Selected fiscal & econOmic impact analysis projects
Belleayre Resort Development
Catskills, New York
A private developer proposed a resort and mixed-use develop-ment 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 de-velopment. Also, New York City was concerned about possible adverse impacts on it’s public water supply. RKG Associates, Inc. was the lead firm for a consulting team that was charged with re-viewing all of the developers’ proposals, applications, assumptions and findings relative to fiscal, economic and environmental im-pacts. All of RKG’s analysis and findings were completed in accor-dance 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 pla new, 2.2 million square foot corporatand another 520,000 square foot corporate facility located in northern Virginia. RKG Associates, Inc. prepared an economCapital One Services, Inc., employing an econometric policy simulation model that measures the regional and state impacts of various policy actions or eco-nomic events. With RKG’s assistance, Capiof millions in state infrastructure commitas 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 im-pacts. A key element of this project involved the use of an eco-nomic model (REMI) in order to 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 im-pact analysis for the City of Virginia Beach to evaluate the possible impacts of closure or expansion of the Oceana Na-val Air Station. RKG undertook an extensive baseline eco-nomic 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.) simu-lations based on various assumptions regarding the changes. The results, which forecast changes in popula-tion, 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 esti-mate of net increase in property taxes to the City, RKG Asso-ciates 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 .