M 119% 1100% $1.73B 397% $63.4M 1600% 2 60% of prior year assessed value for active TSAs is due to Charter Care Hospital (69 parcels). 3 Projected Value calculated using observed annual growth for expired TSAs (11%) % after expiration. 4 % increase Year 0 to 2017 based on various start years for individual TSAs. 5 Projected taxes based on Project Value and assume an average overall future mill rate of $36.70 per $1000. Assuming all active projects are fully built out as planned), standard economic multipliers can be applied to estimate a number of additional economic impacts. These impacts are summarized on the following page. Estimated Economic Impacts of TSA Agreements (at full build out) Job Creation & Preservation industrial space (about 875 SF per job) Over 10,000 person years in part-time construction jobs New Residents & More Visitors 4,234 new residents (1.5 persons in each of 2,823 new units) 676 new hotel rooms (plus 294 renovated rooms in the Biltmore) $22.0M in annual spending on dining, goods and services and entertainment New Local Revenues $22.8M in building permit fees (including TSA projects underway) $75,000 annually in local Meals & Beverage taxes from restaurants $325,000 annually in local hotel taxes once new hotels are open $1.3M in annual motor vehicle excise taxes (based on 2016 rates) Tangible tax revenues from equipment/assets in commercial spaces 3
5 December, 2017 First Source & Local Hiring Strong local hiring results. For example, from FY2013 through and Q1 2018, 759 Providence residents have found permanent employment as a result of First Source inclusion in TSAs. Hiring has been in the following industries: Hospitality/Hotel Industry = 245 Providence residents; Healthcare Industry = 423 Providence residents; and Commercial/Retail Industry = 91 Providence residents. Apprenticeship & MBE/WBE Participation Averaged 13,500 hours worked on by Apprentices per project; Averaged 72,000 hours worked on by Journeymen per project. Over $100M in construction value directed to certified MBEs. Over $100M in construction value directed to certified WBEs. Affordable Housing This document summarizes overall statistics for these agreements and estimates their broader economic impact. The analysis was based on the following assumptions: Economic impacts are estimated based on generally accepted industry factors: Commercial Real Estate Development Association factors for employment per SF US Bureau of Economic Analysis for jobs per $1M of construction value US Bureau of Labor Statistics factor for local spending per average household Other averages from: US Census, RI Department of Revenue, and Providence Tax Assessor Presidents Report- Estimate of Job Creation from the American Recovery and Reinvestment Act of 2009 Construction values and tax receipts are based on actual year of expenditure (i.e. are not inflated or normalized to 2017). Future values are in current (year 2017) dollars. Observed averages for the 23 expired TSA s are used to estimate the potential overall future value of the 46 active TSAs. Summary statistics are based on a wide range of project types (e.g. new development on vacant land vs. renovation of existing structures; small neighborhood retail vs large commercial developments; TSA terms varying from 5 to 22 years; etc.). Results are intended to demonstrate the broad trends and impacts of past and current TSA projects, and should not be considered demonstrative of any one project. 4
6 December, 2017 Appendix A: Development Details for the 69 TSA Projects 5
7
8
9 December, 2017 Appendix B: Summary of Tax Assessor Data for the 69 TSA Projects 8
10
11
The Economic Capture of the Downtown Phoenix Redevelopment Area. Prepared for:
The Economic Capture of the Downtown Phoenix Redevelopment Area Prepared for: June 2018 Table of Contents Section 1: Executive Summary... 2 Section 2: Introduction and Purpose... 4 2.1 Analytical Qualifiers...4
More informationRI V ERF RON T RECAPTURED HOW PUBLIC VISION & INVESTMENT CATALYZED LONG-TERM VALUE IN THE CAPITOL RIVERFRONT
RI V ERF RON T RECAPTURED HOW PUBLIC VISION & INVESTMENT CATALYZED LONG-TERM VALUE IN THE CAPITOL RIVERFRONT Research by RCLCO Report Commissioned by the Capitol Riverfront Business Improvement District
More informationSKECHERS HERMOSA BEACH DESIGN CENTER & EXECUTIVE OFFICES
SKECHERS HERMOSA BEACH DESIGN CENTER & EXECUTIVE OFFICES NET FISCAL IMPACT & ECONOMIC BENEFIT ANALYSIS HERMOSA BEACH, CA Prepared For: SKECHERS U.S.A., INC. Prepared By: KOSMONT COMPANIES 1601 N. Sepulveda
More informationDraft-Fiscal Impact Analysis of Union Square and Boynton Yards
Draft-Fiscal Impact Analysis of Union Square and Boynton Yards Prepared for: City of Somerville, Massachusetts November 16, 2015 Prepared by: 4701 Sangamore Road Suite S240 Bethesda, Maryland 20816 800.424.4318
More informationSALES TAX ATTRIBUTABLE TO VISITORS
EXECUTIVE SUMMARY Applied Analysis was retained by the Las Vegas Convention and Visitors Authority (the LVCVA ) to review and analyze the economic impacts associated with its various operations and southern
More informationFiscal Impact Analysis
Fiscal Impact Analysis Waterfront West Newburyport, MA March 22, 2017 Prepared By Fougere Planning & Development, Inc. Prepared For Newburyport Manager, LLC FOUGERE PLANNING & DEVELOPMENT, Inc. Mark J.
