Economic and Fiscal Analysis of Transportation Projects
socioeconomic Impact Analysis
Aroostook County, Maine
The goal of the Aroostook County Transportation Study was to identify a corridor that would improve transportation and efficiency within northeastern Aroostook County and that would link the area to other portions of the United States and Canada in order to support regional economic growth. As one member of a large consulting team, RKG analyzed existing demographic and economic conditions, along with property values and sales trends in communities located along the entire improvement corridor (essentially Route 1 from Houlton to Madawaska). The purpose of the analysis was to de-termine the cost of acquiring properties within the pre-ferred corridor right-of-way.
transportation oriented development
Lawrence, Massachusetts
RKG Associates, Inc. was retained by the engineering firm of DJM Harris to prepare an analysis of the optimal location for a new commuter rail station in downtown Lawrence, Massachusetts. It was determined that the existing mill buildings in downtown Lawrence contained over 10 million square feet of underutilized space which presented an enormous economic development opportunity. The new commuter rail station has been completed and a number of the major mill complexes immediately adjacent to the rail station have been purchased by developers who plan to upgrade these properties to residential, high tech office and retail usage.
socioeconomic impact analysis
Warwick, Rhode Island
TF Green Airport is the largest commercial service airport in Rhode Island, averaging 300 operations per day. With a goal of improving airport safety and efficiency, the Rhode Island Airport Corporation created a plan to extend each of their two runways to between 8,700 and 9,300 feet. RKG’s task was to estimate the number of residential properties that would potentially be acquired and estimate the impact to local property taxes and municipal service and education costs. While nearing the end of a multi-year process, RKG’s impact analysis has helped narrow many different runway expansion alternatives to a small number of potentially preferable alternatives.
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.
Westwood Station
Westwood, Massachusetts
Cabot, Cabot & Forbes has assembled a nationally recognized team to design and develop a 4.5 million square foot comprehensive mixed-use, transit-oriented development plan for a 117-acre site adjacent to the University Avenue/Route 128 MBTA/Amtrak station in the community of Westwood, Massachusetts. The Town was to review and permit the large and urban-oriented development. RKG was hired as the fiscal peer peview consultant to help the Town and its various boards and agencies understand the short and long-term impacts of the project and to negotiate a comprehensive development agreement that includes Tax Increment Financing for over $200 million in infrastructure development. RKG also advised the Town on other development financing mechanisms, including assessment-based financing permitted under special legislation.