HomeMy WebLinkAboutFND-007-08
ClfJlmgron
REPORT
FINANCE DEPARTMENT
Meeting:
GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
ReSo\,-,-~()Y)~ fA -I q'-t-og
Monday February 25, 2008
Date:
Report #:
FND-007-08
File #: PLN 20.7.1
By-law #:
Subject:
FINANCIAL IMPACT ANALYSIS OF NEW DEVELOPMENT AREAS
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-007-08 be received;
2. THAT the Financial Impact Analysis of New Development prepared by Hemson
Consulting Ltd., dated February 2008 be received;
3. THAT applications for draft plans of subdivision exceeding 100 units be required to
submit a phasing plan with the proposed application;
4. THAT the Municipality adopt a policy to require a separate subdivision agreement for
each phase of registration of a draft approved plan of subdivision so as to ensure that
growth can be better linked to the capital budget process, and that this be implemented
through a condition of draft approval; and
5. THAT any delegations and interested parties be advised of Council's decision.
Submitted by:
Reviewed by:
~--=- ~'U.
Franklin Wu,
Chief Administrative Officer.
vi . Crome, M.C.I.P., R.P.P.
Director of Planning Sd
~A1P/L
A.s. Cannella, ----..
Director of Engineering Services.
CPI ASCINTIDJClbjl
REPORT NO.: FND-007-08
PAGE 2
1.0 BACKGROUND TO FINANCIAL IMPACT STUDY
1.1 In June of 2007 Council approved Report PSD-078-07 recommending a financial impact
study be undertaken prior to considering a number of large scale residential applications
in the Bowmanville and Newcastle Viilage urban areas. The proposals being reviewed
by the Municipality were considered to not align with the Municipality's infrastructure
financing and timing assumptions as contained in the Development Charges
Background Study 2005. The background to the Municipality's Development Charges
Study projected ail or significant portions of these areas were not anticipated to occur
until 2015 or latter. Staff believed it was prudent for these development applications to
be evaluated in the context of other projects currently budgeted for or forecasted for in
the Development Charges Study.
There were a total of five (5) areas where residential development was proposed that
staff identified as requiring inclusion in the Financial Impact Analysis:
. Northglen Neighbourhood in Bowmanville
. Far Sight Development in Massey Neighbourhood In Bowmanviile
. Port Darlington Neighbourhood in Bowmanviile
. North Viilage Neighbourhood in Newcastle Viilage
. Wilmot Creek Retirement Community, Phase 8
Each of the identified groups contributed an equal amount to fund the study.
The purpose of the analysis is to provide Staff and Council with the information required
to make decisions on how to best manage growth across the entire Municipality.
1.2 Northglen Neighbourhood
The Northglen Neighbourhood is located north of Concession Road 3 to the
Bowmanviile Urban Area boundary, between Regional Road 57 and Liberty Street. At
the time the Financial Impact Study commenced, the Northglen Landowners group had
submitted applications for Official Plan Amendment, Neighbourhood Design Plan
Approval and two applications for proposed draft plan of subdivision and rezoning for
approximately 1725 units on about 107 ha. The analysis considered the 1940 units for
the neighbourhood. The Development Charges Background Study identified a portion of
these lands, immediately north of Concession Road 3, as being developed prior 2014,
the majority of the neighbourhood was identified as being beyond 2014.
1.3 Far Sight Development
Within the Bowmanviile urban area, bounded by Highway 2 to the south, Soper Creek to
the west, Concession Street East to the north and Lambs Road to the east, the lands are
subject of an application submitted by Far Sight Investments Limited, for draft plan of
subdivision. The proposal is for a total of 470 units on 46.041 ha. Within the
Development Charges Background Study the subject lands were identified as being
developed beyond 2014.
REPORT NO.: FND-007.08
PAGE 3
1.4 Port Darlington Neighbourhood
The Port Darlington Neighbourhood located in the Bowmanville urban area is between
Lake Ontario and the Canadian National Railway line and bounded by Bennett Road to
the east and Port Darlington Road to the west. The Municipality is currently considering
applications by the Kaitlin Group Ltd. for official plan amendment, zoning by-iaw
amendment and proposed plan of subdivision. The application was originally filed in
2002 and proposes a total of 699 units over 45.4 ha. More recently the applicant has
suggested they may revise this figure upwards substantially. For the purpose of this
analysis the 1175 units target contained in the Official Plan was utilized. Within the
Development Charges Background Study the subject lands were identified as being
developed beyond 2014.
1.5 North Village Neighbourhood
This neighbourhood located within the Newcastle Village urban area is north of the
Canadian Pacific Railway, west of Arthur Street, South of Concession 3, and east of
Regional Road 17. The lands are subject of applications submitted by Brookfield Homes
and Smooth Run Developments for official plan amendment, neighbourhood design
plan, two proposed draft plans of subdivision and applications for rezoning. The
applications propose a total of 1470 units while the proposed neighbourhood design plan
currently contemplates approximately 1700. Within the Development Charges
Background Study the subject lands were identified as being developed beyond 2014.
1.6 Wilmot Creek Retirement Community
The proposal submitted by Ridge Pine Park is for an expansion of the current gated
community located approximately south of Highway 401 and east of Bennett Road. The
lands are the subject of official plan amendment applications at both the Region and
Clarington to allow an expansion to the urban boundary. The application is currently for a
totai of 340 residential units, a recreation centre and 2000 square metres of retail
commercial floor space. As the lands are not currently within an urban area boundary
they were not considered for development within the Development Charges Background
Study.
2.0 Studv Process
2.1 Shortly following Council approval to undertake the Financial Impact Analysis a meeting
was held with the proponents and consultants of the above referenced applications. The
terms of reference for the study were reviewed and questions with respect to the
analysis, time frame and expected results were answered. At that time the land owners
were requested to contribute to the cost of the study as well as provide data on phasing
and infrastructure required to support the developments.
2.2 Hemson Consulting and municipal staff reviewed the number of housing units
associated with each of the proposals and the proposed timing of construction as
provided by the developers. A model was developed to project the impact of growth on
assessment, expenditures, revenues and tax rates in Clarington to 2031 from the
proposed developments. This was done based on 2007 budgets and tax rate by-laws.
REPORT NO.: FNO..o07.08
PAGE 4
The model allowed for sensitivity testing under the base case and four different
alternative growth scenarios.
2.3 In October the draft findings were presented to the land owners group. Following this
presentation opportunity was provided for meetings with individual proponents to allow
for clarification to issues raised with the draft report, as well as providing opportunity for
the proponents to clarify their proposals and address identified potential impact on the
Municipality's ability to finance the required infrastructure. Meetings occurred from late
October 2007 to late January 2008. During these meetings, the projected number of
units and related timing were revised resulting in required revisions to the draft Financial
Impact Study and a resulting delay in finalizing the study.
3.0 Summary of Fiscal Problem
3.1 Key findings and recommendations from the Financial Impact Study support discussions
with Council over the past year or so pertaining to the status of the development charges
reserve funds, through budget meetings and other updates.
3.2 The key findings are found in Section VI of the attached Financial Impact Study,
February, 2008 on page 22 and will not be repeated here in its entirety, except to say
that growth does not fully pay for growth. This is particularly so with respect to capital as
well as in any time period where operating costs are triggered from opening major
facilities.
3.3 The base case plus four scenarios were undertaken to project for comparative purposes,
tax levy impacts, impacts on a typical household, impact on development charges
reserve funds, and impacts on debt levels.
3.4 In all cases, including the base case, increased fiscal pressures on tax rates and
resulting typical households tax burden result. The Municipality will experience
immediate pressure on its tax rate. The pressure under the development scenarios is
greater, in most years than the base case.
3.5 With respect to development charges reserve funds, the roads and related were used as
the example. The base case shows that, under current development charges rates, a
negative balance approaching $37.7 million will result by 2031. Even under the most
positive growth scenario in the study, a negative balance of $23.8 million results by
2031. The other scenarios show a resulting deficit as high as $89.1 million by 2031.
3.6 The debt level impact was also reviewed with the result that, under all of the growth
scenarios, the Municipality will face increasing pressure to rely on debt financing.
4.0 Recommendations from Study
4.1 As referenced above, the base case reflects an overall negative perspective, irrespective
of action taken on the alternative growth scenarios. The first recommendation in the
study is to review development charges rates and policies immediately. In order to
address this situation, on December 10, 2007, Council approved report FND-024-07 to
REPORT NO.: FND-007-08
PAGE 5
endorse an interim update to the 2005 Development Charges Background Study and
By-Law.
4.2 The second recommendation is to review land supply and housing demand. A revision
of the growth forecasts will not take place under this interim update. However, the 2005
Development Charges By-Law will expire in mid-2010 and therefore a full growth
forecasting exercise will be required during 2009 as part of a new Development Charges
Background Study.
4.3 The third recommendation is to consider mitigating the risk of expanding municipal
services by entering into cost sharing agreements with developers. In Clarington, where
future rates of growth are less certain, cost sharing arrangements carry risk associated
with them. This is particularly true when the Municipality is reliant on development
charges cash flows to pay for existing growth-related debt and hampers Council's
flexibility in future capital budgets. Local services is one area being explored through the
Development Charges Update whereby the costs are excluded from development
charges recovery for some roads and parkiand development and included as conditions
of subdivision approval.
