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Article: How a fiscal impact study wins project approval. (includes related articles)
- Article from:
- Professional Builder (1993)
- Article date:
- January 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Towns worry about the costs of new development. Your study shows both costs and benefits.
The next time you approach the town planning board to get approval for a development, you might want to arm yourself with a fiscal impact analysis. Builders in Michigan and Connecticut report success with this strategy.
Designed to convince a local government that development will not break its budget, a fiscal analysis reports not only what impact a project will have on a local government's finances, but also the taxes or revenues that home buyers are likely to pay or spend.
"It projects the costs, taxes, revenues and spending that a new community will generate," ...