More information1. Preface 2. Qualifications 3. Ballpark Benefits 4. Ancillary Development Benefits 5. Summary
DAIQ ARCHITECTS Table of Contents Economic & Fiscal Benefits Analysis of a New Downtown Pawtucket Ballpark 1. Preface 2. Qualifications 3. Ballpark Benefits 4. Ancillary Development Benefits 5. Summary
More informationNEVADA TAX REVENUE COMPARED TO THE UNITED STATES
Page 1 EXECUTIVE SUMMARY Applied Analysis was retained by the Las Vegas Convention and Visitors Authority (the LVCVA ) to review and analyze the economic impacts associated with its various operations
More informationDr. Laurie Heinz, Superintendent Park Ridge Niles School District 64. Scott Goldstein, AICP & LEED AP, Principal Pete Iosue, AICP, Senior Planner
TO: FROM: Dr. Laurie Heinz, Superintendent Park Ridge Niles School District 64 Scott Goldstein, AICP & LEED AP, Principal Pete Iosue, AICP, Senior Planner DATE: September 5, 2017 RE: 1440 W. Higgins Road
More informationECONSULT CORPORATION Member of the Econsult/Fairmount Group
CORPORATION Suite 300 1435 Walnut Street Philadelphia, PA 19102 Voice (215) 382-1894 Fax: (215) 382-1895 Web: www.econsult.com To: National Trust for Historic Preservation, Chicago Office This memo serves
More informationECONOMIC AND FISCAL IMPACTS OF TRANSIT ORIENTED DEVELOPMENT AT GOLD LINE FOOTHILL EXTENSION PASADENA STATIONS
FINAL REPORT ECONOMIC AND FISCAL IMPACTS OF TRANSIT ORIENTED DEVELOPMENT AT GOLD LINE FOOTHILL EXTENSION PASADENA STATIONS Submitted to: Foothill Gold Line Construction Authority 406 East Huntington Drive,
More informationECONOMIC AND REVENUE IMPACTS
ECONOMIC AND REVENUE IMPACTS OF CITY PARK ON THE RIO NUEVO DISTRICT AND THE CITY OF TUCSON OCTOBER 2016 11209 N. Tatum Boulevard, Suite 225 * Phoenix, AZ 85028 * 602-765-2400 tel * 602-765-2407 fax TABLE
More informationCentral SoMa Area Plan:
Central SoMa Area Plan: Economic Impact Report CITY & COUNTY OF SAN FRANCISCO Office of the Controller Office of Economic Analysis Items #180184 & #180185 07.24.2018 2 Introduction The proposed legislation
More informationFISCAL IMPACT ANALYSIS FOR THE REDEVELOPMENT PLAN FOR THE CHENEY/HAGERTY/KUSHNER TRACT TOWNSHIP OF CRANBURY MIDDLESEX COUNTY, NEW JERSEY.
FISCAL IMPACT ANALYSIS FOR THE REDEVELOPMENT PLAN FOR THE CHENEY/HAGERTY/KUSHNER TRACT TOWNSHIP OF CRANBURY MIDDLESEX COUNTY, NEW JERSEY Prepared by: Phillips Preiss Grygiel LLC Planning and Real Estate
More informationMidtown Row. Fiscal Impact Study. BSV Colonial Owner, LLC. Ted Figura Consulting. City of Williamsburg, Virginia. Prepared by. For. Bethesda, Maryland
Midtown Row Fiscal Impact Study City of Williamsburg, Virginia Prepared by Ted Figura Consulting For BSV Colonial Owner, LLC Bethesda, Maryland August 1 2017 Table of Contents Executive Summary. 4 Background......
More informationOFFERING MEMORANDUM MEDICAL OFFICE BUILDING RALEIGH, NC
OFFERING MEMORANDUM MEDICAL OFFICE BUILDING RALEIGH, NC www.atlasstark.com PO Box 6309 Raleigh, NC 27628 919.289.1338 TABLE OF CONTENTS Executive Summary.... 1 Property Details... 6 Cash Flows........
