Development/Economic Impact Assessments
A special focus of predevelopment feasibility services includes development impact assessments. These assessments include both short-term and long-term studies which often include presentations as both oral testimony and a written report. Vantage Point Economic and Transportation Development Strategies, LLC professionals have performed development impact analyses primarily at the request of public sector groups as part of their land use or master planning review processes. At times, private sector parties applying for development approvals also retain Vantage Point Economic and Transportation Development Strategies, LLC to prepare these analyses as part of negotiations on rezonings and other development approvals.
Our economic impact assessments consider both the direct and induced economic efforts of development such as material purchases, employment generation and spending by the new work force. Our analyses describe these factors both for a proposed development’s construction and permanent operation phases.
We are often tasked to evaluate the fiscal costs and benefits of development programs and public policies. Vantage Point Economic and Transportation Development Strategies, LLC’s fiscal impact evaluations generally include: evaluating and projecting development by land use type; estimating net new employment; population and households; and translating the development and demographic projections into fiscal costs and revenues. Fiscal impacts are quantified in terms of capital and operating costs of providing services and facilities. Capital and operating revenues created from development (enhanced property values, tax revenues, jobs and payroll spin-off revenues, secondary development, etc.) are also assessed. Our fiscal impact evaluations conform to federal, state and local evaluation methodology procedures and requirements.
Vantage Point Economic and Transportation Development Strategies, LLC’s in-house transportation division also handles one of the most controversial topics considered during project development review — traffic impact. Often working in concert with traffic and transportation engineering firms, our economists prepare aspects of traffic impact reports that accompany development applications or reviews. Our analyses often consider existing traffic conditions and proposed site characteristics, followed by an identification of future conditions with and without development.
We also measure social impact by assessing the population generated by the proposed development as well as the needs of that population. We use this information to identify the demands imposed by these parties on an array of general and specialized social services.