Fiscal Impact Assessment - A common phase is “Growth paying for Growth”, however we know that there are varying servicing requirements for a wide variety of land uses. While community growth can be a competitive advantage for a municipality looking to grow its local economy and population base it is difficult for municipal governments to address the current and long-term financial sustainability of their community without an understanding of the fiscal impacts of development.
A fiscal impact analysis is an extension of asset management that assesses the impact of proposed development projects. Fiscal impact analysis provides a critical, objective link between land use planning and local budgeting.
Development cost charges in Saskatchewan do not allow for taking contributions for police, and fire services as well as amenities such as libraries or community centres. A fiscal impact analysis can identify the gap between property tax revenue and the operation and maintenance costs of servicing new development. When completed early in the neighbourhood planning stage recommendations can be made to reduce the gap between revenues and liabilities.
Fiscal impact of development assessments are important tools for examining the cost and benefits of various land uses, for prioritizing projects and infrastructure investment, and for assessing development alternatives.
ADDITIONAL FINANCIAL AND CAPITAL PLANNING RELATED SERVICES
Firebird Business Consulting Ltd. - Municipal Consulting Services:
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333 25th St E, Saskatoon, Saskatchewan S7K 0L4, Canada
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