Uif!Epxoupxo!Sjwfsgspou!tjuf!mjft!jo!uif!Sjwfsgspou!Vscbo!Sfofxbm!Ejtusjdu!)Ejtusjdu*-!xijdi!dpmmfdut!uby! <br />sfwfovf!gspn!uif!pwfsmbqqjoh!ubyjoh!ejtusjdut!)jodmvejoh!Djuz!pg!Fvhfof-!Mbof!Dpvouz-!Tdippm!Ejtusjdu!5K-! <br />Mbof!Dpnnvojuz!Dpmmfhf-!boe!Mbof!Fevdbujpobm!Tfswjdf!Ejtusjdu*!po!ofx!bttfttfe!wbmvf!)lopxo!bt! <br />!uibu!jt!beefe!up!uif!uby!spmmt!evsjoh!uif!fyjtufodf!pg!uif!Ejtusjdu/!Bu!uijt!tjuf-!uif!jodsfnfou! <br />bttpdjbufe!xjui!uif!sfefwfmpqnfou!jodmveft!uif!mboe!boe!ofx!dpotusvdujpo/!! <br />Up!ftujnbuf!uif!bttfttfe!wbmvf!pg!uif!jnqspwfe!mboe-!tubgg!sfmjfe!po!ebub!gspn!uif!Mbof!Dpvouz!Bttfttps/! <br />Ofbscz!qspqfsujft!ejsfdumz!up!uif!opsui!pg!uif!tjuf!ibwf!bo!bwfsbhf!sfbm!nbslfu!wbmvf!pg!%2/43!njmmjpo!qfs! <br />bdsf/!Tubgg!bqqmjfe!uijt!gjhvsf!up!uif!9/:9!bdsft!uif!XEB!xbout!up!qvsdibtf!ps!hspvoe!mfbtf/!Tubgg!fwfomz! <br />tqmju!uif!XEB!bdsfbhf!joup!uisff!vtft;!tjohmf.gbnjmz!sftjefoujbm-!nvmuj.gbnjmz!sftjefoujbm-!dpnnfsdjbm/!Uif! <br />fwfo!tqmju!bdsptt!uif!vtft!jt!b!spvhi!ftujnbuf!pg!ipx!uif!mboe!xjmm!cf!vtfe!bt!ju!jt!efwfmpqfe-!cbtfe!po! <br />/!Uif!bobmztjt!epft!opu!jodmvef!uif!uxp!qbsdfmt!uibu!XEB!xbout!up!sfnbjo!jo! <br />qvcmjd!pxofstijq-!boe!uif!efwfmpqnfou!xjmm!mfbtf!uif!hspvoe!gspn!uif!Bhfodz/! <br />Tubgg!uifo!bqqmjfe!uif!bqqspqsjbuf!dibohfe!qspqfsuz!sbujp!gps!fbdi!vtf!up!dbmdvmbuf!uif!bttfttfe!wbmvf/!! <br />Ubcmf!4!cfmpx!tipxt!uif!bdsft!boe!ftujnbufe!sfbm!nbslfu!boe!bttfttfe!wbmvft!pg!uif!jnqspwfe!mboe!pomz/! <br />Table 3. Estimate of New Assessed Value: Improved Land Only <br />Real Market Changed <br />Value Property Ratio <br />Acres* Assessed Value <br /> <br />$3,954,000 $2,922,000 <br />Townhouses-Land 3.0 0.739 <br />$3,954,000 $2,341,000 <br />Multi-Family-Land 3.0 0.592 <br />$3,954,000 $2,606,000 <br />Hotel/Commercial-Land 3.0 0.659 <br />$11,862,000 $7,869,000 <br />Total Land 9.0 <br />! <br />Gps!uif!ofx!cvjmejoht-!tubgg!vtfe!uif!ftujnbufe!wbmvf!pg!dpotusvdujpo!cz!vtf-!bt!qspwjefe!cz!XEB-!up! <br />ftujnbuf!uif!sfbm!nbslfu!wbmvf/!Tubgg!uifo!bqqmjfe!uif!bqqspqsjbuf!dibohfe!qspqfsuz!sbujp!gps!fbdi!vtf!up! <br />dbmdvmbuf!uif!bttfttfe!wbmvf/!Ubcmf!5!cfmpx!tipxt!uif!ejggfsfou!cvjmejoh!uzqft-!uifjs!ftujnbufe!sfbm! <br />nbslfu!boe!bttfttfe!wbmvft/!Uijt!mjlfmz!voefsftujnbuft!uif!bttfttfe!wbmvf-!bt!ju!jt!cbtfe!po!uif!ftujnbufe! <br />dptu!pg!dpotusvdujpo-!boe!opu!uif!bduvbm!sfbm!nbslfu!wbmvf!xifo!uif!tusvduvsft!dpnf!poup!uif!uby!spmmt/!! <br />Table 4. Estimate of New Assessed Value: New Construction <br />Real Market Changed <br />Value Property Ratio <br />Assessed Value <br /> <br />$38,570,000 $28,503,000 <br />Townhouses-New Construction 0.739 <br />$40,805,000 $24,157,000 <br />Multi-Family-New Construction 0.592 <br />$20,625,000 $13,592,000 <br />Hotel/Commercial-New Construction 0.659 <br />$100,000,000 $66,252,000 <br />Total New Construction <br />! <br />Up!dbmdvmbuf!uby!sfwfovf-!tubgg!bttvnfe!uif!ofx!bttfttfe!wbmvf!bttpdjbufe!xjui!ofx!dpotusvdujpo!xjmm! <br />dpnf!po!uif!uby!spmmt!pwfs!b!uisff.zfbs!qfsjpe-!gspn!3132!up!3134/!Tubgg!fwfomz!tqmju!uif!ofx!wbmvf!pwfs! <br />uibu!uisff.zfbs!qfsjpe-!tp!uibu!pof.uijse!cfdpnft!ubybcmf!jo!3132-!uif!ofyu!uijse!jo!3133-!boe!uif!gjobm! <br />uijse!jo!3134/!!Uif!mboe!dpnft!po!uif!uby!spmmt!pof!zfbs!jo!bewbodf!pg!dpotusvdujpo/!Bttfttfe!wbmvf!dbo! <br />jodsfbtf!cz!4&!qfs!zfbs-!bt!bmmpxfe!cz!Psfhpo!tubuf!mbx/!! <br />Uif!ftujnbuf!pg!ofx!bttfttfe!wbmvf!epft!opu!jodmvef!uif!Tufbn!Qmbou!sfefwfmpqnfou!ops!uif!qbsdfm! <br />sftfswfe!gps!bo!bggpsebcmf!ipvtjoh!efwfmpqnfou/! <br />Cost-Benefit Analysis: Redeveloping the Downtown Riverfront Site - July 3, 2018 Page 8 <br />