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Poised for Success Building Stronger Communities in Today’s Economy Joseph Minicozzi, AICP Minicozzi, AICP

Poised for Success - Community Builders

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Page 1: Poised for Success - Community Builders

Poised for SuccessBuilding Stronger Communities in Today’s Economy

Joseph Minicozzi, AICPMinicozzi, AICP

Page 2: Poised for Success - Community Builders

Thank You!

Clark Anderson Director of the Colorado Office

Randy CarpenterDirector of the Rockies Program

John Heneyman Director of the Wyoming Office

Alison Berry Energy & Economics Specialist - Bozeman Office

Page 3: Poised for Success - Community Builders

DNA

Page 4: Poised for Success - Community Builders
Page 5: Poised for Success - Community Builders

Cognitive Test by Tal Ben-Shahar

Page 6: Poised for Success - Community Builders

6

Atlanta

Page 7: Poised for Success - Community Builders

Things Change…

Page 8: Poised for Success - Community Builders

Things Change…

The 3 T’s - Trains, Tourism, & Tuberculosis

Page 9: Poised for Success - Community Builders
Page 10: Poised for Success - Community Builders

During the 1920’s

• Asheville grew by 20% population/year

• Achieved the highest debt per capita in the entire US

• Second largest city in NC, larger than Charlotte

• City thought it had $5M in bank, but when the audit on the bank happened, it was discovered to only be $18,000

• 3 days after the elected officials were indicted, the Mayor committed suicide

Page 11: Poised for Success - Community Builders

Thomas WolfeAuthor (1900-1938)

You Can’t Go Home Again

They’ve mortgaged those of a generation to come. They have ruined a city,and in doing so,have ruined themselves, their children, and their children’s children.

Asheville has squandered fabulous sums. They’ve flung away the earnings of a lifetime.

Page 12: Poised for Success - Community Builders
Page 13: Poised for Success - Community Builders
Page 14: Poised for Success - Community Builders

Asheville’s Expressway

Development outside of downtown was

encouraged by the new expressways.

Page 15: Poised for Success - Community Builders

1515

Page 16: Poised for Success - Community Builders

plus

The 73

acre Asheville

Mall

Page 17: Poised for Success - Community Builders

In the 70’s and 80’s our downtown died

Page 18: Poised for Success - Community Builders
Page 19: Poised for Success - Community Builders
Page 20: Poised for Success - Community Builders
Page 21: Poised for Success - Community Builders
Page 22: Poised for Success - Community Builders
Page 23: Poised for Success - Community Builders
Page 24: Poised for Success - Community Builders

In the 70’s and 80’s our downtown died.

Asheville’s de facto motto was:

“That will never work here - don’t even try.”

Page 25: Poised for Success - Community Builders

Public Interest Projects

1941 - 11/19/2001

the Dogwood Fund

City Watch

the Alternative Reading Room

Sals

a’s

& Zam

bras

The Orange Peel

The

Laug

hing

See

d

The Public Service Building

The Mountain XpressUr

ban3

Julia

n Pr

ice

51 Biltmore

Page 26: Poised for Success - Community Builders

84,7,8

Page 27: Poised for Success - Community Builders
Page 28: Poised for Success - Community Builders

Among cities with no particular recreational appeal, those that have preserved their past continue to enjoy tourism. Those that haven’t receive almost no tourism at all. Tourism simply doesn’t go to a city that has lost its soul.

Arthur Frommer

1993

Page 29: Poised for Success - Community Builders

Top Travel Destinations of 2007Asheville: #5 of the top 12

Located in the Smoky Mountains, Asheville is a small college town with a thriving arts, culture, and gay & lesbian scene. It is home to the Biltmore Estate, the Thomas Wolfe Memorial, and Carl Sandburg's birthplace in nearby Flat Rock. Recently, Asheville has been drawing literati and celebrities who had gravitated to New Orleans as a hub of culture. With the Blue Ridge Parkway nearby, the area is also great for driving tours and shopping trips to numerous crafts and pottery shops (we suggest picking up a hand-made broom).

Page 30: Poised for Success - Community Builders

How do we talk about the numbers?

Page 31: Poised for Success - Community Builders

$0

$175,000,000

$350,000,000

$525,000,000

$700,000,000

1991 2000 2007 2010

$665,000,000

$552,000,000

$350,000,000

$104,000,000

Asheville CBD Taxable Value

Page 32: Poised for Success - Community Builders
Page 33: Poised for Success - Community Builders

For 40 years this building remained

vacant…… its tax value in 1991 was just over

$300,000.