More informationVolume I Issue VI. The Tourism Industry s Contribution to the Clark County Master Transportation Plan
Volume I Issue VI Page 1 A pplied Analysis was retained by the Las Vegas Convention and Visitors Authority (the LVCVA ) to review and analyze the economic impacts associated with its various operations
More informationNONDEPARTMENTAL SPECIAL REVENUE FUNDS
This section contains various Revenue Funds. The funds are listed mainly for accounting purposes to keep track of revenues and support to service departments. The dollar amounts listed in these funds support
More informationCURRENT ECONOMIC REVIEW April 21, Brian Bonnenfant
CURRENT ECONOMIC REVIEW April 21, 2015 Brian Bonnenfant Current Employment Reno-Sparks MSA 230,000 225,000 Dec-06: 228,100 220,000 215,000 210,000 205,000-23,300 Dec-14 = 204,800 200,000 195,000 190,000
More informationGeorgia World Congress Center and Georgia Dome Economic Impact Analysis FY 2012
Georgia World Congress Center and Georgia Dome Economic Impact Analysis FY 2012 Prepared by: Ken Heaghney State Fiscal Economist Fiscal Research Center Andrew Young School of Policy Studies Georgia State
More informationTown of Smithfield Rhode Island 2019 Operating Budget
Rhode Island 2019 Operating Budget FINANCIAL TOWN MEETING APPROVED: June 14, 2018 Smithfield Town Hall 64 Farnum Pike Smithfield, RI 02917 Phone: (401) 233-1000 Fax: (401) 233-1080 Hours: 8:30 am 4:30
More informationWestwood Country Club Redevelopment
Westwood Country Club Redevelopment Economic and Fiscal Impact March, 2014 Prepared for: Mensch Capital Partners Prepared By: Kent Gardner, Ph.D. Project Director 1 South Washington Street Suite 400 Rochester,
More informationEconomic Impact of the River Edge Redevelopment Zone State Historic Tax Credit in Rockford, Illinois. April 2015
Economic Impact of the River Edge Redevelopment Zone State Historic Tax Credit in Rockford, Illinois April 2015 Rockford is seeing a new wave of development within the River Edge Redevelopment Zone, largely
More informationFiscal Impact Analysis
May 12, 2017 Fiscal Impact Analysis Westport Cupertino Development Prepared for: KT Urban, LLC Prepared by: Applied Development Economics, Inc. 1756 Lacassie Avenue, #100, Walnut Creek, CA 94596 925.934.8712
More informationGreenland LA Metropolis Hotel Development LLC., a Delaware corporation (Developer).
SUMMARY REPORT PURSUANT TO CALIFORNIA GOVERNMENT CODE SECTION 53083 ON A HOTEL DEVELOPMENT INCENTIVE AGREEMENT BY AND BETWEEN THE CITY OF LOS ANGELES AND GREENLAND LA METROPOLIS HOTEL DEVELOPMENT LLC.
More informationBLU Small Business Loan Fund Appropriation Study. In Compliance with Utah Code Annotated Sections (Cities) & (Counties)
BLU Small Business Loan Fund Appropriation Study In Compliance with Utah Code Annotated Sections 10-8-2 (Cities) & 17-50-302 (Counties) October 2,2017 Business Loans of Utah Appropriation Study The City
More informationEstablishing a Progressive Payroll Expense Tax: Economic Impact Report
Establishing a Progressive Payroll Expense Tax: Economic Impact Report Item #100756 Office of Economic Analysis June 28, 2010 Outline Overview Background Fiscal Impact Impact on Specific Businesses Overall
More informationTHE ECONOMIC IMPACT OF FEARRINGTON PLACE
THE ECONOMIC IMPACT OF FEARRINGTON PLACE PREPARED FOR JESSE FEARRINGTON PREPARED BY COLUMBIA, SOUTH CAROLINA RESEARCH TRIANGLE PARK, NORTH CAROLINA APRIL 17, 2006 1 INTRODUCTION This report evaluates the
More informationTULSA DEVELOPMENT AUTHORITY BOARD MEETING. MEETING OF: April 6, 2017
TULSA DEVELOPMENT AUTHORITY BOARD MEETING MEETING OF: April 6, 2017 TO: FROM: SUBJECT: CHAIRMAN AND BOARD MEMBERS OFFICE OF TULSA DEVELOPMENT AUTHORITY 410 S BOSTON AVE (FIRST PLACE GARAGE) FIRST PLACE
More informationCity Council Working Session on FY 2018 General Fund Revenues. Presentation to Petersburg City Council The Robert Bobb Group, LLC March 27, 2017
City Council Working Session on FY 2018 General Fund Revenues Presentation to Petersburg City Council The Robert Bobb Group, LLC March 27, 2017 Work Session Focus: General Fund Revenues We will detail
More informationVacant Properties Initiative Private Entity Application
