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Information in red is from Greenvest's appendix tables A-5 through A-8. It is provided for ready reference. It was not included in Greenvest's summary tables 1 through 3.

Fiscal Impact Summary
Proposed Hunt Field Development, City of Charles Town, West Virginia

 

Table 1, Fiscal Impact Summary

Table 2, Residential Land Uses

Table 3, Non-Residential Uses

Description

Total Residential

Total Non-Residential

Total

Total Single Family

Total Town House

Total Apartments

Total Residential

Retail

Office

Total

City Impact

Estimated City Revenues Generated

$2,139,861

$311,842

$2,451,703

$1,423,964

$474,063

$241,834

$2,139,861

$128,313

$183,529

$311,842

Estimated City Expenditures Impact

$2,162,645

$184,483

$2,347,128

$1,399,251

$505,706

$257,688

$2,162,645

$73,793

$110,690

$184,483

Estimated City Revenue Surplus (Deficit)

($22,784)

$127,359

$104,575

$24,713

($31,643)

($15,854)

($22,784)

$54,520

$72,839

$127,359

Board of Education Impact [Annual Operating Cost only, excludes construction costs]

Estimated B.O.E. Revenues Generated [no sources given: this is 3 times the property tax revenue]

12,833,109

$280,080

13,113,189

$9,852,163

$2,304,080

$676,866

12,833,109

$126,036

$154,044

$280,080

Estimated B.O.E. Expenditures Impact

13,519,673

 

13,519,673

10,379,249

$2,427,346

$713,078

13,519,673

 

 

 

Estimated B.O.E. Revenue Surplus (Deficit)

($686,564)

$280,080

($406,484)

($527,086)

($123,266)

($36,212)

($686,564)

$126,036

$154,044

$280,080

[Greenvest's estimate of property tax revenue for schools]

$3,975,322

$280,080

$4,255,402

$2,726,578

$826,523

$422,221

$3,975,322

$126,036

$154,044

$280,080

[Annual Surplus (Deficit) based on property taxes; excludes construction costs]

($9,544,351)

$280,080

($9,264,271)

($7,652,671)

($1,600,823)

($290,857)

($9,544,351)

$126,036

$154,044

$280,080

 

Net impact

($709,348)

$407,439

($301,909)
($9,159,696)

($502,373)

($154,909)

($52,066)

($709,348)

$180,556

$226,883

$407,439

Number of Residential Units

3,200

3,200

3,200

1,947

803

450

3,200

 

 

 

Net Impact per Residential Unit

($222)

$127

($94)
($2,862)

($258)

($193)

($116)

($222)

 

 

 

Number of Square Feet

 

 

 

 

 

 

 

100,000

100,000

200,000

Number of FTE Jobs Supported

 

 

 

 

 

 

 

222

333

555

Net Impact per Square Foot

 

 

 

 

 

 

 

$1.81

$2.27

$2.04

Net Impact per FTE Job

 

 

 

 

 

 

 

$813

$681

$734

 

Capital Facilities Contribution

 

 

$7,900,000

 

 

 

 

 

 

 

75-acre School Site

 

 

$3,000,000

 

 

 

 

 

 

 

Civic-Use Site

 

 

$100,000

 

 

 

 

 

 

 

Water Tariff* (Capacity Improvement Capital Cost Fee)

 

 

$2,400,000

 

 

 

 

 

 

 

Sewer Tariff (Capacity Improvement Capital Cost Fee)

 

 

$2,400,000

 

 

 

 

 

 

 

 

Total Estimated State Revenues Generated

$21,291

$1,500

$22,791

$14,603

$4,427

$2,261

$21,291

$675

$825

$1,500

From Real Estate Taxes

$16,810

$1,200

$18,010

$11,682

$3,373

$1,755

$16,810

$540

$660

$1,200

From Personal Property Taxes

$4,481

$300

$4,781

$2,921

$1,054

$506

$4,481

$135

$165

$300

 

Total Estimated County Revenues Generated

$1,183,741

$83,400

$1,267,141

$811,899

$246,116

$125,726

$1,183,741

$37,530

$45,870

$83,400

From Real Estate Taxes

$934,614

$66,720

$1,001,334

$649,519

$187,517

$97,578

$934,614

$30,024

$36,696

$66,720

From Personal Property Taxes

$249,127

$16,680

$265,807

$162,380

$58,599

$28,148

$249,127

$7,506

$9,174

$16,680

Notes:
These are the revenue and expenditure figures that would have been generated had Hunt Field been fully built, occupied and annexed in FY 2000. Revenues and expenditures based on the FY 2000 financial statements for City of Charles Town and the Board of Education.

* Does not include an additional $1,120,000 in service connection charges. These charges are treated as operating budget revenue to the PSC.

Source:
Center for Regional Analysis, The School of Public Policy, George Mason University
Urban Analytics, Inc.

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