Explore HdL’s Custom Economic Development Reports for Local Governments
At HdL Companies, we understand that every community has unique challenges and opportunities when it comes to economic development and fiscal sustainability. That’s why we offer tailored reports to help local governments make informed decisions and create strategies that benefit their communities.
Below are two sample reports showcasing the depth of analysis and insight HdL can provide. These examples highlight how we can evaluate revenue enhancement opportunities and analyze the economic benefits of major development projects. Whether you need a detailed analysis of potential tax revenues or a comprehensive study of urban redevelopment initiatives, HdL can create custom reports to meet your specific needs.
Let us help you uncover actionable insights and solutions for your community’s growth and financial health. Explore the possibilities with HdL’s data-driven, strategic approach.
Revenue Enhancement Opportunities Analysis for the City of Goleta
HdL prepared this report to evaluate potential revenue enhancement opportunities for the City of Goleta. It analyzes six key tax options: Transaction Use Tax (TUT), Utility Users Tax (UUT), Parcel Tax, Transient Occupancy Tax (TOT), Business License Tax, and Documentary Transfer Tax. The report provides details on the nature, implementation processes, revenue potential, and pros and cons of each tax. No recommendations are made, but the evaluation outlines potential impacts and feasibility for voter approval.
Value for Local Governments:
- Comprehensive Revenue Analysis: Offers a detailed assessment of potential revenue sources, including feasibility, implementation timelines, and revenue projections.
- Data-Driven Insights: Uses comparisons with neighboring jurisdictions and historical data to provide realistic revenue estimates and implications.
- Tailored Recommendations Framework: Assists decision-making by highlighting advantages and challenges of each tax option without prescribing a one-size-fits-all approach.
- Strategic Implementation Guidance: Breaks down voter approval processes and administrative considerations for each revenue source.
- Community Impact Assessment: Evaluates regressiveness and economic impacts on residents and businesses to ensure informed policy choices.
Midway Rising LLC Economic Benefit Analysis Report
The Midway Rising Master Development project aims to replace the outdated Pechanga Arena in San Diego with a new 16,000-seat multipurpose arena and surrounding development. This transformative initiative includes a mix of housing, commercial space, and community facilities. HdL Companies' ECONSolutions Division conducted a comprehensive analysis to estimate potential sales tax revenue generated by the project through direct and indirect contributions, including retail, hotel, and construction activities.
This project represents a forward-thinking investment in infrastructure, housing, and community amenities, setting a model for public-private partnerships in urban redevelopment.
Value for Local Governments:
- Substantial Sales Tax Revenue Growth: The project is expected to generate annual direct and indirect sales tax revenues of $1.9M–$2.1M, compared to the current arena's $170,000 in annual sales tax revenue.
- Affordable Housing Impact: 4,250 residential units, with 50% designated as affordable housing, will address local housing needs while contributing $792,906 in annual sales tax revenue from resident spending.
- Employment Creation: Significant job opportunities in construction, retail, and ongoing operations, enhancing economic activity and indirect revenues.
- Revitalized Community Hub: New commercial spaces, parks, and a modern arena will attract visitors and businesses, fostering regional economic development.
- Enhanced Financial Stability: Reliable revenue streams from commercial components (estimated $480,600–$595,600 annually) and the arena ($170,000–$250,000 annually) strengthen the local economy.