4.4 The complete recommendations from the Financial Impact Study are found on page 24
of the attached document. The Financiai Impact Analysis demonstrates that, under the
Municipality's current policies and practices, advancing development will have an overall
negative fiscal impact on the Municipality. As a result, staff have undertaken to
determine whether alternative approaches can be considered in order to provide options
to allow some development proceed in an effective manner. This will be discussed in
the following sections.
5.0 Enqineerinq Standards and Related Impacts
5.1 The Municipality is committed to servicing approved developing areas through the
Municipality's Capital Budget. The Municipality however, just like a business, must
direct finite financial resources towards providing an adequate supply of housing units
where and when it has been demonstrated that the market can support demand. This
becomes a delicate balance between providing services and living up to the
commitments that we have made while operating within our available budget and
reserve funds. It is for this reason that any consideration of future municipal
expenditures is dependent upon having seen a recovery of the infrastructure
investments we have already made and must be done in a timely and affordable
manner.
5.2 Infrastructure improvements that are necessary to maintain existing infrastructure are
considered non-growth related, while improvements needed to provide municipal
services to new residential developments contained within our Development Charge
Study are considered growth reiated. Growth related and non-growth related projects
are accommodated through the Municipality's annual Capital Budget and Forecast and
the funding of these projects comes in part from such sources such as the tax levy as
well as our development charge reserve funds where development charges levies are
deposited.
REPORT NO.: FND-007-08
PAGE 6
5.3 The background work to the Municipality's Development Charges Study in 2005
identified lands anticipated to be developed and infrastructure required by 2014 or earlier
(Ten Year Growth Areas), as well those lands and associated infrastructure that would
be developed in 2015 and beyond (Long Term Growth Areas). The development of Ten
Year Growth Areas, such as Brookhill Neighbourhood, is always the Municipality's
primary objective. The Ten Year Growth Areas in the Development Charges
Background Study is a snapshot in time and, in part for this reason, the Development
Charges Study is updated every 5 years. This allows the Municipality to adjust to growth
trends and progress in providing infrastructure.
5.4 Municipal staff internally prepare a 10 Year Capital Works Program with every budget.
The 10 Year Capital Works Program is quite specific for the first five years but the timing
becomes more fluid for the latter five years. The only growth-related projects in the 10
Year Capital Works Program are those subdivision applications which have been draft
approved. The draft approval of a plan of subdivision generally Indicates that the
Municipality is committed to service that development within a reasonable timeline.
5.5 At this time, the Capital Works Program necessary for existing registered plans of
subdivision and draft approved plans of subdivision are fully committed for the
next five year time frame. The approval of the expenditure of funds for these growth
related projects are subject, however, to the approval of Council through the annual
budget process. This is indicative of the financial constraints the Municipality has at the
present time.
5.6 The draft approval of any new plans of subdivision which the servicing is sequential to
existing or draft approved developments, and which are expected to develop within the
foreseeable future, wouid have to be scheduled in the next 6 to 10 year forecast (2013 -
2017) or later. Such capital works for these plans of subdivision will still require the
approval of Council and are of course SUbject to Council priorities at that time. To date,
none of these projects are located in the Ten Year Growth Areas as determined by the
2005 Development Charges Background Study.
5.7 It should be understood that when the Municipality states that it is committed to service a
development, this means that we are committed to provide, in a timely fashion, the level
of service that our residents have every right to expect. In a recent quality of life survey
the perception of value for taxes was closely linked to the provision of services such as
parks, trails, recreational facilities and roads. If we do not provide services within the
timeframe that most would consider appropriate our quality of life ratings In future years
may not be quite so favourable and complaints would be expected to increase.
6.0 Modifications to Subdivision Approval and Reqistration Process
6.1 Financial Impact Review
Current Practice
As part of the review of a subdivision application determination is made regarding the
infrastructure required to support the development at an adequate level of service. The
Clarington Official Plan contains policies dealing with growth management. These
policies state that Council may deem applications premature if "the capital works and
REPORT NO.: FND-007.08
PAGE 7
services required to service the lands and the future residents are not within the
Municipality's current capital budget or 10 year capital works forecast as updated from
time to time; or Council is of the opinion that the Municipality's administrative and
financial resources are not sufficient to provide an adequate level of services for those
residents who would be accommodated in the proposed plan of subdivision as well as to
provide and maintain an adequate level of services for existing residents and residents
who will live in developments which have been approved by the Municipality."
Comments with respect to timing of municipal infrastructure are typically provided by
Engineering staff based on their review of the capital works forecast. Engineering liaises
on a regular basis with the Finance Department when required.
Proposed Change
It is not recommended that current process be changed. Where there are concerns
about negative financial impacts, the Official Plan provides for a Financial Impact
Analysis to be conducted.
6.2 Draft Approval of Plans of Subdivisions
Current Practice
As the various agency issues are resolved conditions of draft approval are prepared and
approved by Council, prior to the Director of Planning Services issuing Draft Approval
with conditions. Conditions of Draft Approval usually apply to all the lands subject of the
subdivision application, and identify the Owner's responsibility financially and otherwise
prior to receiving Final Approval and registering the whole, or a phase of the
development. The Owner is required to enter into an agreement with the Municipality of
Clarington to implement the conditions. More recently a condition of approval states that
draft approval lapses if the Owner does not receive Final Approval within three (3) years.
For larger plans of subdivision once Final Approval is issued it may take a number of
years to register the various phases.
Proposed Change
Given the dispersed nature of development in Clarington across three main urban areas
and concerns with financial impacts of growth, it is recommended that in certain
instances, where the projected development timeframe is over a long period of time, the
Municipality may determine only partial draft approval of an application at the conclusion
of the circulation and review process. The area of a plan of subdivision which is draft
approved may be limited based on the Municipality's ability to finance municipal
infrastructure required for the development within a reasonable time frame. This will
mean that phasing plans for individual applications could be used to provide boundaries
or limits for draft approval.
The Municipality is required to only have a 3-year supply of draft approved or registered
lots. Approving plans of subdivision too far in advance of their anticipated development
time reduces the Municipality's flexibility in adjusting to new trends and requirements
(eg. after 2015, up to 40% of all new development will have to be within the "built
boundary").
REPORT NO.: FND.007-08
PAGE 8
6.3 Subdivision Agreements
Current Practice
In Clarington, since the late 80's, the Municipality developed a comprehensive master
subdivision agreement intended to encompass all the lands within the Draft Approved
Plan of Subdivision. This practice was adopted at a time when there were less concern
about the financiai impacts of development and more concern for ease of administration
of the agreement process. However, development of larger subdivisions usually occurs
in phases through the registration of M-Plans. The registration of M-Plans is usually at
the discretion of the Owner provided he complies with the provisions of the subdivision
agreement and conditions of draft approval. Moreover, for large development projects
like Aspen Springs or the Port of Newcastle, there were numerous amendments to draft
approval to address market changes and other concerns. Typically phases are
registered in accordance with the owner/builder's schedule and this triggers works for
the Municipality.
More recently where the Municipality was required to finance infrastructure needed to
support planned development, the conditions of draft approval often included a condition
that said:
"This development may proceed at such time the Council of Municipality of Clarington
has approved the expenditure of funds for [the details of the project describedj"
While these provisions made explicit the link between proceeding to registration of a
draft plan of subdivision and the capital budget program, it did not fully address the
complexity of very large plans of draft plans of subdivision now in front of the
Municipality. Additionally, given the financial impacts of growth on the Municipality, this
process could be strengthened.
Proposed Change
It is proposed that a separate subdivision agreement be prepared for each M-Plan
reflecting a phase of development for the larger draft plans of subdivision. This will allow
the Municipality to better link the registration of phases of draft plans with the specific
works required and the capital budget process,. This will assist the Municipality in
having greater control over its capital budget program and the timing of final plan
approval and registration. This practice is currently being used by other municipalities
within Durham, including the Region.
As a transitional measure, it is recommended that any application where the proponent
has notified the Municipality of their intent to enter into an agreement and where the
requisite fee has been paid, the Municipality would continue to prepare one agreement
with the appropriate phasing plan, if any.
REPORT NO.: FND-007-08
PAGE 9
6.4 Phasing Plans.
Current Practice
Municipal staff will often request a phasing plan to be prepared where there is some
concern about the co-ordination of capital works. However in many cases, no phasing
plans have been required since a draft plan of subdivision was sequential to existing
deveiopment or adjacent to another draft approved plan of subdivision. This has left the
landowner to determine the phasing of each draft plan of subdivision. Consequently, in
certain situations the capital works program has not been able to keep up with the
phasing of development.
Proposed Change
It is proposed that applications for proposed Draft Plan of Subdivision encompassing
larger tracts of land (greater than 100 units) be required to submit a phasing plan for
approval by the Municipality. The phasing plan shall identify, among other things, how
the development may proceed in consideration of infrastructure requirements. This
Phasing Plan would be prepared at the start of the application review process rather
than part way through as issues are identified.
7.0 CONCLUSIONS
7.1 Staff will prepare separate reports with recommendations dealing with the applications
that triggered this study. The recommendations of the Financial Impact Analysis
provide a tool in reviewing the applications reiative to the growth management
objectives. In preparing specific recommendations for each of the applications the
Municipality will continue to rely on the deveiopment charges background studies and
Official Plan policies to manage future growth.