City of Cleveland Department of Economic Development 601 Lakeside Ave, Room 210 Cleveland, Ohio 44114 Phone: 216.664.2406 Hours of Operation: 8 am to 5 pm Fax: 216.664.3681 Vacant Properties Initiative
More informationScottsdale Tourism Study - Visitor Statistics
Scottsdale Tourism Study - Visitor Statistics January 2018 Tourism and Events Department Scottsdale Visitor Statistics January 2018 Scottsdale City Council W.J. Jim Lane Mayor Linda Milhaven Kathy Littlefield
More informationScottsdale Tourism Study - Visitor Statistics
Scottsdale Tourism Study - Visitor Statistics September 2018 Tourism and Events Department Scottsdale Visitor Statistics September 2018 Scottsdale City Council W.J. Jim Lane Mayor Linda Milhaven Kathy
More informationRevenue Options for Baltimore City s Affordable Housing Trust Fund
Revenue Options for Baltimore City s Affordable Housing Trust Fund A P R I L 2 0 1 8 Baltimore City voters approved a ballot question in 2016 to create an affordable housing trust fund. The purpose of
More informationGovernor s Tax Bill. March 4, 2005
Governor s Tax Bill March 4, 2005 Department of Revenue Analysis of S.F. 753 (Ortman)/ H.F. 660 (Krinkie) Analysis Revised for Updated Estimates and February 2005 Forecast Separate Official Fiscal Note
More informationCORRECTION #1: CORRECTIONS TO WRONG INFORMATION PUT OUT BY:
INFORMATION HEREIN SUPPLIED BY BALDWIN COUNTY BOARD OF EDUCATION CORRECTIONS TO WRONG INFORMATION PUT OUT BY: CORRECTION #1: Based upon Baldwin County Public Schools current rate of growth, every cent
More informationANCHORAGE, ALASKA AO No
Submitted by: Chair of the Assembly at the Request of the Mayor Prepared by: Dept. of Law For reading: January, 0 ANCHORAGE, ALASKA AO No. 0-0 0 0 AN ORDINANCE OF THE ANCHORAGE MUNICIPAL ASSEMBLY TO INCENTIVIZE
More informationPhone (931) Dear Citizens, My name. Fall Creek revenue and. can provide. Van. Respectfully, County
Greg B. Wilson Van Buren County Mayor P. O. Box 217 Spencer, TN 38585 Phone (931) 946 2314 e mail mayorgwilson@outlook.com February 6, 2017 Dear Citizens, My name is Greg Wilson and I am the Mayor of Van
More informationFiscal Analysis November 14, Fiscal Analysis Fiscal Conditions Project Background
3.11 Fiscal Analysis Fiscal Analysis 3.11.1 Fiscal Conditions 3.11.1.1 Project Background The proposed action is a 149 unit residential development, including a private road and appurtenances, on a 29.3
More informationThe Projected Economic and Fiscal Impacts of Improvements to Georgia s Historic Rehabilitation Investment Incentive
The Projected Economic and Fiscal Impacts of Improvements to Georgia s Historic Rehabilitation Investment Incentive February 2013 Copyright 2013 Georgia Tech Research Institute Atlanta, GA 30332 EXECUTIVE
More informationMarket Assessment and Economic and Fiscal Impact Analysis of the Cumberland Community Improvement CUMBERLAND CID DECEMBER 2009
Market Assessment and Economic and Fiscal Impact Analysis of the Cumberland Community Improvement District CUMBERLAND CID DECEMBER 2009 BACKGROUND & OBJECTIVES Background RCLCO was retained to assess the
More informationThompson & Trautz LLC. Ever Vail Fiscal Impact Report
Thompson & Trautz LLC. Ever Vail Fiscal Impact Report Summary Thompson & Trautz LLC has been retained as an independent consultancy to provide analysis as to the potential financial impacts, revenue and
More informationBUILD NYC RESOURCE CORPORATION PROJECT COST/BENEFIT ANALYSIS June 7, 2018
BUILD NYC RESOURCE CORPORATION PROJECT COST/BENEFIT ANALYSIS June 7, 2018 APPLICANT Blue School and Blue School Real Estate, LLC 241 Water Street New York, NY 10038 PROJECT LOCATION 156 William Street
More informationCity of Providence STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS
City of Providence STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS CHAPTER No. AN ORDINANCE ESTABLISHING THE 2014 PROPERTY TAX PREDICTABILITY ACT Be it ordained by the City of Providence: SECTION 1. Chapter
More informationWhat are New Markets Tax Credits? How would a sample transaction involving. What are Low Income Housing Tax Credits? How would a sample transaction
Panel Outline What are New Markets Tax Credits? How would a sample transaction involving this investment look? What is their CRA value? What are Low Income Housing Tax Credits? How would a sample transaction