F 40 thi

Today the building is valued at over $11,000,000

an increase of

over 3500%

in 15 years

The lot is less than 1/5 acre

Old Penneys

Page 34: Poised for Success - Community Builders

0.13 Acres1 unit (2 people + 2 dogs)$232,000 Tax Value$1,800,000 Value/Acre

My House

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

Downtown

Walmart

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

Page 35: Poised for Success - Community Builders

0.13 Acres1 unit (2 people + 2 dogs)$232,000 Tax Value$1,800,000 Value/Acre

My House

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

Downtown

Walmart

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

Page 36: Poised for Success - Community Builders

0.13 Acres1 unit (2 people + 2 dogs)$232,000 Tax Value$1,800,000 Value/Acre

$19,542 Property Taxes/Acre

My House

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

Downtown

Walmart

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

Page 37: Poised for Success - Community Builders

0.13 Acres1 unit (2 people + 2 dogs)$232,000 Tax Value$1,800,000 Value/Acre

$19,542 Property Taxes/Acre

My House

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

Downtown

Walmart

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

$6,500 Property Taxes/Acre

Page 38: Poised for Success - Community Builders

0.13 Acres1 unit (2 people + 2 dogs)$232,000 Tax Value$1,800,000 Value/Acre

$19,542 Property Taxes/Acre

My House

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

$634,000 Property Taxes/Acre

Downtown

Walmart

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

$6,500 Property Taxes/Acre

Page 39: Poised for Success - Community Builders

0.13 Acres1 unit (2 people + 2 dogs)$232,000 Tax Value$1,800,000 Value/Acre

$19,542 Taxes/Acre

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

$634,000 Taxes/Acre

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

$6,500 Taxes/Acre

Property Taxes as a CropCannabis

SoybeansWheat

Page 40: Poised for Success - Community Builders

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

$634,000 Taxes/Acre$330,000 to City

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

$6,500 Taxes/Acre$3,300 to City

$77,000,000Retail Sales

Property + Retail Sales Taxes

Page 41: Poised for Success - Community Builders

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

$640,000 Taxes/Acre$330,000 to City

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

$6,500 Taxes/Acre$3,300 to City

$77,000,000Retail Sales

Property + Retail Sales Taxes

$0.0775 Sales Tax

of which

27% City return

Page 42: Poised for Success - Community Builders

0.19 Acres54,000 sf. Bld$11,000,000 Tax Value$58,900,000 Value/Acre

$640,000 Taxes/Acre$330,000 to City

34.0 Acres220,000 sf Building $20,000,000 Tax Value$590,000 Value/Acre

$6,500 Taxes/Acre$3,300 to City

$77,000,000Retail Sales

Property + Retail Sales Taxes

$47,500 Sales Tax

City return

Page 43: Poised for Success - Community Builders

Downtown

Asheville

$330,000

Property Taxes/Acre to City

$ 50,800

Total Taxes/Acre to City

Wal Mart

Page 44: Poised for Success - Community Builders

Downtown

Asheville

$414,000

Total Taxes/Acre to City

$ 50,800

Total Taxes/Acre to City

Wal Mart

Page 45: Poised for Success - Community Builders

Downtown

Asheville

14 jobs @ 0.19 Acres

73.7

200 jobs @ 34.0 Acres

5.9

Wal Mart

Jobs per Acre

Page 46: Poised for Success - Community Builders

DowntownAsheville

73.75.9

Wal Mart

Jobs per Acre:

$ 83,600$ 47,500City Retail Taxes/Acre:

Land Consumed (Acres): 00.234.0

$634,000$ 6,500Total Property Taxes/Acre:

90.00.0 Residents per Acre:

Joseph Minicozzi, AICP

[email protected]

3Urban

Page 47: Poised for Success - Community Builders

Joe Minicozzi,AICP - Public Interest Projects : Asheville NC

$0

$500

$1,000

$1,500

$2,000

Undeveloped Biltmore Estate County Residential City Residential

$1,716

$1,236

$135$30

Residential

Buncombe County Property Tax Revenue Profile: 2007 Tax Yield per Acre

eville NC

Page 48: Poised for Success - Community Builders

Joe Minicozzi,AICP - Public Interest Projects : Asheville NC

ResidentialCommercial

$0

$2,000

$4,000

$6,000

$8,000

Undeveloped Biltmore Estate County Residential City Residential City - Commercial Asheville Mall

$7,995

$2,406

$1,716$1,236

$135$30

Buncombe County Property Tax Revenue Profile: 2007 Tax Yield per Acre

$7,995

t Projects : Asheville NC

Page 49: Poised for Success - Community Builders

Joe Minicozzi,AICP - Public Interest Projects : Asheville NC

ResidentialCommercialCentral Business District

$0

$75,000

$150,000

$225,000

$300,000

Undeveloped

Biltmore Estate

County Residential

City Residential

City - Commercial

Asheville Mall

CBD 1-2 Story Office

CBD 2-4 Story Apts.

CBD Mixed-Use 3-4 Stories

CBD Mixed-Use 6+ Stories

$250,125

$44,887

$18,109$7,059$7,995$2,406$1,716$1,236$135$30

$250,12$250,125

Buncombe County Property Tax Revenue Profile: 2007 Tax Yield per Acre

Projects : Asheville NC

Page 50: Poised for Success - Community Builders

Scary Math

Page 51: Poised for Success - Community Builders

How do you compare a car?

Toyota Prius571 miles per tank

Bugatti Veyron390 miles per tank

Rolls-Royce Phantom Drophead380 miles per tank

Ford F150 Lariat LTD648 miles per tank

1955 BMW Isetta 245 miles per tank

Page 52: Poised for Success - Community Builders

How do you compare a car?

Toyota Prius571 miles per tank

Bugatti Veyron390 miles per tank

Rolls-Royce Phantom Drophead380 miles per tank

Ford F150 Lariat LTD648 miles per tank

1955 BMW Isetta 245 miles per tank

12

34

5

Page 53: Poised for Success - Community Builders

How do you compare a car?

Toyota Prius51/48 mpg

Bugatti Veyron8/15 mpg

Rolls-Royce Phantom Drophead11/18 mpg

Ford F150 Lariat LTD13/18 mpg

1955 BMW Isetta 50/70 mpg

Page 54: Poised for Success - Community Builders

How do you compare a car?

