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 transportation corridor that would im-prove transportation and efficiency within northeastern Aroostook County and that would link the area and other portions of the US 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, MA It was determined that the existing mill buildings in downtown Law-rence contained over 10 million SF of underutilized space which presented an enormous economic development oppor-tunity. The new commuter rail station has been completed and a number of the major mill complexes immediately adja-cent 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 Air-port Corporation created a plan to extend each of their two run-ways to between 8,700 and 9,300 feet. RKG’s task was to esti-mate 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 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.
Westwood Station
Westwood, Massachusetts
Cabot, Cabot & Forbes has assembled a nationally recognized team to design and develop a 4.5 million square foot compre-hensive mixed-use, transit-oriented development plan The plan is proposed for a 117-acre assembled parcel adjacent to the Uni-versity Avenue/Route 128 MBTA/Amtrak station south of Bos-ton in the suburban community of Westwood. The town was faced with daunting challenge large and urban-oriented development. RKG was hired as the fiscal Peer Review consultant to help the town and its various boards and agencies understand the short and long-term im-pacts of the project and to negotiate a comprehensive develop-ment 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.