Comment 92021

By seancb (registered) - website | Posted September 11, 2013 at 11:56:10 in reply to Comment 91940

Just for fun, I took some map overlay shots comparing the land use requirements for King/Kenilworth vs Main/Kenilworth. I also did some land value math.

tl;dr version: First, it's clear that we could actually have more properties closer to the intersecton if we didn't have ramps. Second, I approximate that the tax value of the land used up by the Kenilworth/King/Lawrence ramp system could be a quarter million dollars (meaning we give up 250,000 of tax income every year).

Before I get into the details, I will freely admit that there is no way to accurately tell the exact value of what properties could exist on this land if it were regraded. But we know it's generating zero tax revenue now, is actually costing us money, and the parcels are large enough that we could reasonably expect that a commercial or multi-unit residential developer might be attracted to shovel ready land here. So it's worth at least considering that there is value here.

But on a grander scheme, this exercise puts a numerical value on the land we are wasting on unnecessary pavement throughout the city.

First, an animation showing a comparison of the land required for King/Kenilworth versus Main/Kenilworth:

Kenilworth Animation

Here is the city tax map of King/Kenilworth. I shaded the areas used up by the ramps:

Kenilworth Shaded

And here is Main/Kenilworth underneath the same shading:

Kenilworth Shaded

And here are the calculations of all of the properties at Main/Kenilworth that would fall under the shaded area (i.e. would need to be removed from tax rolls if we decided to build the same ramp system there):

Ramp Costs Ramp Costs Ramp Costs Ramp Costs

Comment edited by seancb on 2013-09-11 12:01:00

I vote down for offensiveness and up for humour. I cast no votes based on my level of agreement.

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