The Economic Cost For The City And All Of Us

ECONOMIC BASELINE CALCULATION — Public Service Cost

The proposed development, and the associated rezoning, are incompatible with the responsibilities and legal requirements that must guide the city council committee and planning commission in their decision — and the requested rezoning can only be denied on economic and legal grounds.

It is the responsibility of the city council to consider a development and a proposed rezoning not only for its legality, but for its impacts on the current residents of the city, the city overall and the interests of the city and its residents.

This development will COST the city money both in the short and long run: Increased public spending for services outweighs the anticipated revenue. 

In fact, an increase in tax revenue of approx. $300.000 is outweight by in increase in spending needs for public services etc. of about $800.000.

 

Some basic math clearly shows that costs substantially outweigh revenue

Anticipated Revenue

Based on comparative data of similar developments in similar locations in Troy we approximate (generously) the anticipated tax revenue for the city with around $300,000.00 

We assess the anticipated tax revenue for the school district (similarly generously) with $400.000,00.

(Numbers are based on approximated unit value calculations).

 

Increase in Cost Spending for Public Schools (TROY SCHOOL DISTRICT): 

In the state of New York, an average of annually $22,366 are spent per pupil on the public education system [S4-8]. In Troy this number is closer to $28,000, but we will use the more conservative sate wide average. 

A conservative estimate would be 40 new pupils entering the Troy School System — an estimate that is very conservative for 240 apartment units. 

This leads to an increased cost spending of $894,640. 

 

Anticipated Revenue Increase for Troy School District …………. Approx. 400,000

Approximate Cost Increase: Public Service — School ………….. Approx. $894,640

COST TO DISTRICT AS DIRECT RESULT FROM DEVELOPMENT:  APPROX. $498,640

 

This leads to a shortfall of $494,000.00 

 

Increase in Costs For City of Troy On the Example of Public Safety Alone: 


Public Safety: Estimates for cost increases for the Fire and Police Services are hard to estimate. One way to estimate this is the per capita spending for police services. According to the 2020 proposed Budget, a total of $40,329,791 will be expended for safety services [S4-9]. This excludes overtime, extraordinary expenditures and other expenditures not listed in the general budget itemization. The population of Troy lies at 49,826 for 2017.

This results in a per capita spending of (rounded) $800. With 240 units, and an conservatively estimated 1.75 persons living in each unit, this leads to a total increase of cost of: 240x800x1.75 = $336,000.00

 

Approximate Revenue for City …………………………………….. Approx. $300,000

Approximate Cost Increase: Public Service — Safety ………….. Approx. $336,000

 

This leads to an conservatively anticipated increase in cost associated with the development of for public safety alone of $36,000/year.

This does not incorporate other increased public service costs, such as road maintenance, etc.

The Center for Climate Communities

The C3 Center for Climate Communities is a bi-partisan public benefit organization that seeks to promote transformative climate aciton driven by local communities and unfolding across all scales. 

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