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Investing in Community Growth: Balancing Costs and Benefits for Sustainable Development

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The presentation discusses the dynamics of public investment in community growth. It highlights the minimal initial costs to the public and the substantial long-term benefits, including increased tax revenue. However, it raises concerns about the sustainability of current development patterns, emphasizing the need for local governments to manage costs amidst inevitable tax increases and service cuts. The discussion advocates for high-return public investments and an incremental approach to development while encouraging local problem-solving over top-down solutions.

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Investing in Community Growth: Balancing Costs and Benefits for Sustainable Development

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  1. CNU 21 Closing PlenaryJune 1, 2013

  2. Investment in the community…. • Powerful Incentives • Initial cost to the public for new growth: minimal • Benefit to the public budget for new growth: substantial • The catch is that the public agrees to maintain the improvement forever. …creates new growth… …which increases tax revenue.

  3. Road Maintenance Project • $354,000 total cost • 79 years to recoup public expense from tax base • To break even requires a 46% increase in property tax rates Local Road Rehabilitation

  4. Industrial Park Development • $2.1 million inflation-adjusted total cost • $6.6 million in improvements induced • Payback from current conditions happens in 29 years if all revenue devoted only to debt Industrial Development

  5. Growth Ponzi Scheme

  6. Growth Ponzi Scheme

  7. Growth Ponzi Scheme

  8. Serious implications for the future • The “Mechanisms of Growth” we have become accustomed to are waning. • Local governments are going to be forced to absorb the local costs of the current development pattern. • This can’t be done in the current pattern of development without large tax increases and/or large cuts in services.

  9. 1. Relentlessly prove ourselves as the high return public investment. The Next New Urbanism

  10. High Return Public Investment

  11. $1,136,500 $803,200

  12. Highway Oriented $0.6 million/acre Traditional Pattern $1.1 million/acre High Return Public Investment

  13. 1. Relentlessly prove ourselves as the high return public investment. 2. Champion an incremental approach. The Next New Urbanism

  14. Build it and they will come….

  15. Build it and they will come….

  16. 1. Relentlessly prove ourselves as the high return public investment. 2. Champion an incremental approach. 3. Advocate for an end to top down solutions and instead embrace local problem solving. The Next New Urbanism

  17. Innovation that happens from the top-down tends to be orderly but dumb. Innovation that happens from the bottom-up tends to be chaotic but smart.

  18. 1. Relentlessly prove ourselves as the high return public investment. 2. Champion an incremental approach. 3. Advocate for an end to top down solutions and instead embrace local problem solving. The Next New Urbanism

  19. www.StrongTowns.orgwww.StrongTowns.net Now Available…

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