Toyota Prius51/48 mpg

Bugatti Veyron8/15 mpg

Rolls-Royce Phantom Drophead11/18 mpg

Ford F150 Lariat LTD13/18 mpg

1955 BMW Isetta 50/70 mpg

32

54

1

Page 55: Poised for Success - Community Builders

ResidentialCommercialCentral Business District

$0

$75,000

$150,000

$225,000

$300,000

Undeveloped

Biltmore Estate

County Residential

City Residential

City - Commercial

Asheville Mall

CBD 1-2 Story Office

CBD 2-4 Story Apts.

CBD Mixed-Use 3-4 Stories

CBD Mixed-Use 6+ Stories

$250,125

$44,887

$18,109$7,059$7,995$2,406$1,716$1,236$135$30

$250,12$250,125

Buncombe County Property Tax Revenue Profile: 2007 Tax Yield per Acre

Joe Minicozzi,AICP : Asheville NCzi,AICP : Asheville NC

Page 56: Poised for Success - Community Builders

The Sarasota, FL

Case Study

Page 57: Poised for Success - Community Builders

*Average values per Board of Realtors

$0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000

Residential Commercial Mixed-Use

Sarasota County Property Tax Revenue Profile: 2008 Tax Yield per Acre

1350 Main Street

Orange Blossom Tower

33 South Palm Avenue $92,500

$790,452

$1,195,740

County Single-Family*

County Multi-Family*

City Single-Family* $8,211

$7,807

$3,651

Westfield Southgate Mall

Burger King at I-75

Sarasota Crossings

Westfield Sarasota Square Mall

Walmart Supercenter

$21,752

$8,374

$13,019

$10,579

$15,458

Joe Minicozzi,AICP - Public Interest Projects : Asheville NC

00,000

eville NC

Page 58: Poised for Success - Community Builders

$92,500 pa/y

$3,700 pa/y

Page 59: Poised for Success - Community Builders

A corporation is a formal business association with a publicly registered charter recognizing it as a separate legal entity having its own privileges, and liabilities distinct from those of its members. Corporations take many forms, most are used to conduct business.

Incorporation is the forming of a new corporation. The corporation may be a business, a non-profit organization, sports club, or a government of a new city or town.

Det

ail f

rom

Elih

u Ve

dder

, Government (

1896

). Li

brar

y of

Con

gres

s Th

omas

Jef

fers

on B

uild

ing,

Was

hing

ton,

D.C

.s

Thom

as J

effe

rson

Bui

ldin

g, W

ashi

ngto

n, D

.C.

Page 60: Poised for Success - Community Builders
Page 61: Poised for Success - Community Builders
Page 62: Poised for Success - Community Builders

Corporation(s)

Page 63: Poised for Success - Community Builders

Do we balance out the cost?

Page 64: Poised for Success - Community Builders

Photo: Christoph Gielen

Hard Costs� Buildings� Road & Sidewalks� Sewer� Water

Hard Costs� Roads to here� Public buildings� Parks� Sewer� Water

Government Service Cost� Police� Fire� Government� Schools� Economic balance

Developer Costs� Land Cost� Permitting� Drawings� Marketing� Profit

Page 65: Poised for Success - Community Builders

Pho

to: B

arry

Cho

wka

Page 66: Poised for Success - Community Builders

Pho

to: B

arry

Cho

wka

Page 67: Poised for Success - Community Builders

$0

$38

$75

$113

$150

Uncontrolled Controlled Growth numbers for 2000-2025Cost Revenue

$$ in

Bill

ions

23,454,000 Million Households

Page 68: Poised for Success - Community Builders

$0

$38

$75

$113

$150

Uncontrolled Controlled Growth numbers for 2000-2025Cost Revenue

$$ in

Bill

ions

23,454,000 Million Households

Perm

its &

Fee

s

Page 69: Poised for Success - Community Builders
Page 70: Poised for Success - Community Builders

AP Wire Logo

Page 71: Poised for Success - Community Builders

Do we balance out the cost?

Page 72: Poised for Success - Community Builders

Skye

Isle

, FL

: Chr

isto

ph G

iele

n (p

hoto

)

Page 73: Poised for Success - Community Builders

Rank DSA Urban Form Unit Cost

1 Downtown Compact $9,2512 Southpoint Contiguous $9,767

3 Countryside Contiguous $12,693

4 Cantonment Scattered $15,316

5 Tampa Palms Satellite $15,447

6 University Linear $16,260

7 Kendall Linear $16,514

8 Wellington Scattered $23,960

AVERAGE $14,901

(Per Single Family Dwelling Unit)

THE SEARCH FOR EFFICIENT URBAN GROWTH PATTERNS:A Study of the Fiscal Impacts of Development in Florida.

James Duncan and Associates, July 1989

TOTAL EXTERNAL CAPITAL PUBLIC FACILITY COSTS

Page 74: Poised for Success - Community Builders

Rank DSA Urban Form Unit Cost

1 Downtown Compact $9,2512 Southpoint Contiguous $9,767

3 Countryside Contiguous $12,693

4 Cantonment Scattered $15,316

5 Tampa Palms Satellite $15,447

6 University Linear $16,260

7 Kendall Linear $16,514

8 Wellington Scattered $23,960

AVERAGE $14,901

(Per Single Family Dwelling Unit)

THE SEARCH FOR EFFICIENT URBAN GROWTH PATTERNS:A Study of the Fiscal Impacts of Development in Florida.

