[RP TownTalk] Fwd: [RP Town Announce] Saturday Council meeting regarding Cafritz

[Vernon Archer]

> Kate, and all interested in the Cafrtiz project,
>
> I'm happy you chose to invite me to review the financial implications of
> the Cafritz project for residents. However, before begining I want to point
> out the real burden is on those in opposition to the project to present a
> coherent and data based explaination of why they feel the town will not
> benefit financially from the project.  The very tax structure of our state
> is constructed so that new projects bring in net gains in tax revenue;
> revenues are greater than expenditure on services and infrastructure. This
> overwhelming and indisputable fact goes a long way to explain why
> localities tend to want new developments! Why would this project be
> different?
>
> Regarding the town's estimate of what the project will produce
> financially, remember that the town did a careful study of what the
> projected changes in revenue and expenditures will be for the project at
> full buildout. This has been up and available since late in 2011. I invite
> any and all to review "Town of Riverdale Park Financial Impact Analysis" at
>
>
> http://www.riverdaleparkmd.info/Town_s%20Financial%20Impact%20Analysis%20of%20the%20Cafritz%20project.pdf
>
> For the basic services and revenues this projection still is on point
> today and indicates the town will net $1.25 Million per fiscal yeat at full
> build out.
>
> The new item that was not accounted for in that original analysis is the
> town's portion of the CSX bridge that was added onto the project later.
> Now that we have a confirmed crossing and design we have been able to
> create more accurate projections of what the town's portion of the bridge
> will cost. If we pay it via a TIF (which does not require the full faith
> and credit of the town, but has a higher interest rate) it MAY cost as high
> as $345,000; if we pay it via a standard bond it will be more like
> $192,000, cost less, but does require the full faith and credit of the
> town.
>
> Thus, the answer to the question is this: at full buildout the town
> expects to net between $905,000 and $1,058,000 per year.  I'm the kind of
> elected official that finds this strong support that supporting the project
> is the only way to go.
>
> Best wishes,
>
> Vern
>
>
> On Thu, May 9, 2013 at 5:35 AM, Kate Kelly <kelly.kate at verizon.net> wrote:
>
>> This would be a good time for the town's elected officials to
>> detail--even briefly--for the public what the exact financial benefits to
>> the town will be and how much it will cost residents to pay for the Cafritz
>> project.
>>
>> Many years ago, a young Mayor Archer told me that the problem with
>> building a development of single-family homes on the Cafritz property was
>> that it would cost the rest of the town too much to support; that the
>> property tax revenues from such a development would not cover, for example,
>> the cost of public safety protection or public works maintenance. I
>> challenge the mayor and council now to explain exactly how the development
>> will pay for itself. And to explain what possible benefit--other than
>> paving the way for a suburban-style shopping center for the convenience of
>> people who will drive there on the widened Route 1--it will bring to the
>> people who live, for example, in Ward 4 or Ward 5. The taxes paid by the
>> people in the rest of the town will pay for police and fire protection on
>> the new property: There will be no property tax revenue for the town from
>> the new development.
>>
>> How can any member or our elected government support this development?
>>
>> Kate Kelly
>>
>> ---------- Forwarded message ----------
>> From: Sara Imhulse <simhulse at riverdaleparkmd.gov>
>> Date: Wed, May 8, 2013 at 7:28 PM
>> Subject: [RP Town Announce] Saturday Council meeting regarding Cafritz
>> To: towntalk at riverdale-park.org, townannounce at riverdale-park.org
>>
>>
>> Riverdale Park Town Council will hold a special legislative meeting this
>> Saturday, May 11th at 10:00 a.m. at Town Hall to take action on the
>> Cafritz Preliminary Plan of Subdivision (PPS) and discuss the Detailed Site
>> Plan (DSP).  This meeting is open to the public, and all are invited to
>> attend.****
>>
>> ** **
>>
>> ** **
>>
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>>
>>
>>
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>>
>>
>
>
> --
> Vernon Archer, Mayor
> Town of Riverdale Park, Maryland
>



-- 
Vernon Archer, Mayor
Town of Riverdale Park, Maryland
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