Lexington
Avalon at Lexington Square Review of Fiscal Impact Analysis
Estimated the potential school children and marginal costs associated with proposed mixed income multifamily rental development on the site of former State Hospital. Prepared independent peer review of fiscal impact analysis previously prepared by other consultants.
A 348 unit residential complex was proposed on the site of the former State Hospital in Lexington, with a combination of 1, 2 and 3 bedroom apartments, with some affordable and some age restricted. Based on 3 different sources of data, we estimated a range of schoolchildren between 67 and 125 students residing in the proposed development. Utilizing more conservative assumptions than previous fiscal impact studies for this project, under the worst case scenario the development was projected to break even (cost revenue ration between 0.95 and 1.05).
A marginal cost methodology was used in this analysis to provide an accurate estimate of the cost of educating the school children; data provided by the school department indicated that the cost of adding new students into the school system would likely range from $7,068 to $7,819 per pupil. Our estimate of non-educational costs, $829 per household, is added to the educational costs to arrive at gross service cost.
Given the town's current growth rate and projected school enrollment, the proposed project did not exceed the capacity in the schools.
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