James Duncan and Associates, July 1989

TOTAL EXTERNAL CAPITAL PUBLIC FACILITY COSTS

Page 75: Poised for Success - Community Builders

357 Units569,928 sf$18.9 M

30.6 acres

197 Units108,200 sf$193.35 M1.9 acres

NW Corner of Fruitville & I-75

Downtown 1350 Main5 Points

Orange Blossom

Page 76: Poised for Success - Community Builders

Joe Minicozzi,AICP - : Asheville NC

Downtown Sarasota

100 Marlin Lakes Circle

30.6

3.4

Land Consumed (acres)

$10.

0 M

$5.7

M

Infrastructure Cost

42

3

Payback Period (years)

$238

$1,7

56

Generated Return per $1,000

Public Investment

Comparing the cost of 357 units of multi-family housing

in Sarasota County

Expe

nse

Reve

nue

County Tax Yield(per year)

$238

,529

$1,9

80,9

00

2%

17.6

%

County ROI0

0

i AICP : Asheville NC

Page 77: Poised for Success - Community Builders

Joe Minicozzi,AICP : Asheville NC

Downtown Sarasota

100 Marlin Lakes Circle

Evaluating 357 multi-family units in

Sarasota County

Expe

nse

Reve

nue

0

Cumulative - at year 20

-$10,000,000

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

Net

-$5,240,408

$33,921,713

UrbanSuburban

CP : Ashe ille NC

Page 78: Poised for Success - Community Builders

About TownBuilding Revenue for Communities

Page 79: Poised for Success - Community Builders

What are the numbers for Garfield County?

Page 80: Poised for Success - Community Builders
Page 81: Poised for Success - Community Builders
Page 82: Poised for Success - Community Builders

40 % tax producing

Page 83: Poised for Success - Community Builders

40 % tax producing

Page 84: Poised for Success - Community Builders

715 Grand

$335,091/acre

$444,717/acre

701 Grand

$544,173/acre

$187,635/acre

801 Grand

$130,657/acre

Page 85: Poised for Success - Community Builders

*Average values per Garfield County

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

Residential Commercial Mixed-Use

Garfield County (Glenwood Springs) Property Tax Revenue Profile: 2010 Tax Yield per Acre

701

Gra

nd

821

Gra

nd

Hot

el D

enve

r

$434

Joe Minicozzi,AICP - Asheville NC

Hot

el C

olor

ado

Targ

et

Wal

mar

t

Roar

ing

Fork

Cou

nty

Res.

C

ondo

*

G-S

prin

gs

Mal

l

Kmar

t$1

,495

$1,6

43

$2,1

36

$2,1

56

$2,2

70

$2,3

26

$3,0

34

$4,2

29

$47,

150

$58,

724

801

Gra

nd

Gle

nwoo

d M

eado

ws

Hot

Spr

ings

$57,

695

805

Blak

e

Cou

nty

Res.

S-F

*$3

09

420

7th

Stre

et

City

Res

. Con

do*

City

Res

. S-F

*

$5,5

14

$13,

853

$16,

259

$19,

894

$26,

270

zzi,AICP - Asheville NC

Page 86: Poised for Success - Community Builders

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

*Average values per Garfield County

Residential Commercial Mixed-Use

Garfield County (Glenwood Springs) Property Tax Revenue Profile: 2010 Tax Yield per Acre

701

Gra

nd

821

Gra

nd

Hot

el D

enve

r

$434

Hot

el C

olor

ado

Targ

et

Wal

mar

t

Roar

ing

Fork

Cou

nty

Res.

C

ondo

*

G-S

prin

gs

Mal

l

Kmar

t$1

1,36

1

$13,

945

$2,1

36

$12,

786

$39,

082

$2,3

26

$44,

194

$24,

570

$54,

663

$66,

236

801

Gra

nd

Gle

nwoo

d M

eado

ws

Hot

Spr

ings

$65,

207

805

Blak

e

Cou

nty

Res.

S-F

*$3

09

420

7th

Stre

et

City

Res

. Con

do*

City

Res

. S-F

*

$10,

089 $13,

853

$20,

834

$27,

406

$33,

782

Retail Sales Tax

Joe Minicozzi,AICP - Asheville NCzzi,AICP - Asheville NC

Page 87: Poised for Success - Community Builders

Kmart

0.4 acres of the Denver Centre would equal one 15 acre Kmart in real estate value.

$287k taxable on 0.06 Acres

$1.82M taxable on 15 acres

Garfield County Property Tax Revenue Profile: 2010 Tax Yield per Acre

$$$$$$$$$$$$$222287k t bl 0 06 A

Page 88: Poised for Success - Community Builders

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

*Average values per Garfield County

Residential Commercial Mixed-Use

Garfield County (Glenwood Springs) Property Tax Revenue Profile: 2010 Tax Yield per Acre

701

Gra

nd

821

Gra

nd

Hot

el D

enve

r

Hot

el C

olor

ado

Targ

et

Wal

mar

t

Roar

ing

Fork

Cou

nty

Res.

C

ondo

*

G-S

prin

gs

Mal

l

Kmar

t

801

Gra

nd

Gle

nwoo

d M

eado

ws

Hot

Spr

ings

805

Blak

e

Cou

nty

Res.

