Is the cost of the parking garages built into the fiscal analysis? Does the cost of the garages affect the fiscal benefit to the Town?
The cost of the garages was not included within the fiscal analysis because the Town has made no commitment to assist in the construction financing of the parking facilities. Garage 1 will be built with state and federal grant monies that have been already committed; the Town will not fund construction of this garage. Strategies for financing of Garage 2 are currently under negotiation. The fiscal impact analysis will help the Town to assess the future tax benefits of the project, and what role the Town may play in financing Garage 2, which is scheduled to be constructed in approximately 2016. One condition that has been discussed is that, at the time Garage 2 needs to be financed, Leyland would be required to update the fiscal impact analysis. This look-back provision would provide the parties with updated information and allow the assessment of the relative success of the project, including the tax benefits to the Town. The Town and Partnership will continue to evaluate the projected
Related Questions
- Is the cost of the parking garage built into the fiscal analysis? Does the cost of the garage center affect the fiscal benefit to the Town?
- Is the cost of the parking garages built into the fiscal analysis? Does the cost of the garages affect the fiscal benefit to the Town?
- What is a valid cost benefit analysis?
