Selected fiscal & econOmic impact analysis projects
Belleayre Resort Development
Catskills, New York
A private developer proposed a resort and mixed-use development on a 1,960-acre parcel of land in the Catskill Mountains, near the existing Belleayre Ski Center. Towns and villages throughout the Catskill region were concerned with the potential fiscal and economic impacts that may be associated with this proposed development. In addition, New York City was concerned about possible adverse impacts on it’s public water supply. RKG Associates, Inc. was the lead firm on a consulting team that was charged with reviewing all of the developers’ proposals, applications, assumptions and findings relative to fiscal, economic and environmental impacts. All of RKG’s analysis and findings were completed in accordance with the rigorous State Environmental Quality Review Act (SEQRA) of New York State.
Capital One Corporate Expansion
Glen Allen, Virginia
Capital One created a corporate expansion plan for a new, 2.2 million square foot corporate office as well as another 520,000 square foot corporate facility located in Northern Virginia. RKG Associates, Inc. prepared an economic impact analysis for Capital One Services, Inc., employing an econometric policy simulation model that measured the regional and State impacts of various policy actions or economic events. With RKG’s assistance, Capital One was able to secure tens of millions of dollars in state infrastructure commitments. This project has been recognized as the largest single corporate expansion project in Virginia’s history.
military base expansion impacts
Topeka, Kansas
In December 2005, the Department of the Army announced that the military population at Fort Riley would increase from about 10,660 to over 20,000. RKG Associates was retained to prepare an impact assessment of this expansion on local communities and identify alternative approaches for managing growth related impacts. A key element of this project involved the use of an economic model (REMI) in order to assess demographic and economic impacts. The strategic action plan which emerged from this analysis is now being implemented
military base expansion or closure
Virginia Beach, Virginia
RKG Associates, Inc. prepared a fiscal and economic impact analysis for the City of Virginia Beach to evaluate the possible impacts of closure or expansion of the Oceana Naval Air Station. RKG undertook an extensive baseline economic and demographic analysis of the City and region, and teamed up with the local regional planning agency to run several REMI (Regional Economic Models, Inc.) simulations based on various assumptions regarding the changes. The results, which forecast changes in population, employment and fiscal tax revenues, were used by the City to support policy decisions regarding the future of Oceana Naval Air Station.
downtown development financing
Worcester, Massachusetts
Berkley Investments purchased the Worcester Outlet Mall and two office buildings, with the goal of developing a major new mixed-use project. The key to the implementation of this project is the demolition of the existing outlet mall, which is largely vacant, and the reopening of several city streets that were closed when the mall was built 30 years ago. The cost of this demolition, street reconstruction, sewer and water, and parking garage construction is estimated to be $64 million, a cost that the overall project cannot support. Using an estimate of the net increase in property taxes to the City, RKG Associates Inc. developed a computer model to calculate what level of bond financing the new project would support, based on the incremental increase in property taxes. In July 2005, the Worcester City Council unanimously approved the multi-phase, multi-year project, including authorization to allow the City administration to take advantage of the State's new District Improvement Financing.