S-F

*

420

7th

Stre

et

City

Res

. Con

do*

City

Res

. S-F

*

Retail Sales Tax

Loca

l

Denv

er, E

astla

ke, &

Loc

al

Arka

nsas

Min

neso

ta

Min

neso

ta, D

alla

s, C

alifo

rnia

, & E

ngle

woo

d, C

O

Loca

l

Loca

l

Loca

l

Loca

l

Loca

l

Loca

l

Loca

l

Loca

l

Loca

l

Arka

nsas

, Kan

sas,

Eng

lew

ood,

CO

, & L

ocal

e d per

Loca

l

Cal

iforn

ia

Loca

l

Joe Minicozzi,AICP - Asheville NCzzi,AICP - Asheville NC

Page 89: Poised for Success - Community Builders

What are the numbers for Larimer County?

Page 90: Poised for Success - Community Builders
Page 91: Poised for Success - Community Builders
Page 92: Poised for Success - Community Builders
Page 93: Poised for Success - Community Builders

6.86 acres of the Cherry Street Buildings would equal the property value of one 47.3 acre Drake Strip Mall areas.

$11.5M on 47.3 acres

Property Tax Revenue Profile: 2011 Tax Yield per Acre

Cherry Street Condos

$418k on 0.25 Acres

Drake Strip Total

Page 94: Poised for Success - Community Builders

*Average values per Larimer County

$0

$11,667

$23,333

$35,000

$46,667

$58,333

$70,000

Residential Commercial Mixed-Use

Ft. Collins City Property Tax Revenue Profile: 2011 Tax Yield per Acre

Wal

mar

t

$5,2

95

$10,

831

$14,

665

$63,

527

Cou

nty

Res.

S-F

*

Mitc

hell

Bloc

k

City

Res

. S-F

*

$16,

393

City

Res

. M-F

*

Retail Tax

Tech

nolo

gy P

ark

$44,

625

$43,

001

$41,

843

$39,

611

$36,

710

$32,

172

$23,

937

125

S. C

olle

ge

Old

Tow

n Lo

fts

Lind

en H

otel

Poud

re V

alle

y N

at’l

Bank

Ope

ra B

uild

ing

Cor

tina

Con

dos

209

Mel

drum

Che

rry S

t. C

ondo

s

CBD

Cor

e Av

erag

e

Urban3

Savi

ngs

Con

do

CBD

Ave

rage

Wes

t Pro

spec

t

Foot

hills

Mal

l Tot

al

Fron

t Ran

ge V

illage

Drak

e St

rip

Lam

ay T

otal

Fron

t Ran

ge

Mal

l Sol

o

Hilt

on

Pine

Stre

et L

ofts

$3,8

13

$3,3

24

$3,2

90

$2,3

77

$1,8

43

$1,6

19

$1,2

67

$841

$0 $832

$701

$43,

214

$23,

933

Page 95: Poised for Success - Community Builders

*Average values per Larimer County

$0

$11,667

$23,333

$35,000

$46,667

$58,333

$70,000

Residential Commercial Mixed-Use

Ft. Collins City Property Tax Revenue Profile: 2011 Tax Yield per Acre

Wal

mar

t

$5,2

95

$10,

831

$14,

665

$63,

527

Cou

nty

Res.

S-F

*

Mitc

hell

Bloc

k

City

Res

. S-F

*

$16,

393

City

Res

. M-F

*

Retail Tax

Tech

nolo

gy P

ark

$44,

625

$43,

001

$41,

843

$39,

611

$36,

710

$32,

172

$23,

937

125

S. C

olle

ge

Old

Tow

n Lo

fts

Lind

en H

otel

Poud

re V

alle

y N

at’l

Bank

Ope

ra B

uild

ing

Cor

tina

Con

dos

209

Mel

drum

Che

rry S

t. C

ondo

s

CBD

Cor

e Av

erag

e

Urban3

Savi

ngs

Con

do

CBD

Ave

rage

Wes

t Pro

spec

t

Foot

hills

Mal

l Tot

al

Fron

t Ran

ge V

illage

Drak

e St

rip

Lam

ay T

otal

Fron

t Ran

ge

Mal

l Sol

o

Hilt

on

Pine

Stre

et L

ofts

$3,8

13

$3,3

24

$3,2

90

$2,3

77

$1,8

43

$1,6

19

$1,2

67

$841

$0 $832

$701

$43,

214

$23,

933

Page 96: Poised for Success - Community Builders

What are the numbers for Teton County?

Page 97: Poised for Success - Community Builders

*Average values per Board of Realtors

$0

$15,000

$30,000

$45,000

$60,000

$75,000

$90,000

Residential Commercial Mixed-Use

Teton County Property Tax Revenue Profile: 2010 Tax Yield per Acre

Cou

lter

Build

ing

70 E

. Litt

le

Soth

eby’s

$3

$26,

830

Joe Minicozzi,AICP - Public Interest Projects : Asheville NC

10 N

. Mai

n

Brol

ims

Tota

l

King

’s Di

scou

nt

Cor

ner D

rug

City

Re

side

ntia

l*

Cou

nty

Resi

dent

ial*

5146

N. H

wy 33

Und

evel

oped

La

nd

$811

$1,4

43

$2,4

80

$5,2

99

$8,8

09

$10,

971

$12,

064

$12,

449

$55,

668

$89,

556

Key

Bank

$19,

816

60 E

Litt

le

Brol

ims

Gro

cery

$23,

743

$73,

377

35 N

. Mai

n

Page 98: Poised for Success - Community Builders

Brohlims Plaza and outparcels

$10,971/ay

Teton County Property Tax Revenue Profile: 2010 Tax Yield per Acre

2.4 acres of this office Building would equal one 12.2 acre Plaza and out-parcels

$55,668/ay70 East Little

Page 99: Poised for Success - Community Builders

What are the numbers for Natrona County?

