T.F. Green Airport Improvement Program - FEIS Chapters - PVD

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T.F. Green Airport Improvement ProgramEnvironmental Impact Statement and Final Section 4(f) EvaluationLand Values and Property TaxesTable 4-13 presents the Baseline Condition land values and property tax revenue for residential and commercialproperties in the Study Area in order to understand the level of tax revenue paid to the City of Warwick.Table 4-13Study Area Commercial Land Use Value and Taxes (Baseline Condition)NumberofParcelsLandValue ($ million)BuildingTotalAssessedValue% of TotalStudy AreaAssessedValueTax RevenuesPropertyTaxRevenue($ million)% of TotalStudy AreaTaxRevenueCommercial Land Uses 1,518 $269 $612 $880 32% $15 36%Subtotal Commercial Land Uses- Airport-Related 1 128 $122 $205 $327 12% $3 7%Non-Commercial Land Uses 10,808 $605.8 $1,275.5 $1,881.4 68% $26.3 64%Subtotal Non-Commercial Land Uses Residential 2 9,662 $529 $1,096 $1,624 59% $24 59%Total Study Area Property Values Tax Revenue 12,326 $874.8 $1,887.5 $2,761.4 100% $41.3 4 100%Source: City of Warwick Tax Assessor’s database (2004).1 Includes parcels with airport-related uses such as car rental, hotels, and long-term parking, which is different from "airports and associated facilities."2 Includes High Density Residential (
T.F. Green Airport Improvement ProgramEnvironmental Impact Statement and Final Section 4(f) EvaluationDemographic and Household CharacteristicsTables 4-14 and 4-15 summarize the demographic and housing characteristics of the Study Area compared tothe Cities of Warwick and Cranston, and the region. Generally, the Study Area is similar to Warwick, Cranston,and the region in most demographic elements. However, the Study Area differs by a slightly decreasingpopulation over time and having a higher percentage of non-minority (white) residents, generally olderhouseholds, lower household incomes (with the except as compared to the region), lower valued housing stock,and higher residential rental rates.Table 4-14Demographic Characteristics of the Study Area Compared to Warwick, Cranston,and the RegionStudy Area Warwick Cranston Region 1Population 32,549 88,324 81,285 817,573Growth Rate (since 2000) 2.4% 3.1% 2.6% 3.9%Race/Ethnicity 95% White 95% White 89% White 82% WhiteMedian Age 41.5 41.7 40.0 37.5Median Age of Head of Household 51.9 51.4 50.2 48.5Median Household Income $47,117 $49,947 $47,694 $42,461Number of Households 13,618 37,261 32,071 322,344Average Household Size 2.35 2.34 2.39 2.45Source: DemographicsNow.Note: Data is based on the year 2004.1 Kent and Providence Counties.Table 4-15Residential Housing Stock Characteristics of the Study Area Compared to Warwick,Cranston, Region, and the StateStudy Area Warwick Cranston Region StateHousing Units 14,059 38,892 33,198 339,333 462,587Percent Owner-occupied 75% 75.8% 1 66.8% 44.9% 60.3%Single-unit Structures 77.5% 75.7% 63.1% 52.6% 58.8%Multi-family Structures 22.5% 24.3% 36.9% 47.4% 41.3%Median Value /Owner-occupied $204,700 $222,000 $230,000 $234,000 $264,700Monthly Cash Rent $742 $734 $642 $558 $578Source: U.S. Census (2000) and DemographicsNow.1 2008 Owner occupied, Source: movetowarwickri.com.Chapter 4 – Affected Environment 4-23 July 2011\\mawatr\ev\09228.00\reports\FEIS_Final_July_2011\PVD_CH04_Affected_Env_JUL_2011.doc
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