More informationECONOMIC IMPACT OF LEGALIZING RETAIL ALCOHOL SALES IN JOHNSON COUNTY
ECONOMIC IMPACT OF LEGALIZING RETAIL ALCOHOL SALES IN JOHNSON COUNTY Produced for: Keep Our Dollars in Johnson County Willard J. Walker Hall 538 Sam M. Walton College of Business 1 University of Arkansas
More informationGeorgia World Congress Center and Georgia Dome Economic Impact Analysis FY 2017
Georgia World Congress Center and Georgia Dome Economic Impact Analysis FY 2017 Prepared by: Ken Heaghney State Fiscal Economist Fiscal Research Center Andrew Young School of Policy Studies Georgia State
More informationFebruary 11, 2015 Revenue Overview
February 11, 2015 Revenue Overview General Fund Revenue By Source FY 2015: $1.15 billion License, Permits & Fees, 1% Charges for Services, 5% State, 6% Local Taxes, 82% Misc., 5% Federal, 1% 2 Legal Limits
More informationGeorgia World Congress Center and Georgia Dome Economic Impact Analysis FY 2016
Georgia World Congress Center and Georgia Dome Economic Impact Analysis FY 2016 Prepared by: Ken Heaghney State Fiscal Economist Fiscal Research Center Andrew Young School of Policy Studies Georgia State
More informationIowa River Landing Reinvestment District Coralville, Iowa Economic Impact Analysis
Iowa River Landing Reinvestment District Coralville, Iowa Economic Impact Analysis SUBMITTED TO City of Coralville SUBMITTED BY C.H. Johnson Consulting, Incorporated FINAL February 25, 2016 TABLE OF CONTENTS
More informationLancaster City Revitalization & Improvement Zone (CRIZ) 2016 Reporting & Information Packet For Calendar Year Reporting January 1 - December 31, 2016
Lancaster City Revitalization & Improvement Zone (CRIZ) 06 Reporting & Information Packet For Calendar Year Reporting January - December, 06 Due on or before June 5, 07 What is the City Revitalization
More informationGPLET 101 COMMUNITY AND ECONOMIC DEVELOPMENT CITY OF PHOENIX AUGUST 3, 2017
1 GPLET 101 COMMUNITY AND ECONOMIC DEVELOPMENT CITY OF PHOENIX AUGUST 3, 2017 GPLET WHAT IS IT? 2 Government Property Lease Excise Tax ( Gee-Plet ) Authorized by State as economic development tool in 1996
More informationImpact Analysis of the Greensboro Coliseum Complex for the 2012 Operating Year
Regional Dynamics & Economic Modeling Laboratory Impact Analysis of the Greensboro Coliseum Complex for the 2012 Operating Year On Greensboro & Guilford County, North Carolina and the Surrounding Area
More informationAmerican Realty Capital Hospitality Trust, Inc. 2Q 2016 REPORT SHAREHOLDER COMMUNICATION - NOT FOR USE AS SALES MATERIAL. Homewood Suites Chicago, IL
2Q 2016 Homewood Suites Chicago, IL Georgia Tech Hotel & Conference Center Atlanta, GA Courtyard Athens Athens, GA Courtyard by Marriott Providence, RI Courtyard Gainesville Gainesville, GA American Realty
More informationWhat Does Amazon s HQ2 Mean for the Washington Region? November 13, 2018
About the Stephen S. Fuller Institute The Stephen S. Fuller Institute is the premier source for information and analysis of Greater Washington s regional economy. Through consistent monitoring of regional
More informationFY 08/09 ADOPTED GENERAL FUND REVENUES $224,391,325
GENERAL FUND REVENUES FY 08/09 ADOPTED GENERAL FUND REVENUES $224,391,325 State Revenue 10% Transfers 1% Federal Revenue 2% Fund Balance 0.2% Other Local Revenue 3% Other Local Taxes 22% Gen. Property
More informationThe Importance of Economic Development in Boston Heavy reliance on the property tax makes development a high priority
D September 10, 2013 No.13 4 Highlights From FY08-13, new growth was 50% or more of the total tax levy increase in three of those six years and 49% in a fourth year Business value in the Back Bay, Downtown
More informationRhode Island Commerce Corporation. Tax Increment Financing Economic Impact Analysis
Rhode Island Commerce Corporation Tax Increment Financing Economic Impact Analysis Southern Rhode Island Hospitality LLC Application Introduction The Rhode Island Commerce Corporation (the Corporation
More informationEconomic Impact of the Hotel Roanoke and Conference Center. Prepared by the
