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City Assessor conveying the Green Line Extension Assessment Study completed by RKG Associates.
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Official Text
To the Honorable Board:
Please find in the attachment, the Green Line Extension Assessment Study prepared by RKG Associates, Inc as requested by the Board. Staff and the consultant, if needed, will be available to review with the Board at the appropriate time.
Please be aware that this is one of a few recent studies from this administration regarding the development impact and the tax benefits that will be generated by development from the Green Line. In addition to this study, TischlerBise has completed a study of the fiscal impacts of the Union Square plan (which is attached to the Plan as Appendix A), and they are currently working to quantify the fiscal impacts of likely development from the forthcoming Zoning Overhaul. Since the Green Line, the Overhaul and the Union Square / Boynton Yards developments are all interrelated, there is some overlap in the scope of these studies. Nonetheless, the scope of each study is a bit different and therefore highlights different strategies to achieve our goals. The RKG study identifies growth over a shorter time period than the SomerVision goals (which identify buildout through 2030) and the Union Square Plan (which has a likely buildout beyond 2040). Nonetheless, each report concludes that the new mixed-use development in and around the green line extension stations over the next 10, 15 or 25 years is likely to generate significant new tax revenue. We look forward to discussing this further with you at the appropriate time.
Respectfully submitted,
Marc A. Levye, RMA, MAA
Chief Assessor