7.2 This means that applications that will be reviewed in a favourable light are those where:
. development is sequential to existing growth and services and able to take
advantage of existing infrastructure;
. capital works and services required to service the lands within the Municipality's Ten
Year Growth Area will be given priority. In some cases the area to be developed
prior to 2014 may need to be adjusted based on changing commitments to services
beyond the Municipality's controi (i.e. regional servicing);
. by implementing a more controlled draft approval and registration process, the
development is not expected to create a negative fiscal impact on the Municipality;
and
. Council is of the opinion that the Municipality's administrative and financial resources
are sufficient to provide an adequate level of services for those residents who would
be accommodated in the proposed plan of subdivision as well as to provide and
maintain an adequate level of services for existing residents and residents who will
live in developments which have been approved by the Municipality.
The approval of the expenditure of funds for growth related projects is subject, however,
to the approval of Council through the annual budget process and must also consider
non-residential development priorities.
REPORT NO.: FND-007-08 PAGE 10
7.2 In addressing the five development areas that triggered this study the Wilmot Creek
Phase 8 is not identified to have a negative financial impact. The Northglen proposal is
identified as having land and infrastructure at least in part being developed prior to 2014.
This is also likely for the North Newcastle proposal as a result of a change to regional
servicing constraints since the 2005 Development Charges Background Study was
undertaken. Some of the remaining applications may be considered premature. All five
proposals will require further discussion with the individual proponents and in some
cases, may be the subject of negotiation to mitigate financial impacts and/or timing
constraints prior to future reports dealing with their applications.
Attachments:
Attachment 1 – Financial Impact Analysis of New Development – February 2008
List of interested parties to be advised of Council’s decision:
Nick Mensink, Sernas Associates
Bob Annaert, D.G. Biddle Associates Ltd.
Kelvin Whalen, Kaitlin Group Ltd.
Kevin Tunney, Tunney Planning Inc.
Roslyn Houser, Goodmans
Bob & Rick Schickendanz, Far Sight Investments Ltd.
Peter Schut, Brookfield Homes
Bruce Fischer, Metrus Properties Inc.
Peter Nundy, Region of Durham Works Department
Kirk Kemp
Rick James
Bryce Jordan, Sernas Associates
Darren Marks, Sernas Associates
Randy Grimes, IBI Group
Sharook Mansouri, Liza Development Corp.
Hannu Halminen, Halminen Homes
Vincent Walsh, Liberty Mutual
Ron Worboy
Robert Carruthers
Colin McLachlan
Wayne Hancock
Ron Hawkshaw
Cora Tonno
Tom Abani
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T (905)623-3379 F (905)623-4169
Attachment #1
FINANCIAL IMPACT
ANALYSIS OF
NEW DEVELOPMENT
Municipality of Clarington
HEMSON Consulting Ltd.
February 2008
L)16
TABLE OF CONTENTS
palJe
INTRODUCTION ............................................... 1
A. The Overall Fiscal Impact of Six Development Proposals
Is Analysed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 2
B. A Fiscal Impact Analysis Has Been Undertaken Using
Five Growth Scenarios ........................................ 3
II RESIDENTIAL GROWTH IN CLARINGTON ........................... 5
A. Recent Building Activity in Clarington Shows
Steady and Sustained Growth. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 5
B. DC Study Growth Forecast Remains Sound and Defensible ............ 6
C. Development Proposals Would Dramatically Increase Growth
In the Short Term ............................................ 8
III FIVE DEVELOPMENT SCENARIOS HAVE BEEN TESTED................. 11
A. Base Case . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 11
B. Development Scenarios ...................................... 11
IV FISCAL IMPACT ANALYSIS APPROACH AND METHODOLOGY. . . . . . . . '. 13
A. Modified Average Cost Approach Is Appropriate for the
Fiscal Impact of Development ................................. 13
B. Cost/Revenue Allocation Methodology. . . . . . . . . . . . . . . . . . . . . . . . . .. 14
C. Growth-Related Capital Programs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 16
D. Revenues Will Largely Be Derived from Property Taxation. . . . . . . . . . .. 17
E. Some Variables Have Been Held Constant ................. . . . . . .. 18
V FISCAL IMPACT ANALYSIS RESULTS............................... 19
A. Tax Levy Impact. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 19
B. Typical Household Impact .................................... 20
C. Development Charge Reserve Funds Impact. . . . . . . . . . . . . . . . . . . . . " 20
D. Debt Level Impact .......................................... 21
VI KEY FINDINGS AND RECOMMENDATIONS..... ...... . ...... ....... 22
A. Key Findings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 22
B. Recommendations.......................................... 23
APPENDICES
REMSON
1517
INTRODUCTION
Clarington is a municipality with a population of 78,000 situated at the eastern edge of
the Greater Toronto Area (GTA). It incorporates three distinct urban
communities-Bowmanville, Courrice, and Newcastle-separated by large rural areas
containing several smaller communities.
In 2005 the Municipality passed its current development charges by-law. The
development charges imposed by the by-law were based on a Development Charges
Background Study (DC Study) which established growth forecasts for the Municipality
to 2031 as well as a capital program to service the forecast growth. Since the by-law was
passed the Municipality has received a number of proposals from developers seeking to
advance development at a rate faster than what was anticipated under the DC Study.
Several large scale proposals that relate to residential neighbourhoods in and around
Bowmanville and Newcastle cannot currently be accommodated under the capital
forecast prepared for the DC Study. This is because the developments they propose
would either exceed the Municipality's population and housing targets for those
neighbourhoods or accelerate growth beyond the Municipality's ability to service the
subject lands. In many cases amendments to the Official Plan are required to allow these
proposals to proceed.
Large scale development proposals can require significant public investment. Therefore,
the Municipality also needs to understand what the long term revenue and expenditure
impact of the proposed developments would be before they are approved. Section 5.3.8
of the Official Plan provides for a fiscal impact analysis to be undertaken for large scale
developments. Accordingly, staff of the Municipality has recommended, and Council
has supported, that the proposed developments undergo additional review and
consideration, including:
That the applicants be required to undertake a Financial Impact Analysis to address the
impacts of these proposals on the MuniciPality.
HEMSON
1518
2
In 2007 Hemson Consulting Ltd. was retained by the Municipality to undertake the
fiscal impact analysis. This report presents the analysis results.
A. THE OVERALL FISCAL IMPACT OF SIX DEVELOPMENT PROPOSALS IS ANAL YSED
Fiscal impact analysis is a well established tool for quantifying the public cost of private
development and is widely used in North America. The aim of the analysis for
Clarington is to provide the Municipality with the information it needs to make
decisions on how to best manage growth across its entire jurisdiction. To that end the
analysis quantifies the overall impact of selected large scale development proposals
rather than the individual impact of anyone proposal. Also, the analysis has been
conducted in the context of overall growth in the Municipality.
The development proposals that are the focus of the fiscal impact analysis are shown in
Table 1. The number of housing units associated with the proposals and the timing of
construction have been provided by the developers and have been reviewed by the
Municipality. Exhibit 1 shows the location of the proposed developments.
TABLE 1
Name Developer Community # of Units Timing
B rookh i /I West Diamond Properties Bowmanville 1,613 2009 - 2017
Ltd. and Players Business
Park Inc.
Northglen Northglen Neighbourhood Bowmanville 1,940 2009 - 2031
landowners Group
Darlington Mills Far Sight Investment ltd. Bowmanville 470 2009 - 2016
(Shickadanz)
Port Darlington The Kaitlin Group Bowmanville 1,175 2010-2018
Wilmot Creek, Ridge Pine Park Inc. Wilmot Creek 340 2009 - 2018
Phase 8 Retirement
Community
North Newcastle Smooth Run Developments Newcastle 1,727 2009 - 201 6
Village (Metrus) and Brookfield
Homes (Ontario) Ltd.
REMSON
1519
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Under the 2005 DC Study the vast majority of residential growth in the
neighbourhoods to which the proposed developments relate was anticipated to occur
between 2015 and 2031. The Wilmot Creek Phase 8 proposal is unique in that it is
located beyond the existing urban boundary and was not contemplated at all within the
2031 planning period. Under the development proposals the majority of residential
growth in the subject neighbourhoods occurs between the period 2009 and 2014.
B. A FISCAL IMPACT ANALYSIS HAS BEEN UNDERTAKEN USING FIVE GROWTH
SCENARIOS
The fiscal impact analysis makes use of a long term financial planning model developed
by Hemson and refined for this assignment. The model uses publicly available base data
(e.g. 2007 budgets, tax rate by-laws) and projects the impact of growth on assessment,
expenditures, revenues and tax rates in Clarington to 2031. In addition, the model
allows for sensitivity testing under different growth scenarios. Five growth scenarios
have been tested as part of the analysis.
The report is divided into five sections:
Section II discusses growth trends in Clarington. Recent and historic growth in the
Municipality, as well as the growth forecasts used in the 2005 DC Study, are
described. In addition, the impact of the six development proposals on growth is
assessed.
Section III provides details on the five growth scenarios used in the analysis.
In Section IV the structure of the fiscal impact models and the assumptions that
underpin the model inputs are described. The approach and methodology used in
the analysis is also discussed.
The results of the analysis are presented in Section V.
Section VI summarizes the key findings of the analysis and includes a summary of
recommendations for maintaining the fiscal health of the Municipality.
REMSON
1521
4
It should be noted that fiscal impact analysis is a useful indicator only of the relative
impact of growth on the Municipality. The analysis is not prescriptive of the long term
fiscal health of Clarington under a given growth scenario and should not therefore be
compared to a municipal budget exercise.
