Welcome guest, you have 2 views left. | Register | Sign In
 Contests
 Readers' Choice
 Movie times
 Property Transfers
 Auctions
 Restaurant reviews
action:article | category:NEWS13 | adString:NEWS13 | zoneID:7

Home » News » Avenues

AVENUES PARTNERS:
NH homes for sale

Search MLS

Courtesy of


Type:
Residential
Condominium
Multi Family
Land
Mobile Home
Commercial
Rentals

Towns & cities:
Price:
Low:   $
High:   $
Villages:

Locate open houses

Search By MLS #

Classifieds


 ♦ REAL ESTATE
 ♦ APARTMENTS
 ♦ HOME SERVICES
 ♦ MERCHANDISE

Click to place free online ad for items valued under $500.

Opinion

June 28. 2013 7:37PM

Londonderry taxes on Woodmont could hit $5M in 20 years

An analysis of Woodmont Commons, the 300-acre village community being proposed alongside Interstate 93 in Londonderry, suggests the project could bring in annual tax revenues of more than $5 million once it reaches the 20-year buildout.

During the latest in a series of many public hearings, Lucy Gallo, principal with the Development Planning and Finance Group (DPFG), shared details of the project's recently completed fiscal impact analysis during Wednesday night's Londonderry Planning Board meeting.

Attorney Ari Pollack, who represents project developers Pillsbury Realty Development, LLC, said the development team would be back before the Planning Board on July 10.

During next month's meeting, the developers plan on discussing the site's development standards, and Pollack said he's hoping "to have some action taken that night."

Gallo, whose firm was tasked with analyzing the projected financial impacts in the coming years, as well as determine what effects Woodmont Commons could have on the town's general fund, said the team took a multi-faceted approach to gathering its data.

"We're taking a particular look at the town's general fund because we know that most elected officials are interested in the impact this potential land use change would have on property tax rates," she said.

Using the town's 2013 budget information, including current property tax rates and trends as well as current commercial market values, the analysis also incorporated information provided by town and school officials.

"We know Londonderry, like many communities, is heavily dependent on residential tax base," Gallo said. "Woodmont would hopefully lesson the burden on residential tax."

Results from the analysis suggest the rate of new employees flocking to Woodmont Commons for their jobs would likely grow faster than the population.

Once the site reaches its 20-year buildout, the project is expected to bring 3,600 more residents to Londonderry, along with 3,800 commuting employees.

"I don't think this would surprise anyone as the live, work and play components of this project are very attractive to the market," Gallo said.

While it's difficult to determine the revenue level year to year, Gallo said the goal was to make "reasonable assumptions" though admitted the commercial development "wouldn't happen overnight."

"It's premature at this point to predict any one particular year's results," she said.

Town officials said the police, fire, building department, recreation and community development departments, along with the library and the school district, would be most sensitive to growth.

"Unlike many other communities, Londonderry's school district has availability for expansion right now, both in its operating budget and its space availability," Gallo countered.

Local school tax revenues are expected to generate "about a $7 million net surplus" once Woodmont Commons reaches its build-out, according to Gallo.

Overall, annual town-wide expenditures from Woodmont Commons are expected to increase by $3.7 million, with about a third of those costs attributed to anticipated fire and emergency needs.

Several town officials attending Wednesday night's meeting expressed some concerns.

Assistant Public Works Director John Trottier said the town lacks the "minimal equipment" needed to perform summer and winter maintenance in an urban setting like Woodmont Commons.

He further noted that the fiscal analysis presented "doesn't seem to address the impact of sanitary waste and its disposal."

"This type of development is very different from what Londonderry presently supports and could prove costly when it comes providing services in a much denser, more urban environment," Trottier said. "Plus we don't know how many of these roads will be public roads, or who will be maintaining the street lights, the grass strips in the middle of the roads. So there are a number of unknowns right now."

Board Chairman Arthur Rugg agreed.

"Right now, we have a lot of initial assumptions," he said. "This makes the whole process very, very difficult."

aguilmet@newstote.com




Real Estate

A developer has plans to build 152 townhouse apartments at the corner of Hackett Hill and Countryside Boulevard in Manchester.

Developer has plans for townhouse apartments in Manchester

The Artifacts single-handle bathroom sink faucet from Kohler.

Ed the Plumber: The basics of bathroom faucets

The twin Lumina towers rise above the corner of Folsom and Main streets in downtown San Francisco on March 9. The top two floors of the southern tower, right, will be a single penthouse expected to list for $49 million.

San Francisco luxury condo hits the $49 million mark

The Beverly Hills home of Jerry and Connie Wald has come on the market at $7.495 million.

Hot Property: Mariah Carey and Nick Cannon cut ties in Bel-Air

GOP budget writers reduce state aid to University System of NH, bump aid to DOT

Home & Garden

Weather puts a chill on NH's retirement allure

READER COMMENTS: 0

New Hampshire ranks as the 16th best state to retire in, according to a new survey, dragged down by receiving the nation's second-worst grade for weather.

An artist's rendering of the reconstructed Balsams Resort in Dixville Notch.

Balsams project leader's vision includes big ideas, ambitious time frame

READER COMMENTS: 2

The rebirth of the Balsams Grand Resort Hotel could also see the return of commercial passenger aviation to the North Country, the resort's developer says.

Cornucopia Project continues free film series

READER COMMENTS: 0

The Cornucopia Project continues its new Food for Thought documentary series Tuesday night with its second documentary film, My Father’s Garden.

A rental home, among the properties handled by Blue Moose Vacations, offers a tranquil view Ossipee Lake.

Early summer rental benefit as winter takes its toll

READER COMMENTS: 0

This brutal winter got you down? Looking to escape? Well, many blizzard-battered New Englanders already have booked rental lodging hot spots around New Hampshire this summer, especially if their...

Its iconic footbridge and waterfall were backdrops for national reporters  covering the New Hampshire Primary, but the Wayfayer Inn and Conference Center in Bedford is being torn down, making way for a shopping center.

Who's who of national political reporters fondly remember Bedford's Wayfarer

READER COMMENTS: 2

As wrecking machinery tears apart the aging walls of the abandoned Wayfarer Inn, so too is a piece of New Hampshire history being laid to rest.

The former Villa Augustina School  in Goffstown.

Villa Augustina now under agreement; yes vote on Goffstown zoning critical

READER COMMENTS: 0

The former Villa Augustina School property is now under agreement with a potential buyer, bringing the former Catholic school property one step closer to a new identity.

Artist Gail Allen at work in her Hollis studio.

Hollis painter's vibrant works reflect her passion for her art

READER COMMENTS: 0

Gail Allen says her art is her way of telling stories.