<div class="gmail_quote"><br><blockquote style="margin:0px 0px 0px 0.8ex;padding-left:1ex;border-left-color:rgb(204,204,204);border-left-width:1px;border-left-style:solid" class="gmail_quote"><div>Kate, and all interested in the Cafrtiz project,</div>
<div> </div><div>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? </div>
<div> </div><div>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</div>
<div> </div><div><a href="http://www.riverdaleparkmd.info/Town_s%20Financial%20Impact%20Analysis%20of%20the%20Cafritz%20project.pdf" target="_blank">http://www.riverdaleparkmd.info/Town_s%20Financial%20Impact%20Analysis%20of%20the%20Cafritz%20project.pdf</a></div>
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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.</div><div> </div><div>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. </div>
<div> </div><div>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. </div>
<div> </div><div>Best wishes,</div><div> </div><div>Vern</div>
<div> </div><div> </div><div class="gmail_quote"><div><div class="h5">On Thu, May 9, 2013 at 5:35 AM, Kate Kelly <span dir="ltr"><<a href="mailto:kelly.kate@verizon.net" target="_blank">kelly.kate@verizon.net</a>></span> wrote:<br>
</div></div><blockquote style="margin:0px 0px 0px 0.8ex;padding-left:1ex;border-left-color:rgb(204,204,204);border-left-width:1px;border-left-style:solid" class="gmail_quote"><div><div class="h5">
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. <div>
<br></div><div>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.</div>
<div><br></div><div>How can any member or our elected government support this development?</div><div><br></div><div>Kate Kelly<br><br><div class="gmail_quote"><div><div>---------- Forwarded message ----------<br>
From: <b class="gmail_sendername">Sara Imhulse</b> <span dir="ltr"><<a href="mailto:simhulse@riverdaleparkmd.gov" target="_blank">simhulse@riverdaleparkmd.gov</a>></span><br>
Date: Wed, May 8, 2013 at 7:28 PM<br>Subject: [RP Town Announce] Saturday Council meeting regarding Cafritz<br>To: <a href="mailto:towntalk@riverdale-park.org" target="_blank">towntalk@riverdale-park.org</a>, <a href="mailto:townannounce@riverdale-park.org" target="_blank">townannounce@riverdale-park.org</a><br>
<br><br><div lang="EN-US" vlink="purple" link="blue"><div><p class="MsoNormal">Riverdale Park Town Council will hold a special legislative meeting this Saturday, May 11<sup>th</sup> 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.<u></u><u></u></p>
<p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><u></u> <u></u></p></div></div>
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<br></div></blockquote></div><br><br clear="all"><div class="HOEnZb"><div class="h5"><br>-- <br>Vernon Archer, Mayor<br>Town of Riverdale Park, Maryland
</div></div></blockquote></div><br><br clear="all"><br>-- <br>Vernon Archer, Mayor<br>Town of Riverdale Park, Maryland