sample economic & fiscal modeling projects

 

cost of services model

Blacksburg, Virginia

RKG Associates, Inc. was retained by the Town of Blacksburg to develop a methodology that allowed the administration to estimate the fiscal implications of various long-range development scenarios so the community could better position itself for a healthier fiscal future. The model had to account for the municipal revenues and expenditures associated with the size, type, and timing of new development. In addition, the analysis accounted for potential changes in the growth/economic cycle that would impact the municipal revenue and expenditure levels.

The end product of this analysis was the creation of a development driven projection model that measured the fiscal and growth impacts associated with three separate development futures for Blacksburg. Since these scenarios are based on projected growth, the Scenario Builder Projection Model allows the user to adjust the assumptions for the performance of the real estate market and the overall economic climate during the proposed time frame. The development scenario model has been employed by the Town to assist in updating the goals and strategies of the portions of the Town’s Comprehensive Plan dealing with land use, master planning, and sustainable development.

 

economic & Fiscal impact model

Spotsylvania County, Virginia

McConnell AFB

Spotsylvania County hired RKG Associates to provide them with a fiscal and economic impact model upon which to evaluate new development proposals.  The model is a highly dynamic modeling tool that provides the County with realistic, locally relevant outputs while accounting for numerous local market conditions, such as vacancy rates, market activity, school impacts, among others.  The resulting model provides revenue and expenditure impacts of proposed new development, as well as economic impacts, such as jobs, earnings, and output (economic activity) which will help guide the County in land use and development decisions.

 

New hampshire cost of sprawl model

State of New Hampshire

McConnell AFB

The New Hampshire Office of Energy and Planning (NHOEP) was interested in developing a statewide model that would allow communities to evaluate the potential costs of sprawl-related development. The NHOEP’s goal was to provide a simple-to-use tool that would allow local and regional planners to examine the costs associated with sprawling, or inefficient development patterns, with the goal of encouraging “smarter” land use policy and regulatory changes that would result more cost effective, compact forms of development. RKG Associates, with assistance from Placeways, LLC and Urban Interactive Studio, LLC, proposed the creation of an interactive, Internet-based model, that would allow the user to test alternative land development scenarios within any given community in the state. The consulting team developed a model with a map-based interface that allows users to easily select a location within the community (using 40-acre grid squares) to test the impacts of alternative land development scenarios. The model allows users to select a mix of residential, retail, office, or industrial uses, and to define the density of these uses. When the model is run its outputs include the acres of land used, miles of infrastructure constructed, and increases in population and school children. From a fiscal perspective it provides estimates of cost increases related to infrastructure maintenance, emergency services, and schools, as well as comparative increases in local property taxes. Ultimately, the model will allow users to run multiple scenarios at different densities, and/or, locations within the community, and compare the results. This will help planners, officials and residents, evaluate the impacts of a “business as usual approach” to land development and help to highlight the benefits of more compact, better planned, and integrated forms of development. The model is available at www.costofsprawl.org.

 

development feasibility & economic impact model

Alexandria, Virginia

McConnell AFB

As part of the Beauregard Vision Plan effort for the City of Alexandria, RKG Associates led the development and implementation of a financial, fiscal and economic impact analysis model for the City.  The model was calibrated for a specific area of the City, studying the financial feasibility and potential fiscal impact of development and redevelopment efforts.  Although the City utilized the model to test the specific development assumptions of proposed projects within this area of the City, the model was designed to measure the financial and fiscal impacts of any redevelopment scenario proposed for the Beauregard corridor study area.

 

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