Page 100: Poised for Success - Community Builders

Kmart & Outparcels$79,281/acre

Walmart, Sams, & Outparcels$50,200/acre

KO$

KO$

Eastridge Mall$48,397/acre

Assessed Value for Clusters

Page 101: Poised for Success - Community Builders

Total ValueTotal Property Taxes

Total AcresAdjusted Value/Acre

Casper CBD

$214M$247,291

203.7$57,815

$93.3M$191,775

63.1$144,748

Eastridge

Page 102: Poised for Success - Community Builders

*Average values per Natrona County

$0

$2,500

$5,000

$7,500

$10,000

$12,500

Residential Commercial Mixed-Use

Natrona County (Casper) Property Tax Revenue Profile: 2011 Tax Yield per Acre

Joe Minicozzi,AICP : Asheville NC

Wel

ls F

argo

Cy

+ Po

plar

Mal

l + K

mar

t +

ever

ythi

ng$7

52

$948

$1,0

31

$1,4

03

$5,3

65

$13,

129

Sier

ra W

est

$12,

076

Lou

Taub

ert’s

Cou

nty

Res.

S-F

*

Wyo

Nat

iona

l Ba

nk A

partm

ents

City

Res

. S-F

*

$6,6

57

Dow

ntow

n M

ean

w/e

xem

pt

1st I

nter

stat

e10

4 S.

Woo

lcot

t

Cy

Strip

East

ridge

Mal

l

Wal

mar

t + S

ams

Wal

mar

t@C

y +

Out

Par

cels

$311 $433

$523

$13 $6

29

$653

Kmar

t + O

utpa

rcel

s (5

5 ac

res)

Dow

ntow

n M

ean

wo/

exem

pt$1

,882

$10,

189

,AICP : Asheville NC

Page 103: Poised for Success - Community Builders

Eastridge Mall$37M on 74.1 acres

8.7 acres of the 133 S. Center would equal one 74.1 acre

Eastridge Mall

Natrona County Property Tax Revenue Profile: 2011 Tax Yield per Acre

133 S. CenterSierra West

$391k on 0.09 Acres

Page 104: Poised for Success - Community Builders

55,316 pop.

23 population & 980-1000 lots

Page 105: Poised for Success - Community Builders

Understanding Montana

Latte, Jed?

Page 106: Poised for Success - Community Builders

No State Retail Sales Taxes

Page 107: Poised for Success - Community Builders

What are the numbers for Bozeman?

Page 108: Poised for Success - Community Builders

*Average values per Board of Realtors

$0

$16,667

$33,333

$50,000

$66,667

$83,333

$100,000

Residential Commercial Mixed-Use

Gallatin County Property Tax Revenue Profile: 2010 Tax Yield per Acre

Baxt

er H

otel

Fech

ter B

uild

ing

The

Balti

mor

e

$3,1

88

$30,

959

Joe Minicozzi,AICP - Urban3 : Asheville NC

Boze

man

Hot

e(u

nadj

uste

d)l

The

Blac

kmor

e

Safe

way

@ 9

th

City

Res

iden

tial*

Gal

latin

Man

or

Cos

tco

Gal

latin

Mal

l

Boze

man

Sh

oppi

ng P

laza

Wal

mar

t

Targ

et P

laza

Cou

nty

Resi

dent

ial*

$3,3

71

$3,8

76

$3,9

36

$4,6

12

$4,6

37

$5,2

40

$5,5

92

$6,2

57 $10,

361

$36,

666

$49,

278

$94,

143

Villa

ge T

ownh

ouse

(sam

ple

aver

age)

$17,

500

Page 109: Poised for Success - Community Builders

*Average values per Board of Realtors

$0

$16,667

$33,333

$50,000

$66,667

$83,333

$100,000

Residential Commercial Mixed-Use

Gallatin County Property Tax Revenue Profile: 2010 Tax Yield per Acre

Baxt

er H

otel

Fech

ter B

uild

ing

The

Balti

mor

e

$3,1

88

$30,

959

Joe Minicozzi,AICP - Urban3 : Asheville NC

Boze

man

Hot

e(u

nadj

uste

d)l

The

Blac

kmor

e

Safe

way

@ 9

th

City

Res

iden

tial*

Gal

latin

Man

or

Cos

tco

Gal

latin

Mal

l

Boze

man

Sh

oppi

ng P

laza

Wal

mar

t

Targ

et P

laza

Cou

nty

Resi

dent

ial*

$3,3

71

$3,8

76

$3,9

36

$4,6

12

$4,6

37

$5,2

40

$5,5

92

$6,2

57

$10,

361 $3

6,66

6 $49,

278

$94,

143

Villa

ge T

ownh

ouse

(sam

ple

aver

age)

$17,

500

Page 110: Poised for Success - Community Builders

Walmart

2.2 acres of the Fechter Building would equal one 27 acre Walmart

Fechter Building

$1.1M on 0.14 Acres$16.4M on 27 acres

Gallatin County Property Tax Revenue Profile: 2010 Tax Yield per Acre

Page 111: Poised for Success - Community Builders

What are the numbers for Missoula County?