Economic Impact of the Hotel Roanoke and Conference Center Prepared by the April 2015 The economic impact analysis provided in this report was generated using an economic impact model (IMPLAN) calibrated
More informationCITY OF OAKLAND/CITY OF OAKLAND REDEVELOPMENT AGENCY
CITY OF OAKLAND/CITY OF OAKLAND REDEVELOPMENT AGENCY HOUSING PREDEVELOPMENT LOAN AND GRANT PROGRAM/ CENTRAL DISTRICT AFFORDABLE HOUSING PREDEVELOPMENT LOAN PROGRAM APPLICATION City-wide Central District
More informationTHE ECONOMIC IMPACT OF NATIONAL HERITAGE AREAS: A CASE STUDY APPROACH
THE ECONOMIC IMPACT OF NATIONAL HERITAGE AREAS: A CASE STUDY APPROACH WHEELING NATIONAL HERITAGE AREA JUNE 2017 TABLE OF CONTENTS Introduction...2 Project Overview.4 Wheeling NHA Economic Impact...6 Conclusion.14
More informationTompkins County Industrial Development Agency / Tompkins County Development Corporation Application for Incentives
Tompkins County Industrial Development Agency / Tompkins County Development Corporation Application for Incentives Date: I. APPLICANT INFORMATION (company receiving benefit) Name of Company/Applicant:
More informationECONOMIC ISSUES AND OPPORTUNITIES PAPER
ECONOMIC ISSUES AND OPPORTUNITIES PAPER Introduction The purpose of this paper is to identify important economic issues that need to be addressed in order to create policy options for the City of Simi
More informationAppendix A REAL ESTATE MARKET DEMAND ESTIMATE METHODOLOGY
Appendix A REAL ESTATE MARKET DEMAND ESTIMATE METHODOLOGY This section provides information on the methodology that Bay Area Economics (BAE) used to quantify the potential market support for new residential,
More informationVIRGINIA COMMUNITY CAPITAL. Let s do more, together.
VIRGINIA COMMUNITY CAPITAL 2016 Impact Report Let s do more, together. Impact What we do matters. As a Community Development Financial Institution (CDFI), Virginia Community Capital impacts people by improving
More informationTHE ECONOMIC IMPACT OF THE ROUND ROCK CHAMBER
THE ECONOMIC IMPACT OF THE ROUND ROCK CHAMBER 2012 2017 July 12, 2017 Prepared for: Round Rock Chamber 212 East Main St. Round Rock, TX 78664 Prepared by: Impact DataSource Austin, Texas www.impactdatasource.com
More informationVolume III Issue III. The Fiscal Impact of Southern Nevada Tourism: The Industry s Contribution to Major Public Revenues 2010 Update
Volume III Issue III Page 1 Applied Analysis was retained by the Las Vegas Convention and Visitors Authority (the LVCVA ) to review and analyze the economic impacts associated with its various operations
More informationGeorgia World Congress Center Authority Economic Impact Analysis FY 2018
Georgia World Congress Center Authority Economic Impact Analysis FY 2018 Prepared by: Ken Heaghney State Fiscal Economist Peter Bluestone Sr. Research Associate Fiscal Research Center Andrew Young School
More informationAPPENDIX K ORANGE COUNTY IDA KPMG STUDY ORANGE COUNTY OFFICE OF REAL PROPERTY, PROPERTY VALUE IMPACT ANALYSIS
APPENDIX K ORANGE COUNTY IDA KPMG STUDY ORANGE COUNTY OFFICE OF REAL PROPERTY, PROPERTY VALUE IMPACT ANALYSIS LEGOLAND FLORIDA RESORT ECONOMIC IMPACT ANALYSIS Prepared for the Orange County IDA February,
More informationUnderstanding Housing Development Costs: Components and Examples of Affordable Housing Development
Understanding Housing Development : Components and Examples of Affordable Housing Development A presentation by RI Housing Erin Reedy, Director of Development Four Main Components Determine a Developer
More informationSTREAMLINED SALES TAX PROJECT TAXES AFFECTED BY SSTP ACT AND AGREEMENT (7/3/02)
The Project approved moving this paper to the Implementing States on June 14, 2002. Draft Document Not For Publication But For Discussion Purposes Only Nothing contained herein represents a final position
More informationProposition D Fire, Police and Emergency Services Bond Measure
Proposition D Fire, Police and Emergency Services Bond Measure Overview On March 2, 2004, La Mesa voters approved Proposition D, the Fire, Police and Emergency Services Bond Measure, with a 76.7 percent
More informationRiver Edge Fiscal Impact Analysis
Final Report Prepared for: Carbondale Investments Prepared by: Economic & Planning Systems, Inc. EPS #20813 App. N-2 Table of Contents 1. INTRODUCTION AND SUMMARY OF FINDINGS... 1 Summary of Findings...