HEMSON
1522
5
II RESIDENTIAL GROWTH IN CLARINGTON
This section contains an analysis of recent and historic residential growth in Clarington.
The population and housing growth forecasts adopted under the Municipality's
development charges by-law are also discussed. Finally, the housing unit estimates
proposed for the six proposed developments are assessed.
A. RECENT BUILDING ACTIVITY IN CLARINGTON SHOWS STEADY AND
SUSTAINED GROWTH
In general, residential building activity in Clarington has remained steady over the last
ten years. Almost 90 per cent of all new units constructed in the period were located in
the three urban communities of Bowmanville, Courrice, and Newcastle, with
Bowmanville accounting for about 50 per cent of all unit growth. Residential building
permits issued across the Municipality since 1998 are provided in Table 2.
Table 2 shows that residential unit construction in the Municipality has fluctuated
considerably since 2003, from a peak of 1 ,015 units in 2004 to a projected low of about
660 units in 2007. The variation in units from year to year is substantial and no one year
provides a reliable indicator for long term trends. Bowmanville has increased its share
of annual growth in recent years to about 60 per cent. In 2006 and 2007 its share of
overall growth reached 70 per cent. The community typically draws between 400 and
600 permits per year.
Newcastle has maintained an approximately 15 per cent share of residential growth in
Clarington over the last decade. In recent years the community has drawn about 130
residential permits annually; 2004 and 2005 were peak years when 191 and 202 permits
were drawn respectively. In the past two years growth has slowed considerably in
Newcastle, to 84 units in 2006 and 63 projected units for 2007. This has occurred in the
context of a slowdown in residential growth across the entire Municipality in the past
year.
HEMSON
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B. DC STUDY GROWTH FORECAST REMAINS SOUND AND DEFENSIBLE
The Development Charges Act requires that when calculating development charges a
forecast of the quantum, location, and timing of growth be made. Accordingly, the 2005
DC Study included two residential growth forecasts:
· a 10 year forecast (2005 to 2014) of population and housing for the entire
Municipality. This forecast was used ro calculate Municipal-wide development
charge rates for the general services which the Municipality provides.
· a long term forecast to 2031 for the purposes of calculating Municipal-wide
development charge rates for the roads and related service. The long term
forecast was to build out of all urban residential designated land in Clarington.
Maps were included in the DC Study which identify the anticipated location and timing
of development lands together with the major capital works that would be required to
service the lands as they became developed. The maps for Bowmanville and Newcastle
are reproduced in Appendix A. The 'pink' areas on the maps show lands thar are
anticipared to be developed in the 10 year planning horizon ro 2014. The 'blue' areas
relate to lands that are anticipated to be developed between 2015 and 2031. Areas
which are coloured yellow are already developed but may accommodate some growth
through infilling. Areas which are not to be developed are coloured green and areas
which fell outside the urban boundary have been left white.
1. Municipal-wide Forecasts
Table 3 summarizes the DC Study residential growth forecasts for the entire
Municipality.
TABLE 3
Mid-2004 10 Year Forecast Long Term Forecast Build Out
Population (2005 - 2014) (2005 - 2031) Population
Population 74,822 21,820 68,545 143,367
Papin in New Units 29,238 89,582
Households 25,558 9,341 28,620 54,178
REMSON
1525
7
2. Community Forecasts
In Table 4 the growth forecasts for each of Clarington's urban communities that form
the basis of the DC Study forecasts are displayed. The table shows that under the DC
Study Bowmanville was forecast to add between 400 and 600 residential units per year
to 2009 and about 400 units per year thereafter to 2019. Between 2020 and 2031 the
forecast for Bowmanville was for about 600 units per year. The DC Study forecast had
Newcastle adding about 50 units per year to 2009 before rising to about 200 units per
year between 2009 and 2014 and to about 400 units per year between 2015 and 2019.
Growth was forecasr to slow in Newcastle to about ISO units per year until build out in
2031.
A comparison of the recent residential consttuction activity in Clarington shown in
Table 3 with the DC Study forecasts shown in Table 4 demonstrates that overall the
DC Study forecasts are sound. However, the following points are noted:
. the DC Study may have overestimated overall growth in the Municipality.
Clarington has experienced between 800 and 850 units per year since 2005.
This is short of the 930 units per year anticipated under the 10 year forecast.
· in the context of lower overall growth, Bowmanville has achieved relatively
high growth and Courtice relatively low growth. Growth anticipated in
Courtice under the DC Study may have been displaced to Bowmanville in
recent years.
. the DC Study establishes forecasts based on average annual projections of
population and residential unit growth. It is anticipated that the actual annual
level and location of growth will fluctuate during the 10 year and long term
planning periods.
REMSON
1526
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C. DEVELOPMENT PROPOSALS WOULD DRAMATlCALL Y INCREASE GROWTH IN
THE SHORT TERM
The phasing plans for rhe six proposed developments are provided in Table 5. The plans
have been submitted by the subjecr developers and have been reviewed by Municipal
staff.
Table 6 compares the housing unit estimates in the DC Study growth forecasts to those
in the development proposals for each of the neighbourhoods to which the proposals
relate. The table shows that the development proposals increase the total number of
units forecast in the neighbourhoods under the DC Study from 6,044 units to 7,265
units. More importantly, under the DC Study almost 92 per cent (5,532) of the 6,044
units were to be constructed after 2014. Under the development proposals more than
60 percent (4,363) of the units are to be constructed before 2015 and about 10 percent
(699) are to be constructed before 2010. Given that the DC Study forecast only
projected 9,341 units for the entire Municipality between 2005 and 2014 the
development proposals would dramatically accelerate growth in Clarington in the short
term.
The table does show that, under the DC Study, parts of the proposed developments
(including a significant part of Brookhill) fall into the 'pink' area. However, for the
most part the six subject development proposals relate to lands in the 'blue' area. They
are therefore not anticipated to develop until after 2014. Under its current growth-
related capital program the Municipality is already planning to service the entire pink
area to 2014. Accelerating growth from the blue area to the pink area would thus
require the Municipality to make significant capital investments over and above what
has already been committed.
Should the proposed developments be allowed to proceed, part of the cost of the
additional investment could be recovered through development charges. However, as
shown earlier, the Municipality's current development charge rates have been set on the
basis that the subject developments occur only after 2014. The rates would therefore
almost certainly have to be recalculated based on a more aggressive growth forecast and
growth-related capital program.
From a fiscal perspective, adopting a significantly larger growth-related capital program
can carry enormous risk for the Municipality. The Municipality relies on development
REMSON
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1529
I
TABLE 6
MUNICIPALITY OF CLARINGTON
FISCAL IMPACT ANALYSIS OF NEW DEVELOPMENT
COMPARISON OF PROPOSED DEVELOPMENTS WITH DC STUDY GROWTH FORECAST
Residential Unit Growth to 2031 Total
2005 - 2009 2010 - 2014 2015-2019 2020 - 2031 2005 - 2031
BROOKHILL
Proposed by Developers 250 1,050 313 - 1,613
2005 DC Forecast 7 425 256 890 1,579
PORT DARLINGTON
Proposed by Developers - 600 575 - 1,175
2005 DC Forecast 7 11 435 316 768
DARLINGTON MILLS
Proposed by Developers 60 300 110 - 470
2005 DC Forecast - - 470 - 470
NORTHGLEN
Proposed by Developers 100 500 425 915 1,940
2005 DC Forecasl 7 52 816 558 1,433
WILMOT CREEK
Proposed by Developers 34 170 136 - 340
2005 DC Forecast - - - - -
NORTH NEWCASTLE VILLAGE
Proposed by Developers 255 1,044 428 - 1,727
2005 DC Forecast 2 3 873 917 1,795
TOTAL
Proposed by Developers 699 3,664 1,987 915 7,265
2005 DC Forecast 22 491 2,850 2,682 6,044
HEMS ON
1530
Note: Darlington MHls DC und projections included in forecast for Vincent Massey neighbourl1ood.
9
charge revenue to pay for a large share of the capital program. Should development
occur at a slower rate than anticipated by the growth forecast this revenue would be
insufficient to pay for the capital works in the program. In such cases the Municipality
would be left with capital infrastructure that is oversized as well as significant additional
operating costs.
Determining whether Clarington can accommodate a higher rate of growth than
anticipated under the DC Study, and a correspondingly larger growth-related capital
program, is a challenge. Any forecast of future growth must, at a minimum, consider the
following:
· That control over land supply allows the Municipality to plan effectively for growth.
The DC Study growth forecasts were based on the potential housing unit
supply on lands designated for development in 2005. Thus, the Municipality
currently has a supply of land either draft approved or registered for
subdivision to achieve the 10 year growth forecast under the DC Study.
Allowing the subject development proposals to proceed would dramatically
increase the supply of designated land in Bowmanville and Newcastle that
receive full municipal services. Some developers of the proposed developments
have argued that land supply constraints in the two communities are
responsible for the slower than anticipated growth in the Municipality since
2005. Removing these constraints would, in their view, result in high growth
in those areas where the constraints exist.
· Tlwt housing demand in Clarington would not necessarily result in higher overall
growth in an unconstrained land supply scenario. Determining the demand for
housing in Clarington is critical when deciding whether to increase the supply
of serviced land. Given recent activity it would appear that demand for
housing in Bowmanville and Newcastle is not high enough to warrant a major
expansion of municipal services into these communities. There is little
indication that growth on lands that are advanced into the pink areas from
the blue would be incremental, that is over and above growth anticipated for
the existing pink areas. Rather, recent building activity suggests that growth
on the lands that are advanced would displace growth that is anticipated for
the existing pink areas.
