Proposed specific development projects can dramatically affect the fiscal well being of a community. TischlerBise has conducted a number of these specific project evaluations. It is critical to analyze more than one scenario in order to better understand the demands for services and resulting fiscal consequences of different rates of absorption and/or mix of development. Listed below are a few of the specific development studies that we've conducted for a variety of public and private sector clients throughout the United States:
Rouse Company (Howard County, Maryland)
Development Proposal Analysis - Rezoning approved for 1,400 residential units and 700,000 square feet of nonresidential space
The firm recently completed a fiscal impact analysis of a proposed mixed use rezoning in Howard County, Maryland on behalf of the Rouse Company. Over 1,400 residential units and 700,000 square feet of nonresidential space were proposed.
Mashpee Township, Massachusetts
A mixed-use development approved in this growing Cape Cod Township
In Mashpee Township, Massachusetts, TischlerBise conducted a fiscal impact analysis of the proposed Mashpee Commons development, a mixed use project located on Cape Cod. A series of scenarios were evaluated in which the number and type of housing units and the amount of nonresidential square footage varied. The development program was approved at the Town Meeting.
Should Town Approve a Tax Sharing Agreement with Developer?
TischlerBise conducted a three part evaluation for the Town of Sahuarita. The analysis was triggered by the proposed Rancho Sahuarita Town Center that is seeking a certain level of financing through the future sales tax collections. In response, TischlerBise conducted an assessment of the opportunities for additional retail, transient accommodations and other land uses. The fiscal evaluation conducted by TischlerBise indicated that although the project generates net surpluses, the Town should not enter into a tax-sharing agreement. The Town derives little revenue from residential development because there is no property tax. Since the Town has a significant amount of residential development when compared to nonresidential development, it is imperative that any sales tax revenue generated by new development be utilized to subsidize future residential development (including that of first phase of Rancho Sahuarita) since the Town, at present, does not have a significant sales tax base. The third phase of this assignment involves implementing a fiscal impact model for the Town's use in reviewing future development proposals.
Old Bridge, New Jersey
Information from the firm's case study-marginal fiscal analysis was used by the Township in subsequent negotiations with the developer
The Township of Old Bridge, New Jersey retained TischlerBise to evaluate the fiscal impacts of a proposed planned unit development (PUD) that would increase population by nearly 50%. The developer conducted its own analysis, using per capita and other average cost concepts. The Township retained us to look at the marginal impacts of the proposed PUD. Three scenarios were evaluated in addition to the developer's three alternatives. Information from these fiscal analyses was used by the Township in subsequent negotiations with the developer.