
Fiscal Analysis
City: Albemarle, North Carolina
Client: City of Albemarle
Service Type
Development Fiscal Impact Analysis
Timeframe
Completed August 2023
Property Tax Analysis, Budget Analysis, Land Use and Zoning Analysis, Infrastructure Analysis, Asset Management, Data Analysis and GIS Mapping, Report Preparation, Civic Education, Scenario, Fiscal Modeling, Development Fiscal Impact Analysis
Project Activities
In 2023, Albemarle was working on an in-house update to its comprehensive plan and zoning codes and wanted additional data to support policy and investment decisions related to the fiscal health of the city. The City reached out to Verdunity to develop and implement a standardized process to quantify its resource gap and evaluate the fiscal impact of proposed development and infrastructure projects so that more informed decisions can be made. Verdunity completed a GIS-based land use fiscal analysis (LUFA) to provide a baseline of how current development was performing in terms of tax revenue, service costs, and net fiscal productivity. This information was referenced to build two versions of spreadsheet-based tools to evaluate the fiscal impact of proposed development projects and growth scenarios. Results of the effort were presented to the City Council and then a training session was conducted with staff to go over how to use and maintain the Development Fiscal Impact Analysis (DFIA) tools.