REMSON
1531
10
The Municipality can influence the land supply in Claringron by controlling when and
where municipal services to housing developments are fa be provided. It has little power
(or authority) to control housing demand, because demand in Clarington is dependant
on market forces which are influenced by rhe wider economics of the GT A and the
Province.
That said, given the uncertainties about future housing demand in Clarington, a
number of growth scenarios have been tested as part of rhis analysis. The scenarios are
described in detail in the following section.
HEMS ON
1532
11
1/1 fiVE DEVELOPMENT SCENARIOS HAVE BEEN TESTED
So that a reasonable range of growth patterns can be tested under the fiscal impact
analysis five residential growth scenarios have been defined. A Base Case scenario tests
the fiscal impact of the growth forecast established under the DC Study. The remaining
four scenarios consider the effects of allowing the six subject development proposals to
proceed. The five scenarios are described in detail below.
A. BASE CASE
Under the Base Case scenario growth is assumed to occur as forecast under the DC
Study. Under this scenario the Municipality achieves 934 new units per year to 2014
when build out of the pink area is reached. The Municipality currently has a supply of
draft approved or registered lands to achieve this growth. This supply does not include
the vast majority of the lands relating to the subject development proposals.
The Municipality's growth-related capital program under the Base Case is consistent
with the program adopted under the DC Study. Capital costs identified in the DC Study
have been inflated to 2007$ using the same cost index used to inflate the Municipality's
development charge rates. 1
B. DEVELOPMENT SCENARIOS
The four development scenarios assume that the subject development proposals are
allowed to proceed and that construction of the units in the developments occurs
according to the submitted phasing plans. No additional urban lands are designated in
Clarington beyond those identified in the DC Study under any of the four scenarios
with the exception of the lands associated with Wilmot Creek. The costs of capital
works required to service the proposed developments have been updated with input
from the developers.
1 Costs have been indexed at a mee of 15.1053% (Non-residential cpr (Toronto);''.qr. 2005 _ 2"" qr. 2007).
HEMSON
1;;33
12
The main variables between the development scenarios are the timing of development
and the timing of municipal capital works. The growth forecasts for each of the
scenarios are given in Table 7. They are displayed graphically in Exhibit 2.
In Scenario 1 growth in the subject development land is fully incremental, that is it
occurs over and above growth anticipated under the DC Study. Overall growth in the
Clarington remains consistent with the Base Case until 2009 when it accelerates
dramatically to about 1,500 units per year until 2014. Growth then declines steadily to
2019 before beginning a slow rise to 2031 at the same rate as the Base Case.
Under Scenario 1 long term growth in Clarington is displaced to the short-term due to
land constraints that develop at about 2019. Build out of urban designated land in the
Municipality occurs in 2031.
Scenario 1 assumes a considerable latent demand for housing in Clarington that would
in the space of a few years result in a near doubling of the amount of residential growth
in the Municipality. The scenario should therefore be considered highly unlikely.
Under Scenarios 2, 3 and 4 the growth trend in Clarington follows the Base Case
forecast over the entire planning period to 2031. Only the rate of growth varies:
· at 10 per cent below the Base Case rate in Scenario 2, with build out
occurting after 2031.
· at 20 per cent above the Base Case rate in Scenario 3, with build out
occurring in 2027.
· at the Base Case rate in Scenario 4, so that build out remains at 2031.
Note that all four development scenarios allow for lands related to the subject
developments to develop and be part of the land supply. The Municipality is therefore
obligated to make capital investments to service these lands under all the development
scenarios.
The aim of the fiscal impact analysis is to provide the Municipality with a measure for
comparing the fiscal impact of the various levels of residential development in each of
the five growth scenarios. The analysis approach and methodology are described in the
following section.
REMSON
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13
IV FISCAL IMPACT ANALYSIS APPROACH AND
METHODOLOGY
This section describes the structure of the fiscal impact model and the assumptions that
underpin the model inputs. It also discusses the approach and methodology used in the
analysis. A summary of the overall findings of the analysis is provided. Detailed results
are provided in the appendices.
A. MODIFIED AVERAGE COST APPROACH IS APPROPRIATE FOR THE FISCAL
IMPACT OF DEVELOPMENT
Municipal fiscal impact models are used to estimate the impact of new development on
municipal expenditures and revenues. The most detailed type of model predicts, on a
service by service basis, the capital and operating costs that are likely to result from the
development of large planning areas and over long periods of time. The model
developed to assess the impact of the five growth scenarios in Clarington employs a high
level of detail. It allows for adjustments to be made to individual cost components (e.g.
salaries, wages and benefits) within individual municipal service functions (e.g.
Emergency Services, Roads and Related).
The modified average cost approach used in the model allocates revenues and
expenditures on an average cost basis between residential and non-residential
development. Average costs are the costs of providing services expressed on a per capita
basis (for costs allocated to residential development) or a per employee basis (for costs
allocated to non-residential development). Under this approach, average costs are
estimated for municipal services for which growth creates a need. The average costs are
modified, on a service by service basis, to reflect the sensitivity of each service to new
development. Operating cost impacts are then calculated for each service within the
Municipality under each growth scenario.
In addition, the analysis accounts for capital-induced operating costs. These are
operating costs triggered when a new municipal facility, a library for example, is
constructed or expanded. A capital program has been developed for each growth
scenario based on current service levels provided in the Municipality.
HEMS ON
1537
14
The analysis also accounts for increases in non-tax revenues. Thus, user fees and charges
as well as gtants and subsidies have been examined on a service by service basis as well
as by source, and have been adjusted to reflect each revenue stream's sensitivity to
growth. The service-specific revenues are deducted from expenditures, on a service by
service basis, to yield net expenditures.
An allowance for capital costs funded from taxes (tax-supported capital costs) is also
built into the analysis. These costs are annual transfers to capital funds and reserves and
are calculated based on the percentage of current net expenditure related to capital
transfers. A capital from current allowance of 15 per cent of additional net operating
expenditures is built into the analysis. In addition to the 15 per cent allowance, the
analysis accounts for the funding of shares of the growth-related capital program that
cannot be recovered through development charges.
B. COST/REVENUE ALLOCATION METHODOLOGY
In the fiscal impact model, Municipal operating expenditures and revenues were
allocated between the residential and non-residential sectors based on estimated levels
of use or benefit. Additional base operating expenditures were then calculated on an
average cost basis. Capital induced operating costs, a capital from current allowance,
and non-development charge recoverable capital costs were also calculated. Details on
the cost allocation methods are provided below.
1. Allocation of Costs & Non- Tax Revenues: Residential and Non-Residential
Most 2007 budgeted expenditure and non-tax revenue was allocated between the
residential and non-residential sectors based on proportionate shares of population and
employment (adjusted if actual usage was known). Services such as the Public Library
and Community Services were allocated entirely to residential uses because the need
for these services is driven by residential development.
2. Determination of Operating Cost Impacts
Current expenditures and non-tax revenues were then translated into average operating
costs per capita (for costs allocated to the residential sector) or per employee (for costs
allocated to the non-residential sector).
The average costs per unit were then modified, on a service by service basis, to reflect
the sensitivity of each service ro new development. Some municipal services, like
REMSON
1538
15
Emergency Services, are highly sensitive to growth and their costs will increase in direct
proportion to the increase in new development. Services which have relatively fixed
costs, like Council, are less sensitive to new development. As such, the rate of increase
in expenditures for these services will be less than the prevailing average service
delivery costs.
In addition, the analysis provides for capital-induced operating costs that result from
having to staff and operate facilities such as new fire stations, community centres and
libraries, as well as having to maintain parkland and roads that are added as the
Municipality grows.
The additional operating costs are summarized as follows:
i. Additional Base Operating Net Tax levy Supported Expenditures
These increase in line with population and employment growth and are
calculated using 2007 operating budget expenditures net of service-specific
revenues:
.
population growth:
employment growth:
$121.93 per capita
$115.57 per employee
.
ii. Capital Induced Operating Impacts
These are operating costs related to new facilities added to maintain service
levels and are triggered when a facility/infrastructure becomes operational.
The costs are based on separate growth-related capital programs that have
been developed for each growth scenario. The Base Case uses the same
program established in the 2005 DC Study. All capital costs in the growth-
related capital programs have been inflated to 2007$.
3. Determination of Capital Cost Impacts
It is assumed that the Municipality will continue to recover a large portion of its
growth-related capital program through development charges. For the purposes of the
analysis current (2007) development charge rates have been held constant over the
planning period. Capital costs which are funded through the property tax levy are also
built into the analysis. These costs include:
REMSON
1539
16
i. Capital from Current Allowance
These costs, which represent annual capital transfers to reserves, have been
added at a rate of 15 per cent of additional base operating costs and capital
induced operating costs.
ii. Non-Development Charges Recoverable Cost
Provision is made fot the recovery of the share of growth-related costs not
recovered from development charges. They largely relate to the 10 per cent
discounts on future growth related capital works for general services mandated
by the Development Charges Act. The costs are assumed to be recovered from
the property tax levy.
iii. Additional Capital Costs
These are capital costs that relate to general services infrastructure beyond
2014, that is beyond the 10 year growth related capital program for those
services established under the OC Study.