More informationThe Economic Impact of the. and the Georgia Dome
The Economic Impact of the Georgia World Congress Center and the Georgia Dome On Georgia s Economy in FY 2008 Jeffrey M. Humphreys, Director Selig Center for Economic Growth August 2008 Executive Summary
More informationALLEGANY COUNTY INDUSTRIAL DEVELOPMENT AGENCY UNIFORM TAX EXEMPTION POLICY AND GUIDELINES
ALLEGANY COUNTY INDUSTRIAL DEVELOPMENT AGENCY UNIFORM TAX EXEMPTION POLICY AND GUIDELINES The purpose of the Allegany County Industrial Development Agency (The Agency ) is to promote economic development,
More information44 states offer film tax incentives to lure big productions with big out-of-state money. Nevada is one of six that does not.
The Motion Picture Jobs Creation Act (AB506) Executive Summary 44 states offer film tax incentives to lure big productions with big out-of-state money. Nevada is one of six that does not. Incentives create
More informationTax Allocation District Completion Assessment December 2017
Tax Allocation District Completion Assessment December 2017 Executive Summary TAD Completion Assessment Appendix HR&A Advisors, Inc. Atlanta Tax Allocation Districts: Completion Assessment 1 Since 1992,
More informationMemorandum. Background memorandum for Independence/Constitution Project fiscal impact analysis
Memorandum To: From: Re: Thomas H. Rogers, City of Menlo Park Ron Golem, Steve Murphy, BAE Background memorandum for Independence/Constitution Project fiscal impact analysis Date: June 16, 2008 Purpose
More informationDEPARTMENT OF DEVELOPMENT SERVICES BOARD OF ADJUSTMENT BRIEFING July 19, 2017 Agenda Item C.3
DEPARTMENT OF DEVELOPMENT SERVICES BOARD OF ADJUSTMENT BRIEFING July 19, 2017 Agenda Item C.3 REQUEST: A request for two variances to Cocoa Beach Land Development Code Section 5-05.D to allow two wall
More informationImpacts of the Commercial Gaming Industry in Indiana. November 2014
Impacts of the Commercial Gaming Industry in Indiana November 2014 Overview To quantify the statewide impacts of the commercial gaming industry for the American Gaming Association, Oxford Economics analyzed
More informationImpacts of the Commercial Gaming Industry in Iowa. November 2014
Impacts of the Commercial Gaming Industry in Iowa November 2014 Overview To quantify the statewide impacts of the commercial gaming industry for the American Gaming Association, Oxford Economics analyzed
More informationBackground. MUNICIPALITIES AND DOWNTOWN REDEVELOPMENT IN SOUTH CAROLINA: Expanding The Tool Kit
MUNICIPALITIES AND DOWNTOWN REDEVELOPMENT IN SOUTH CAROLINA: Expanding The Tool Kit Background Over past 30 years, shift focus from remediation to development Need for commercially vibrant, historically
More informationAspen Place at the Sawmill Fiscal Impact Analysis
Aspen Place at the Sawmill Fiscal Impact Analysis PREPARED FOR: City of Flagstaff PREPARED BY: ESI CORPORATION 300 West Clarendon Avenue Suite 470 Phoenix, Arizona 85013 (602) 265-6120 www.esicorp.net
More informationRESTRICTED AND NONRESTRICTED GAMING IN NEVADA MARCH 20, 2013
RESTRICTED AND NONRESTRICTED GAMING IN NEVADA MARCH 20, 2013 Creation of Distinction Between Restricted and Nonrestricted Gaming Licenses C 2 1967: Senate Bill 471 (Taxation) Established flat fee per slot
More informationLineberger Connector Project Economic Impact Analysis Summary
Economic Impact Analysis Summary Prepared for the Property Owners by MXD Development Strategists July 19 th, 2018 Economic Impact Analysis - Executive Summary In support of funding applications for the
More informationSwampscott Board of Selectman
Swampscott Board of Selectman 1 Agenda 2 FY2018 REVALUATION RESULTS COMP. 2017 v. 2018 Property Type Description FY 2017 Parcel Count FY 2017 Assessed Value FY 2018 Parcel Count FY 2018 Assessed Value
More informationALCOHOLIC BEVERAGE LICENSE APPLICATION APPLICATION MUST BE LEGIBLE
