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

T.F. Green Airport Improvement ProgramEnvironmental Impact Statement and Final Section 4(f) EvaluationTable 5-54Alternative B2: Direct Annual Property Tax Impacts (Losses)Safety Enhancement Elements 1 Efficiency Enhancement Elements 2Terminal FullyPartially Area and Relocated IntegratedRelocated Access Airport CargoTax and Acquisition Type Runway 16 Runway 34 Airport Road Runway 5 Runway 23 3 Road Road Facility TotalResidential Property Acquisition –Mandatory for Construction $1,264 $0 $0 $0 $0 $0 $165,334 $0 $166,598Residential Property Acquisition –Voluntary Noise (2020) 4 $0 $0 $0 $36,129 $53,279 $0 $0 $0 $89,408Residential Property Acquisition –Voluntary RPZ 5 $0 $0 $0 $100,968 $137,915 $0 $0 $0 $238,883Commercial Property Acquisition –Mandatory for Construction $499,570 $0 $35,241 $0 $0 $0 $32,969 $0 $567,780Commercial Property Acquisition –Voluntary RPZ 5,6 $0 $0 $0 $0 $111,328 $0 $0 $0 $111,328Total Direct Tax ImpactsMandatory (Property Taxes) $500,834 $0 $35,241 $0 $0 $0 $198,303 $0 $734,378Total Direct Tax ImpactsVoluntary (Property Taxes) $0 $0 $0 $137,097 $302,522 $0 $0 $0 $439,619Source: City of Warwick Assessor’s Office, The Tax Foundation and RI MapStats from FedStats, VHB, RKG Associates, Inc, EDR Group.1 Assumes annual tax loss starting in 2015.2 Assumes annual tax loss starting in 2020.3 Includes acquisitions associated with the proposed extension of Runway 23 and the relocated road for the Airfield Maintenance Facility.4 Assumes annual tax loss starting in 2020 because for the purposes of the Alternative B2 FEIS analyses, residential properties are assumed to be acquiredbetween 2020 and 2025; however, it is RIAC’s intention to begin to acquire residential parcels as soon as 2012, subject to funding availability).5 RPZ clearing is an FAA recommendation, and is not a required action. Therefore, RPZ-related property acquisition would be voluntary and subject to funding availability.6 For the purposes of this FEIS, it is assumed that there would be 100 percent participation by property owners in a voluntary program; however, for commercialbusinesses located within the RPZ, it is possible that owners would choose not to participate in the voluntary acquisition program. RPZ clearing is a FAArecommendation,and is not a required action. Therefore, RPZ-related property acquisition would be subject to funding availability.Starting in 2015, under Alternative B2, up to approximately $536,075 in commercial and some residentialproperty taxes would be lost to the City of Warwick due to the safety enhancements, including PartiallyRelocated Airport Road (to be completed by the end of 2015). Starting in 2020, an additional $637,922 in annualtax revenue would be lost to the City of Warwick due to the efficiency enhancements, including $198,303 lostdue to residential and commercial land acquisitions required for construction of Fully Relocated Airport Roadand $439,619 lost due to land acquisition associated with a Future Build VLAP and newly created RPZ for atotal annual loss of $1,173,997 under Alternative B2. This represents less than one percent of the City’s projectedlocal tax revenue base for 2010 ($204,173,334). The majority of residential property taxes lost are associated withresidential acquisitions under a Future Build VLAP ($238,883 per year). Direct losses in commercial property taxrevenue due to the required acquisitions for construction would total $567,780 per year, representing 0.3 percentof the City’s total property tax base. An additional $111,328 of commercial property taxes would be lost due toland acquisition associated with clearing the RPZ for Runway 23. For the purposes of this FEIS, it is assumedthat there would be 100 percent participation; however, for commercial businesses located within the RPZ, it ispossible that owners would choose not to participate since close proximity to the Airport potentially provideseconomic benefits depending on the type of business.Chapter 5 - Environmental Consequences 5-92 July 2011\\mawatr\ev\09228.00\reports\FEIS_Final_July_2011\PVD_CH05_Environmental_Cons_JUL_2011.doc