Page 112: Poised for Success - Community Builders

67k population 110k MSA

$193M Total Value74.8 Total Acres65% Taxable$2,582,285 market val/acre

Missoula

83k population 417k MSA

$668M Total CBD Value359 Total Acres 66% Taxable $3,839,081 market val/acre

Asheville

Core$166M Total Value36.6 Total Taxable Acres$4,535,519 market val/acre

7 Breweries = 9.6kp/b

11 Breweries (15) = 7.5kp/b

Page 113: Poised for Success - Community Builders

Missoula Legacy

Page 114: Poised for Success - Community Builders

Value Per Acre

$7,732,170

200 N HIGGINS

Page 115: Poised for Success - Community Builders

*Median values per Missoula County. Average County Mills = 145.04

$0

$40,000

$80,000

$120,000

SF

Co

unty

(Med

ian)

Km

art

Tow

n &

Co

untr

y S

hop

pin

g

Wal

mar

t (R

eser

ve S

t)

SF

City

(Med

ian)

Ho

me

Dep

ot

(Res

erve

St)

Res

erve

St

Clu

ster

Mea

n

So

uthg

ate

Mal

l

Ho

liday

Vill

age

Sho

pp

ing

Lew

is &

Cla

rk S

hop

pin

g

Mul

ti F

amily

Co

unty

Mul

ti-F

amily

City

(Med

ian)

110

N H

IGG

INS

AV

E

Do

wnt

ow

n M

ean

200

N H

IGG

INS

101

W A

LDE

R S

T

101

S 3

RD

ST

Riv

er F

ront

Pla

ce

Flo

renc

e H

ote

l

350

RY

MA

N S

T

Residential Commercial Mixed-Use

Missoula County Property Tax Revenue Profile: 2012 Tax Yield per Acre

$2,7

83

$3,4

86

$3,5

38

$6,5

28

$6,9

70

$50,

075

$155

,514

$59,

218

$14,

453

$1,7

11

$1,9

55

$1,9

75

$256 $2

,609

$2,2

45

$3,7

28

$21,

712

Joe Minicozzi,AICP : Asheville NCzi,AICP : Asheville NC

$22,

695

$29,

584

$1,6

75

Page 116: Poised for Success - Community Builders

Reserve Street ClusterDowntown (w/o exempt)

36.74 Acres

$167.1M in value

$4,549,108/acre wo Exempt

171.22 Acres

$152.2M in value

$888,674/acre total value

Page 117: Poised for Success - Community Builders

1.3 acres of the 101 3rd would equal one 20.9 acre Walmart.

$13.6M on 20.9 acres

City of Missoula Tax Revenue Profile: 2012 Tax Yield per Acre

101 S 3rd Street

$1.9M on 0.18 Acres

$13 6M on 20 9 acres

Reserve Street Walmart

Page 118: Poised for Success - Community Builders

Precision Agriculture

Page 119: Poised for Success - Community Builders

*Average values per Garfield County

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000

Residential Commercial Mixed-Use

Sheridan County (Sheridan) Property Tax Revenue Profile: 2010 Tax Yield per Acre

Keen

an H

otel

Cre

scen

t Bld

.

Bank

of t

he W

est

$18,

164

Dow

n/U

p M

all

Post

Offi

ce A

pts

Wal

mar

t

Wal

mar

t Tot

+A

Mill

Inn

Hom

e De

pot

$7,8

88

$8,4

29 $20,

603

$21,

290

$11,

066

$11,

774

$33,

251

$40,

951

$91,

833

$145

,469

Beav

er C

reek

Cad

y Bl

d.

Wel

ls F

argo

$97,

813

NY

Stor

e

Cou

nty

Res.

S-F

*$2

,986

134

S. M

ain

Wal

mar

t Tot

al

City

Res

. S-F

*

$41,

533

$41,

906

$51,

675

1st I

nt T

otal

Safe

way

$66,

139

$71,

680 $8

6,75

1

$71,

815

1st I

nt s

ans

Park

ing

Retail Tax

000000

,0000000000

255555,0000

y Tax Reveeennnnuuuueeeee

75

Joe Minicozzi,AICP : Asheville NCzi,AICP : Asheville NC

Page 120: Poised for Success - Community Builders

*Average values per Garfield County

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000

Residential Commercial Mixed-Use

Sheridan County (Sheridan) Property Tax Revenue Profile: 2010 Tax Yield per Acre

Keen

an H

otel

Cre

scen

t Bld

.

Bank

of t

he W

est

$18,

164

Dow

n/U

p M

all

Post

Offi

ce A

pts

Wal

mar

t

Wal

mar

t Tot

+A

Mill

Inn

Hom

e De

pot

$7,8

88

$8,4

29 $20,

603

$21,

290

$11,

066

$11,

774

$33,

251

$40,

951

$91,

833

$145

,469

Beav

er C

reek

Cad

y Bl

d.

Wel

ls F

argo

$97,

813

NY

Stor

e

Cou

nty

Res.

S-F

*$2

,986

134

S. M

ain

Wal

mar

t Tot

al

City

Res

. S-F

*

$41,

533

$41,

906

$51,

675

1st I

nt T

otal

Safe

way

$66,

139

$71,

680 $8

6,75

1

$71,

815

1st I

nt s

ans

Park

ing

Retail Tax

000000

,0000000000

255555,0000

y Tax Reveeennnnuuuueeeee

75

Joe Minicozzi,AICP : Asheville NCzi,AICP : Asheville NC

Page 121: Poised for Success - Community Builders

*Average values per Garfield County

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000

Residential Commercial Mixed-Use

Sheridan County (Sheridan) Property Tax Revenue Profile: 2010 Tax Yield per Acre

Keen

an H

otel

Cre

scen

t Bld

.

