01/22/1996 Meeting Minutes - Laserfiche WebLink

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Special Council Meeting 1/22/96 Page 3 Mr. O'Brien said their methodology is built around two basic activities. The first is to develop estimates of the market build out values and impact factors on the property and the surrounding area. Also, to attach a price tag to that to find the fiscal and economic impacts of the site to the various build out scenarios. Professor Simons said the fiscal impact would refer to the budget of the Village and the school district. The economic factors would address the number of square feet of build out, the sales price, the lots, and the various jobs that might be associated with that. The economic and market assessments would include build out time frames; we would look at the market for various land uses. They will look at all the reasonable uses on the property to model those different scenarios. Mr. O'Brien said the four phases of the project are also in the proposal. The first is to gather information on the city and the proposed development, to prepare real estate market data, to prepare a baseline computer model of each of the various scenarios and a model for the development scenario. The first phase will be to gather information on the fiscal and economic variables to be used in the study. We have begun to look at some of the information of the studies generated by the Village. They will also look at what the surrounding area will need in terms of greater transportation access and other infrastructure issues and to see if there are other commonalities with the Village and surrounding areas. Mayor Rinker asked what their source of information will be. Mr. O'Brien said the Victor Voinovich study. One of the first things they will do is sit down and talk to Council, the committee and the Village's professional staff to determine what the perception of needs is. A needs assessment within Village Hall will give them a great sense of what is out there. They will go to neibhboring communities to find out what is happening there with similar developments. Professor Simons said they will check the comprehensive plan, the golf course study and other documents the Village provides them. They will also be using County Auditor data. There are a lot of variables besides the bottom line of dollars. There are a lot of quality of life variables they would like to include in the model as well. Traffic counts on S.O.M., road widening issues, additional costs for infrastructure (especially sewer), congestion. They would like to get input from the Village formally and informally and input from the Citizen's Advisory group regarding the objectives and how they can be prioritized.