REPORT: Greatest Value for Melone Property Would be for Multifamily Rentals, Garden Condos
The Town of Sudbury asked Larry Koff Associates, a land use planning firm, and its consultant team, to investigate the potential land value.
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Mike Hullinger
11:09 am on Friday, August 31, 2012
Although the report concludes the highest land value option of 250 garden style condo's could yield a one time revenue source of $11 - $13 million, the report does not look at the annual recurring net tax revenue impact on existing Sudbury residents. If only 40% of the units have an average of 1.5 school age children, the funding shortfall for our schools from the 250 units would be in excess of $1 million dollars annually that would have to be picked up by the existing taxpayers. Any one time revenue impact from selling the land for residential development would be abosrbed by tax revenue shortfalls from the site in less than 10 years. A budget neutral or budget surplus use would be a better value for existing Sudbury residents.
Sid Bourne
8:23 am on Saturday, September 1, 2012
Wow! It's deja vu all over again. Think Northwood, with both the Town Planner and her developer-representing husband involved, site plan approvals and the ZBA helping out. Let's be careful on this one.
Thrice Rusty
10:28 am on Saturday, September 1, 2012
Sid you forgot the part where the Chairman of the BOS sits back and lets it all happen.