The allocation assumptions and the calculation of tax supported capital and operating
cost impacts by service, as well as detailed results for each growth scenario, are
contained in Appendix B.
C. GROWTH-RELATED CAPITAL PROGRAMS
Under the Base Case the growth-related capital program remains that which is
contained in the DC Study (with costs inflated to 2007$). The timing and cost of
capital works has been updated for the four development scenarios in consultation with
the subject developers and Municipal staff. The ten year capital program for the general
services in the DC Study has been extended to 2031.
The cost and timing of roads and related capital works that relate to the subject
development proposals have also been updated in consultation with the subject
developers and Engineering staff at the Municipality. The growth-related roads capital
programs for each of the proposed developments under the growth scenarios are
provided in Appendix C.
HEMSON
1540
17
D. REVENUES WILL LARGELY BE DERIVED FROM PROPERTY TAXATION
Regardless of how growth proceeds in Clarington, the major source of future Municipal
revenue will be property taxes. To estimate future tax revenues, assessment levels for
new residential units were estimated using current average assessments for residential
units sold in recent years. Table 8 shows the average per unit assessment values used for
each of the new residential unit types:
TABLE 8
Bowmanville Newcastle
Low Density $245,000 $270,000
Medium Density $200,000 $200,000
High Density $140,000 $140,000
Weighted Average $230,000
N on-residential assessments were determined using an estimated assessment value per
additional square foot of floor space. The estimates were based on prevailing
assessments, building sizes (gross floor area or gfa) and typical floor area needs per
employee throughout the Municipality. They are as follows:
Commercial and Institutional Land Uses
Industrial Land Uses
$800 per m2
$650 per m'
The model also accounts for tax revenue reductions caused by the development and
redevelopment of land within the Municipality and through development of the lands
relating to the subject developments.
The added assessment under each growth scenario, as well as the calculations used to
determine the assessment estimates, are provided in Appendix D.
REMSON
1541
18
E. SOME VARIABLES HAVE BEEN HELD CONSTANT
So that a comparative analysis of the results can be made, the fiscal model holds
constant a number of variables that are likely to change over the planning period. For
example:
. All values (expenditures, revenues and assessment values) are held constant
in 2007$ with no adjustment for inflation. Inflation will occur and will have
a fiscal impact on the Municipality. However, the impact would be the same
under all the scenarios. Not adjusting for inflation allows for a comparative
and equitable evaluation of the results.
· Current service delivery responsibility and service levels are maintained.
These service levels are consistent with the Municipality's historic service
levels (as documented in the DC study) and the analysis is not based on
significant changes. Over time, the Municipality may be required to provide
a different mix of services than it does today or may choose, or be required, to
provide services at a different level or quality. Service delivery and service
level changes have a fiscal impact on the Municipality but are not directly
affected by the form or scale of growth.
. Providing for the long-term maintenance, repair and replacement of
infrastructure and facilities is a growing fiscal concern for most municipalities.
In Clarington, provisions for asset management have begun. However, a
higher proportion of capital transfers from current will likely be required to do
more over the coming years regardless of how Clarington grows.
Growth will contribute to this issue both by providing a larger assessment base
to fund the asset management reserve requirement and by requiring the
Municipality to add infrastructure and facilities to meet the service needs of
the new residents and employees. Evidence in other jurisdictions suggests that
fast growing municipalities that establish a long-term asset management plan
and reserve fund adequacy policies are better positioned to deal with times of
fiscal pressure than slow growth or declining municipalities.
This fiscal analysis does not include additional asset management
contributions beyond the Municipality's current practices.
HEMS ON 1542
19
V FISCAL IMPACT ANALYSIS RESULTS
In this section of the report, the results of the fiscal impact analysis are presented. The
fiscal impact of residential growth under the five growth scenarios on the Municipality
is discussed in the context of:
A. Tax Levy
B. Typical Household
C. Development Charge Reserve Funds
D. Debt Level
The results are shown annually for the period 2008 to 2031.
Before discussing the results, it warrants restating that they should be used for
comparative purposes and should not be viewed as accurate predictions of what will
occur twenty-five years into the future. The main objective of this assignment is to
provide results that allow for the five growth scenarios to be compared. Detailed long-
term financial plans for growth are not provided for any scenario.
A. TAX LEVY IMPACT
Table 9 shows the impact on the property tax levy of each of the growth scenarios. The
impact is calculated by subtracting the total tax revenue in each year from total net
expenditure. This yields the net increase in the tax levy requirement. The additional
tax levy requirement is then divided by the total tax revenue to produce the percentage
increase in the tax rate required to fully fund the net expenditures.
The table shows that the Municipality will experience immediate pressure on its tax
rate, even under the Base Case. This pressure will continue throughout the planning
period. The pressure on the tax rates under the development scenarios is even greater,
in most years, than the Base Case. The tax levy requirement used to calculate the figures
in Table 9 is provided in Appendix D.
HEMSON
1543
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B. TYPICAL HOUSEHOLD IMPACT
In Table 10 the impact of each growth scenario on a typical household in Clarington
is displayed. The table provides the average annual household taxes, based on an
average assessed value of $230,000 and the change in taxes from 2007 over the entire
planning period.
As with the tax rate impacts above, Table 10 shows that on average property taxes
would rise immediately in the Municipality. This is true under all the scenarios, even
the Base Case, though the development scenarios exacerbate the fiscal problem.
It should be reiterated that the property taxes shown in Table 10 do not account for the
effects of inflation or of long-term maintenance, repair and replacement of
infrastructure requirements. Both will create fiscal pressure on future property taxes over
and above the impact created by growth.
C. DEVELOPMENT CHARGE RESERVE FUNDS IMPACT
Table 11 below provides an example of the impact of the growth scenarios on the
Municipality's development charges reserve funds, in this case the roads and related
reserve fund. The table demonstrates that this reserve fund already sits in a deficit
position in the amount of59.2 million. The deficit was anticipated under the DC Study
as a number of large road construction projects were identified in the early years of the
growth-related capital program. However, the development charge rates under the DC
Study were calculated so that the balance of the reserve fund was zero in 2031. The Base
Case now shows that, under current rates, a negative balance that approaches $37.7
million would result.
Table 11 also shows that even with the growth forecast under Scenario 1, which sees
a near doubling of residential construction activity in Clarington in the short term, a
negative balance of $23.8 million results in 2031. The other scenarios create even
greater fiscal pressures, with Scenario 2 resulting in a 2031 negative balance of $68.8
million and a lowest balance of $89.1 million.
HEMSON
1545
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TABLE 11 - Roads DC Reserve Fund Balance (OOO's of constant $)
Scenario Balance in 2007 Lowest Balance Balance in 2031
Base Case -$9,179 -$69,225 -$37,672
Scenario 1 -$9,179 -$62,216 -$23,808
Scenario 2 -$9,179 -$89,054 -$68,848
Scenario 3 -$9,179 -$61,205 -$27,224
Scenario 4 -$9,179 -$79,115 -$40,034
Maintaining this level of negative reserve fund balance is neither fiscally manageable
or responsible.
Projected development charge revenues, including detailed cashflow calculations of the
roads and related development charge reserve fund, under each scenario are provided
in Appendix E.
D. DEBT LEVEL IMPACT
Historically the Municipality has been able to operate with very low debt levels and
minimal annual debenture payments. Moreover, most current debt has been funded
from development charge revenues. The fiscal impact analysis demonstrates that, under
all of the growth scenarios, the Municipality will face increasing pressure to rely on debt
financing. Table 12 summarizes the annual debt payments under each scenario.
The figures in Table 12 relate only to funding of non-development charge recoverable
costs and therefore will require funding from the tax base. As shown, debenture
requirements increase under the Base Case and become higher under the development
scenarios.
REMSON
1547
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22
VI KEY FINDINGS AND RECOMMENDATIONS
This section summarizes the key findings of the anaylsis and makes recommendations
for maintaining the fiscal health of the Municipality. The overall impact of the
development proposals is discussed though no judgements about the merits of anyone
proposal is made.
A. KEY FINDINGS
The analysis of the fiscal impact of growth in Clarington has yielded some important
findings that will require the municipality to undertake certain actions and consider
modifying and enhancing policies dealing with the financing of growth.
The following is an overview of some of the key findings of the analysis:
· Growth does not fully pay for growth. As with all municipalities in the
Province, under the current DCA, new development does not fully pay for the
initial capital costs associated with expanding infrastructure to meet the
servicing needs of new development.
· The DCA legislated exemptions for certain services and the historic service
level funding cap are the two largest factors that impact a municipality's
ability to fund growth-related capital without negatively impacting existing
taxpayers. The services most adversely affected are the 'soft' services ofIndoor
Recreation and the Library Board. In addition, as the need for these services
is driven by the residential sector, development charges for these services are
largely funded by residential growth.
· Historically, Clarington has had lower levels ofIndoor Recreation and Library
Board services than comparable municipalities. In recent years the
Municipality has been improving its service levels in these areas with the
support of tax dollars and by implementing maximum permissible
development charges for these services.
HEMS ON
1549
23
· The fiscal impact analysis has clearly shown that the Municipality's current
development charges are too low and do not adequately fund the eligible
growth-related costs for which they are charges. The most significant funding
shortages are with respect ro the provision of roads and related infrastructure.