City of Tuscaloosa 2201 University Boulevard Tuscaloosa, AL 35401 (205) 248-5200 ALCOHOLIC BEVERAGE LICENSE APPLICATION APPLICATION MUST BE LEGIBLE OFFICE USE ONLY Date Received City Limits PJ Sent to
More informationPERSONAL EXPENDITURES OF AMERICANS
SWT-2017-15 OCTOBER 2017 PERSONAL EXPENDITURES OF AMERICANS ON TRANSPORTATION: 2016 VERSUS 1989 MICHAEL SIVAK BRANDON SCHOETTLE SUSTAINABLE WORLDWIDE TRANSPORTATION PERSONAL EXPENDITURES OF AMERICANS ON
More informationIII.I: Socioeconomic Conditions
III.I: Socioeconomic Conditions I. Socio-Economic Factors This socio-economic section of this DEIS includes several constituent analyses: 1. A review of demographic information relating to population and
More informationFiscal Impacts Appendix
Fiscal Impacts Appendix This chapter focuses on the fiscal impacts to local governments and the State of Alaska resulting from Operation F-35 Beddown at Eielson, which we will hereafter refer to as the
More informationTECHNICAL MEMORANDUM
TECHNICAL MEMORANDUM ARCHITECTS STRUCTURAL ENGINEERS PLANNERS PARKING CONSULTANTS RESTORATION ENGINEERS GREEN PARKING CONSULTING DATE: Wednesday, April 25, 2018 TO: FROM: Lucy Wildrick Street Works Development
More informationThe Economic Impact of the University of Maryland, Baltimore s Health Sciences Facility III on The State of Maryland. Prepared By
The Economic of the University of Maryland, Baltimore s on The State of Maryland Prepared By June 2011 1.0 Introduction and Summary The University of Maryland, Baltimore retained Richard Clinch, the Director
More informationEconomic Impact of The Bradley Center. Prepared by: Bret J. Mayborne Economic Research Director Metropolitan Milwaukee Association of Commerce
Economic Impact of The Bradley Center Prepared by: Bret J. Mayborne Economic Research Director Metropolitan Milwaukee Association of Commerce March 2012 E c o n o m i c I m p a c t s o f t h e B r a d
More informationSTATE OF SOUTH CAROLINA DEPARTMENT OF REVENUE SC SCH.TC 4 NEW JOBS CREDIT (ATTACH TO RETURN)
LINE 1: LINE : LINE : LINE : 130 COUNTY MONTH 1 3 4 7 8 9 10 11 1 NUMBER OF FULL TIME EMPLOYEES SUBJECT TO WITHHOLDING DURING EACH MONTH YR YR YR YR YR 0 0 PRIOR 1 TOTAL EMPLOYEES DIVIDED BY: NUMBER OF
More informationSan Francisco Multi-Purpose Venue Project. Fiscal Impact Analysis: Revenues. Draft Report. Prepared for: The City and County of San Francisco
Draft Report San Francisco Multi-Purpose Venue Project Fiscal Impact Analysis: Revenues Prepared for: The City and County of San Francisco Prepared by: Economic & Planning Systems, Inc. April 27, 2015
More informationCenter City Revenue Finance Corporation Board Meeting
Center City Revenue Finance Corporation Board Meeting To: Center City Revenue Finance Corporation (CCRFC) From: DMC Staff Date: April 11, 2017 RE: PILOT Application 158 Vance Avenue The enclosed PILOT
More informationFISCAL IMPACT ANALYSES OF A MIXED-USE DEVELOPMENT IN AVONDALE ESTATES
FISCAL IMPACT ANALYSES OF A MIXED-USE DEVELOPMENT IN AVONDALE ESTATES FINAL REPORT Prepared for: Trammell Crow Residential 3715 Northside Pkwy Atlanta, GA 30327 July 16, 2018 Table of Contents Key Results...
More informationCITY AND COUNTY OF SAN FRANCISCO STATISTICAL SECTION
Statistical Section STATISTICAL SECTION This section of the City s comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial
More informationGateway Center, Collinsville, Illinois Economic and Fiscal Impact Analysis
Economic and Fiscal Impact Analysis SUBMITTED TO Gateway Center SUBMITTED BY C.H. Johnson Consulting, Inc. February 2017 TABLE OF CONTENTS SECTION I TRANSMITTAL LETTER SECTION II INTRODUCTION AND EXECUTIVE
More informationCity of Providence STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS
City of Providence STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS CHAPTER No. AN ORDINANCE AMENDING CHAPTER 21, "REVENUE AND FINANCE", OF THE PROVIDENCE CODE OF ORDINANCES, TO ADD ARTICLE XIX, "THE PROVIDENCE
More information