WHAT THE TASK FORCE COMMITTEE DID? WHY DOES ANDOVER NEED A NEW TOWN YARD? WHAT ARE THE COST IMPACTS OF NOT DOING ANYTHING? WHAT ARE THE BENEFITS OF FINDING A HIGHER AND BETTER USE AT THE CURRENT IN TOWN SITE? WHAT ARE THE PROJECTED COSTS AND BENEFITS OF BUILDING AT A NEW SITE? 1 ANDOVER TOWN YARD TASK FORCE
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WHAT THE TASK FORCE COMMITTEE DID ? WHY DOES ANDOVER NEED A NEW TOWN YARD?
ANDOVER TOWN YARD TASK FORCE. WHAT THE TASK FORCE COMMITTEE DID ? WHY DOES ANDOVER NEED A NEW TOWN YARD? WHAT ARE THE COST IMPACTS OF NOT DOING ANYTHING? WHAT ARE THE BENEFITS OF FINDING A HIGHER AND BETTER USE AT THE CURRENT IN TOWN SITE? - PowerPoint PPT Presentation
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WHAT THE TASK FORCE COMMITTEE DID?
WHY DOES ANDOVER NEED A NEW TOWN YARD?
WHAT ARE THE COST IMPACTS OF NOT DOING ANYTHING?
WHAT ARE THE BENEFITS OF FINDING A HIGHER AND BETTER USE AT THE CURRENT IN TOWN SITE?
WHAT ARE THE PROJECTED COSTS AND BENEFITS OF BUILDING AT A NEW SITE?
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ANDOVER TOWN YARD TASK FORCE
Erected in 1965 – Temporary 10 Year Buildings.
Town Population then 20,000, Now 33,000. Close to $100,000 spent in the last two years
for repairs, emergency maintenance and time to keep the existing buildings in operation.
Recent Investigation - Major Structural Issues. Functions are in Nine Different Locations. Buildings are too Small & Obsolete – 1/3 Size. Equipment rusting being stored outside.
Equipment Parks & Grounds Division (P&F) Vehicle Maintenance Division (P&F) Water & Sewer Division (DPW) Building Division (P&F) Mechanical/Electrical Division (P&F)
Support of all Town and School Infrastructure:
$10+ Million Vehicle and Equipment Fleet 1.4 Million Sf. Town and School Buildings 2.75 Million Sf. of Fields 1.4 Million Sf. Lawn Areas 215 Miles of Roadways 180 Miles of Water Mains 100 Miles of Sewers
Why not rebuild at the present location?
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Site3+acresExisting Town YardTY11 Taxes = 0
Potential Sale = $2 - $3 million Residential (158 units)
237,000 sf 63 Market Ownership 16 Income Restricted 63 Market Rental 16 Income Restricted
Commercial 47,000 sf
Potential Tax Revenue from redevelopment = $ 561,194
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For Andover Taxpayers:
• Rare opportunity to actually expand downtown • Increased Tax Revenues• Redevelopment of adjoining parcels becomes advantageous• Increases the value of adjoining parcels• Development Costs are at a cyclical low now
For Andover Shoppers and Its Business Community:
• Expansion under 40R will allow Town to retain its character, upgrade its shopping opportunities and increase business and tax revenues.
Increase variety of storesExisting center is too small (1/2)Neighboring towns have expanded along our bordersProvide new housing opportunitiesProvide increased commuter parkingImprove property values throughout TownImprove our “Sense of Place”Creates new jobsImprove Traffic Conditions
• 158 Residential Units - Average selling price between $125,000 - $250,000
• Approx assessed value = $33,390,000
• Approx new tax revenue generated from residential development = $471,467
• Approx assessed value of retail/office development assuming a value of $85 per sf- 47,000 square feet x $85 = $3,927,000
• Approx new tax revenue generated from retail/office development = $89,727
• Approx new tax revenue generated = $561,194
• Existing tax revenue = $0
PRIOR ASSESSMENT BY TASK FORCE
NEW REQUEST FOR PROPOSALS for PHASE 1DEVELOPMENT OF 59,000 SF
FOUR PROPONENTS REVIEWED BY COMMITTEE
PHASE 1 SINCE VALUE ENGINEERED TO PRE-ENGINEERED CONSTRUCTION OF57,500 SF