Wednesday, Apr. 6, 2005 | ||
Bad Links? | Development may have a big impact on countys coffersBy JOHN THOMPSON The developers of Sun City Sandy Creek have released a study saying the retirement community could have up to a $96 million addition to the countys economic development over the next 20 years. The study, completed by Robert Charles Lesser and Company, estimates the impact ranging from $68 million to the higher figure. Thats similar to creating 11,000 jobs in the community, said Todd Terwilliger, vice president of land acquisition for Pulte Homes Georgia division. The conservative estimate, according to the study, is based on 2,500 homes selling at an average price of $175,000. The county would collect $17.7 million in property taxes over the 20-year period, along with another $12 million in impact fees and miscellaneous taxes. But the county would spend more than $22 million in costs over the two-decade period to provide services for the community. The county would have a net impact of more than $7 million. The biggest winner in all the economic estimates would be the Fayette County School System, according to the company. With no children living in the community, the impact on the system would be zero, but the system would reap benefits from property taxes on the residents. The conservative estimate has the system gaining $47 million in tax revenue over the 20-year period. Ive heard about, and it would be adjacent to our new school site, said Superintendent of Education John DeCotis. DeCotis said he would have to have more information on the project, but was happy to hear it would not have more of an impact on the school system. If the average price of the homes turns out to be $225,000, the county could expect to net $14 million, while the school system would be looking at a nearly $61 million windfall. |
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