The largest contributing factor is that the cost of the roads projects are
significantly higher than was forecast in the 2005 OC Study. This finding is
consistent with that of many municipalities in Ontario as the development
charge inflation indexing has not kept pace with the actual increase in
construction costs.
· the Municipality's capital budget is strained and debt levels are set to increase.
Clarington has been experiencing significant growth and development and
has responded by expanding existing infrastructure and adding new facilities
and infrastructure. In addition, the Municipality is faced with meeting the
servicing needs of existing residents and maintaining existing assets.
. Growth, by way of new assessment, can assist in meeting the fiscal pressures
it creates but if the rate of growth is too rapid and the need for spending
capital monies to expand capacity is faster than the corresponding rate of
. assessment growth the Municipality will continue to experience pressure on
tax rates. The issuance of debt will provide some short-term mitigation of the
tax rate pressures but will result in long-term negative fiscal impacts. Accruing
debt may limit the Municipality's ability to respond to other capital spending
priorities and objectives, unanticipated spending needs, or a slow-down in
growth and the economy.
. The analysis has shown, and is corroborated by similar studies in other
jurisdictions, that Clarington faces additional growth-related fiscal challenges
as it strives to accommodate and service growth in three distinct and
geographically separate communities.
· Many of these findings are relevant to Clarington under any of the growth
scenarios tested under this analysis. However, allowing additional lands into
the current or short-term land supply will exacerbate the fiscal pressures
described above.
REMSON
1550
24
B. RECOMMENDATIONS
The results show that the Municipaliry of Clarington has a fiscal problem. The negative
impact of the Base Case on the Municipality's finances show that the problem is largely
the result of a rapid increase in the cost of providing services in recent years. However,
the problem will worsen should development be allowed to proceed at a rate faster than
anticipated under the 2005 DC Study. The six development proposals that are the
subject of this analysis wish to advance development in this way.
There are a number of ways to mitigate the fiscal problem. To that end the Municipality
should consider the following:
· development charge rates and policies should be reviewed immediately as the
current rates are not sufficient to recover the full cost of servicing growth in
the Municipality. The recent rise in capital costs needs to be incorporated into
the rates and a comprehensive review of the growth-related capital program,
especially for the roads and related service, needs to be made.
· as demonstrated earlier in Section II the 2005 DC forecast remains on target.
Nevertheless, in light of the development proposals submitted since 2005 the
Municipality may wish to review land supply and housing demand, either in
Clarington as a whole or in one or more of its communities, as part of any
development charges review.
. the Municipality should continue to rely on development charges background
studies and related planning policies to manage future growth. However, given
the fiscal pressures experienced in recent years the Municipality may wish to
consider mitigating the risk of expanding municipal services by entering into
cost sharing agreements with developers. Some municipalities in Ontario,
particularly those experiencing high rates of growth, regularly make use of
such agreements. In Clarington, where future rates of growth are less certain,
such agreements are not without risk.
· The fiscal impact analysis demonstrates that, under the Municipality's current
policies and practices, advancing development will have an overall negative
fiscal impact on the Municipality. It would obligate the Municipality to make
significant capital investments to facilitate residential development over and
above its current commitments. Even under a high growth scenario this course
HEMSON
1551
25
of action would increase the fiscal pressures facing the Municipaliry. It may
also jeopardize plans to advance non-residential development in Clarington.
HEMSON
1552
APPENDIX A
DC STUDY GROWTH FORECAST MAPS
1553
HEMSON
Muncipality of Clarington Development Charges Update
Map Legend
- - Street Light Installation
- Streetscape
- - 0 Recreational Trail
Future Community Facilities,
Parks and School
o District Park
. Community Park
. Neighbourhood Park
.! Elementry School
.tt Secondary School
~ Fire Hall
Existing Development Lands
D Existing Residential
fill Existing Non-Residential
Location and Timing of Development Lands
D 2005 to 2014 Horizon Period
D 2015 to Residential buildout (2031)
Location of Non-Residential Growth'
Public Works Projects Inlcuded In
Development Charge Calculatation
3 Intersection Improvements
~ Bridge Spanning Watercourse
e Grade Separation
8 Reconstruct Exist. Grade Separation
~ Level R.R. Crossing Improvements
D New Culvert
. Culvert Extension
. Culvert Oversizing
- Road Construction
- Sidewalk Construction
, ,
1__ J
Non-Developable
Residential Boundary
- - , Urban Boundary
. Timing and Amount of Non-Residential Growth to be
consistent with Development Forecast completed by
Hemson Consulting for the Development Charge Update
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1556
APPENDIX B
CAPITAL AND OPERATING COST IMPACTS
REMSON
. 1557
APPENDIX 8.1
MUNICIPALITY OF CLARINGTON
FISCAL IMPACT ANALYSIS OF NEW DEVELOPMENT
OPERATING COST IMPACT ASSUMPTIONS
Financial Data:
Actual: 2006
Budget: 2007
1. Population and Employment Ratios
2007
1. Population
2. Employment
Total
#
80,437
21,994
102,430
%
79%
21%
2.
Residential Units
2001
2007
23,380
28,003
3.
Estimated Non-Residential Space (2007)
Population Related Employment
Major Office Employment (over 20,000 sq. ft.)
Employment land Employment
Total
301,416 sq.m.
2,850 sq.m.
710,655 sqm
1,012,071 sq.m.
4. Residential and Non-Residential Cost Allocation
Residential Non-Res
1. General Government 79% 21%
2. Corporate Services 79% 21%
3. Emergency Services 79% 21%
4. Engineering 79% 21%
5. Operations 79% 21%
6. Community Services 100% 0%
7. Planning Services 79% 21%
8. library Services 100% 0%
Sensitivity
5. Growth Sensitivity Rating Weighting
Not Sensitive to New Growth 1 0%
little To No Sensitivity 2 25%
Partial Sensitivity 3 50%
High Sensitivity 4 75%
Full Sensitivity 5 100%
I ncrease Service level & Costs 6 110%
HEMSON
1558
APPENDIX 8.2.1
MUNICIPALITY OF CLARINGTON
FISCAL IMPACT ANALYSIS OF NEW DEVELOPMENT
SUMMARY OF OPERATING COST IMPACTS 8Y SERVICE - WITH PROPOSED DEVELOPMENT
GENERAL GOVERNMENT
Summary of Growth-Impact Expenditures
1 Mayor and Council
2. Administration
3. Clerks - Unassigned
4. Clerks - Administration
5 Clerks - Animal Services
6. Clerks - Municipal Law Enforcement
7. Clerks - Parking Enforcement
8. Clerks - Cemetery
9 Clerks - Fleet
10. Finance
11. Unassigned, Unclassified & Grants
12. Election
Total General Government
CORPORATE SERVICES
Summary of Growth-Impact Expenditures
1. Administration
2. Human Resources & PayrolJ
3. Communications & Marketing
4. Information Technology
5. Purchasing
6. Health & Safety
7. Physician Recruitment
Total Corporate Services
EMERGENCY SERVICES
Summary of Growth-Impact Expenditures
1. Administration
2. Fire Prevention
3. Fire Supression
4. Fire Training & Technical Support
5. Fire Communications
6. Fire Mechanical
7. AU Stations - Part Time Admin
8. Municipal Operations Centre
Total Emergency Services
ENGINEERING
Summary of Growth-Impact Expenditures
1. Administration
2. Building Inspection
3. Transit
4. Park Development
5. Street Lights
6. Road Maintenance ($0 in 2006 and 2007)
7. Fleet
Total Engineering
HEMSON