Bank

of t

he W

est

$18,

164

Dow

n/U

p M

all

Post

Offi

ce A

pts

Wal

mar

t

Wal

mar

t Tot

+A

Mill

Inn

Hom

e De

pot

$7,8

88

$8,4

29 $20,

603

$21,

290

$11,

066

$11,

774

$33,

251

$40,

951

$91,

833

$145

,469

Beav

er C

reek

Cad

y Bl

d.

Wel

ls F

argo

$97,

813

NY

Stor

e

Cou

nty

Res.

S-F

*$2

,986

134

S. M

ain

Wal

mar

t Tot

al

City

Res

. S-F

*

$41,

533

$41,

906

$51,

675

1st I

nt T

otal

Safe

way

$66,

139

$71,

680 $8

6,75

1

$71,

815

1st I

nt s

ans

Park

ing

Retail Tax

000000

,0000000000

255555,0000

y Tax Reveeennnnuuuueeeee

75

Joe Minicozzi,AICP : Asheville NCzi,AICP : Asheville NC

Page 122: Poised for Success - Community Builders

3

Grand Junction, CO Glenwood Springs, CO

Rifle, CO

Asheville, NCe, NCDunn, NC

Sarasota, FL

Sheridan, WY

Billings, MTBozeman, MT

Driggs, ID

Completed Study

Urban

Cheyenne, WY

Petaluma

Cheyenne

Laramie, WY

Columbia, SC

Modesto, CA

Sheridan, W

Laramie WYamie WY

Casper, WY

Ft. Collins, CO

Merced, CA

Godesto, CAMo

Turlock, CA

Page 123: Poised for Success - Community Builders

$0

$125

$250

$375

$500

$415.00

$105.80

$53.70$7.80$7.00$3.70$1.00

Residential

Commercial

Mixed-Use

County S-F City S-F Walmart Mall or strip Mixed-Use (2 Story)

Mixed-Use (3 Story)

Mixed-Use (6 Story)

Ratio Difference of 15 City Sample Set3Urban

Joseph Minicozzi, AICP

County Property Taxes/Acre

Page 124: Poised for Success - Community Builders

3

Grand Junction, CO Glenwood Springs, CO

Rifle, CO

Asheville, NCe, NCDunn, NC

Sarasota, FL

Sheridan, WY

Billings, MTBozeman, MT

Driggs, ID

Completed Study

Urban

Cheyenne, WY

Petaluma

Cheyenne

Laramie, WY

Columbia, SC

Modesto, CA

Sheridan, W

Laramie WYamie WY

Casper, WY

Ft. Collins, CO

Merced, CA

Godesto, CAMo

Turlock, CA

Page 125: Poised for Success - Community Builders

$0

$12,500

$25,000

$37,500

$50,000

$44,775

$32,542

$8,955

$4,007

$825

Residential

Commercial

Mixed-Use

County S-F City S-F Single-UseCommercial

Mixed-Use (2 Story)

Mixed-Use (3 Story)

Sonoran 9 City Sample Set3Urban

Joseph Minicozzi, AICP

County Property Taxes/Acre

Page 126: Poised for Success - Community Builders

MoneyballThe math works. But no matter how many times you prove it, you always have to prove it again.

Billy BeaneGeneral ManagerOakland Athletics

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeanell MMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaannnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnaaaaaaaaaaaaagggggggggggggeeeeeeeeeeeeerrrrrrrrrrrrr

Page 127: Poised for Success - Community Builders
Page 128: Poised for Success - Community Builders

Behavioral Economics

Page 129: Poised for Success - Community Builders

Are we literate about tax policy?

Page 130: Poised for Success - Community Builders

The Window Tax1696-1851, by King William III

Window tax consisted of: 1. a flat-rate house tax per house and,

2. a variable tax for # windows > 10

3. Between 10 and 20 = 4 shillings, and

4. Those > 20 = 8 shillings.

Page 131: Poised for Success - Community Builders

At the time, French houses were taxed by the number of floors below the roof, which exempted the upper floor from taxation.

François Mansart, architect(1598–1666)

His treatment of high roof stories gave rise to the term “Mansard roof"

Photo: Alija

Photo: Alija

Page 132: Poised for Success - Community Builders

MARKETMFO C SORCESFF

Page 133: Poised for Success - Community Builders

What are the numbers for Laramie County?

Page 134: Poised for Success - Community Builders

urban-three.com : Asheville NC

Dell Range Area of Cheyenne, WY

Page 135: Poised for Success - Community Builders

Tax Code

Page 136: Poised for Success - Community Builders

Burger Hot Dog

Cost $10 $1

Sale Price $1 $10

Mark-up -US$9 +$9

What do you want to eat?

(Production)

$9 Transfer

SuburbsDowntown

Page 137: Poised for Success - Community Builders

Why hook your cart to this horse?

Page 138: Poised for Success - Community Builders

Public Policy

Page 139: Poised for Success - Community Builders

LAND RESOURCES ARE LIMITED

Page 140: Poised for Success - Community Builders

FINANCIAL RESOURCES ARE MORE LIMITED

But because human beings tend to focus on short-term benefit and our immediate need, such tragedies of the common occur frequently. Dan Ariely

Author, Predictably Irrational

Page 141: Poised for Success - Community Builders

Sun City, AZ “Zoomberg” from Dolores Hayden’s Field Guide to Sprawl.

We shape our buildings; thereafterthey shape us.

Winston Churchill

p

Page 142: Poised for Success - Community Builders

Full Report - 15p Summary Report - 4p

http://sonoraninstitute.org/abouttown

Joe MinicozziPrincipal

urban-three.com828-255-7951x208