Residential Non-Residential
Per Capita Per Employee
$ 3.71 $ 371
$ 1.95 $ 1.95
$ (0.04) $ (004)
$ 2.62 $ 2.62
$ 1.41 $ 1.41
$ 2.37 $ 2.37
$ 0.67 $ 0.67
$ (1.70) $ (1.70)
$ 0.08 $ 0.08
$ 2.43 $ 2.43
$ 5.58 S 5.58
$ 0.25 $ 0.25
$ 19.31 $ 19.31
Residential Non-Residential
Per Capita Per Employee
$ 1.43 $ 1.43
$ 4.38 $ 4.38
$ 3.27 $ 3.27
$ 3.67 $ 3.67
$ 182 $ 1.82
$ 0.12 $ 0.12
$ $
$ 14.68 $ 14.68
Residential Non-Residential
Per Capita Per Employee
$ 7.70 $ 7.70
$ 1.95 $ 1.95
$ $
$ 0.55 $ 0.55
$ 1.86 $ 1.86
$ 068 $ 0.68
$ $
$ 0.17 $ 0.17
$ 12.90 $ 12.90
Residential Non-Residential
Per Capita Per Employee
$ 7.65 $ 7.65
$ (785) $ (7.85)
$ $
$ $
$ $
$ $
$ 005 $ 0.05
$ (0.16) $ (0.16)
1559
APPENDIX 8.2.2
MUNICIPALITY OF CLARINGTON
FISCAL IMPACT ANALYSIS OF NEW DEVELOPMENT
SUMMARY OF OPERATING COST IMPACTS BY SERVICE. WITH PROPOSED DEVELOPMENT
OPERA nONS
Summary of Growth-Impact Expenditures
1. Unassigned
2. Administration
3. Street Lighting
4. Parks
5 Cemeteries
6. Building & Property Services
7. Road Maintenance
8. Hardtop Maintenance
9. Loosetop Maintenance
10. VVinter Control
11. Safety Devices
12. Storm Water Management
13 Regional Roads
14 Fleet
Total Operations
COMMUNITY SERVICES
Summary of Growth-Impact Expenditures
1. Administration
2. Programs Admininstration
3 Facilities
4. Proshop
5. Concessions
6. Aquatic Programs
7. Fitness Programs
8. Recreation Programs
9. CIS Museum Programs
10 Other Cultural
11. Municipal Grants - Recreation Groups
12. Municipal Grants - Municipal Boards
13 Municipal Grants - Other
Total Community Services
PLANNING SERVICES
Summary of Growth-Impact Expenditures
1. Unassigned
2. Administration
3. Environmental
Total Planning Services
LIBRARY SERVICES
Summary of Growth-Impact Expenditures
1. Operations - Libraries
2. Community Services - Libraries
Total Library Services
Total Cost per Capita/Employee
HEMS ON
Residential
Per Capita
$ (1.03)
$ 7.07
S 2.63
$
$ 0.96
$ 5.03
$ 10.67
$ 7.04
$ 3.87
$ 9.67
$ 1.60
$ 0.05
$ 0.16
$ 2.03
$ 49.72
Residential
Per Capita
$ 5.50
$ 3.51
$
$ 0.01
$ (5.03)
$
$
$
$ (0.19)
$ 2.48
$
$
$
$ 6.28
Residential
Per Capita
$ 2.35
$ 17.06
$ (0.28)
$ 19.13
Residential
Per Capita
$ 0.09
$
$ 0.09
$ 121.93
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Per Employee
$
$
$
S
$
$
$
$
$
$
$
$
$
$
$
(1.03)
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2.63
0.96
5.03
10.67
7.04
3.87
9.67
1.60
0.05
0.16
2.03
49.72
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$
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$
$
S
Non-Residential
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$ 2.35
$ 17.06
$ (0.28)
$ 19.13
Non-Residential
Per Employee
$
$
$
$
115.57
1560
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GROWTH-RELA TED CAPITAL PROGRAM
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1562
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APPENDIX C.6
MUNICIPALITY OF CLARINGTON
FISCAL IMPACT ANALSIS OF NEW DEVELOPMENT
COMPARISON OF ROAD PROJECT FUNDING FOR PROPOSED DEVELOPMENTS WITH DC STUDY
Port Darlington Triggered Projects Total Triggered Road Expenditures (000 $)
2008-2014 2015~2019 2020-2025 2026-2031 Total
Base Case (DC Study) $ $ 1,699.8 $ 7,981.9 $ $ 9,681.7
2. Development Scenarios $ 7,981.9 $ 1,699.8 $ $ $ 9,681.7
Difference $ 7,981.9 $ $ (7,981.9) $ $
Northglen Triggered Projects Total Triggered Road Expenditures (000 $)
2008-2014 2015-2019 2020-2025 2026-2031 Total
1. Base Case (DC Study) $ 3,485.6 $ 2,033.7 S 660.2 $ $ 6,179.5
2. Development Scenarios $ 4,486.8 $ 1,253.1 $ $ 439.6 $ 6,179.5
Difference $ 1,001.2 $ (780.7) $ (660.2) $ 439.6 $
Brookhill Triggered Projects Total Triggered Road Expenditures (000 $)
2008-201' 2015-2019 2020-2025 2026-2031 Total
1. Base Case (DC Study) $ 3,868.4 $ 1,562.7 $ 3,667.7 $ $ 9,098.8
2. Development Scenarios $ 5,627.4 $ 3,471.5 $ $ $ 9,098.8
Difference $ 1,758.9 $ 1,908.8 $ (3,667.7) $ $
Darlington Mills Triggered Projects Total Triggered Road Expenditures (000 $)
2008-201' 2015-2019 2020-2025 2026-2031 Total
1. Base Case (DC Study) $ 2.448.8 $ 532.0 $ $ $ 2,980.8
2. Development Scenarios $ 2,733.5 $ 247.3 $ $ $ 2,980.8
Difference $ 284.7 $ (28'.7) $ $ $
North Newcastle Triggered Projects Total Triggered Road Expenditures (000 $)
2008-2014 2015-2019 2020-2025 2026-2031 Total
Base Case (DC Study) $ $ 4,884.2 $ $ 253.2 $ 5,137.4
2. Development Scenarios $ 2,117.1 $ 3,020.3 $ $ $ 5,137.4
Difference $ 2,117.1 $ (1,863.9) $ $ (253.2) $
Total Triggered Road Expenditures (000 $)
2008-201' 2015-2019 2020-2025 2026-2031 Total
TOTAL ALL TRIGGERED PROJECTS
,. Base Case (DC Study) $ 9,802.8 $ 10,712.3 $ 12,309.8 $ 253.2 $ 33,078.2
2. Development Scenarios $ 22,946.8 $ 9,691.9 $ $ 439.6 $ 33,078.2
Difference $ 13,143.9 $ (1,020.5) $ (12,309.8) $ 186.4 $
HEMS ON
1568
APPENDIX D
SUMMARY OF ASSESSMENT ESTIMA TES
AND TAX REVENUE
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1570
Property Frontage Sample Average CVA (2005)
Code in Feet Size Average Maximum Minimum Median
301
nfa 179 $ 368,000 $ 664,000 $ 189,000 $ 354,000
<30 174 $ 214,000 $ 440,000 $ 131,000 $ 210,000
30 -40 1951 $ 243,000 $ 463,000 $ 124,000 $ 244,000
40 - 50 2049 $ 253,000 $ 477,000 $ 110,000 $ 250,000
50 -60 1240 $ 243,000 $ 608,000 $ 128,000 $ 233,000
60+ 2613 $ 272,000 $ 984,000 $ 103,000 $ 241,000
All 8206 $ 256,000 $ 984,000 $ 103,000 $ 242,000
305
<30 2413 $ 200,000 $ 273,000 $ 155,000 $ 198,000
30-40 1478 $ 203,000 $ 383,000 $ 158,000 $ 198,000
40+ 401 $ 219,000 $ 346,000 $ 23,000 $ 214,000
All 4292 $ 203,000 $ 383,000 $ 23,000 $ 199,000
309
<20 517 $ 163,000 $ 214,000 $ 114,000 $ 162,000
20+ 861 $ 170,000 $ 220,000 $ 136,000 $ 170,000
All 1378 $ 167,000 $ 220,000 $ 114,000 $ 167,000
311
<20 169 $ 157,000 $ 298,000 $ 95,000 $ 161,000
20+ 337 $ 164,000 $ 439,000 $ 80,000 $ 162,000
All 506 $ 161,000 $ 439,000 $ 80,000 $ 161,000
370 All 465 $ 130,000 $ 135,000 $ 101,000 $ 134,000
APPENDIX 0.2 - PAGE 1
MUNICIPALITY OF CLARINGTON
FISCAL IMPACT OF NEW DEVELOPMENT
ASSESSMENT SUMMARIES FOR HOMES BUILT IN BOWMANVILLE 2001 _ 2006
Key to Property Codes:
301 - Single family dwelling (not on water)
305 - Link home, Le. homes linked together at the footing or foundation by a wall above or below grade.
309 - Freehold Townhouse/Row house. i.e. more than two units in a fOW with separate ownership
311 - Semi-detached dwelling
370 - Condominiums
HEMSON
1571
APPENDIX D.2 - PAGE 2
MUNICIPALITY OF CLARINGTON
FISCAL IMPACT OF NEW DEVELOPMENT
ASSESSMENT SUMMARIES FOR HOMES BUILTIN NEWCASTLE 2000 _ 2005
Property Frontage Sample Average CVA (2005)
Code in Feet Size Average Maximum Minimum Median
301
<36.0' 12 $ 273,000 $ 346,000 $ 185,000 $ 274,000
36.0 - 39.02 16 $ 290,000 $ 390,000 $ 207,000 $ 274,000
40.0 - 42.0 78 $ 249,000 $ 373,000 $ 190,000 $ 255,000
43.0 - 46.0 39 $ 269,000 $ 336,000 $ 207,000 $ 269,000
46.0+ 92 $ 287,000 $ 370,000 $ 191,000 $ 281,000
All 237 $ 271,000 $ 390,000 $ 185,000 $ 265,000
305
<33.0 112 $ 195,000 $ 225,000 $ 173,000 $ 195,000
33.0 - 39.0 41 $ 207,000 $ 263,000 $ 179,000 $ 205,000
40.0+ 31 $ 225,000 $ 269,000 $ 175,000 $ 224,000
All 184 $ 203,000 $ 269,000 $ 173,000 $ 198,000
309
<10.0 81 $ 166,000 $ 206,000 $ 151,000 $ 167,000
>10.0 30 $ 176,000 $ 199,000 $ 165,000 $ 176,000
All 111 $ 170,000 $ 206,000 $ 151,000 $ 168,000
Key to Property Codes:
301 - Single family dwelling (not on water)
305 - Link home, i.e. homes linked together at the footing or foundation by a wall above or below grade.
309 - Freehold Townhouse/Row house, i.e. more than two units in a fOW with separate ownership
HEMSON
1572
Notes
1. Sample should be used with caution as it includes one property exceeding 3,000 sq.ft.; two more
properties exceeding 2,600 sq.ft.; and seven more properties exceeding 2,000 sq.ft.
2. Sample should be used with caution as it includes five properties exceeding 3,000 sq.ft. and five
more properties exceeding 2,000 sq.ft.
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