RENOVATION PHASE IMPACTS. The Applicant anticipates that private sector investment in the renovation of the Project would cost $11.05
RENOVATION PHASE IMPACTS. The Applicant anticipates that private sector investment in the renovation of the Project would cost $10.8 million1 for all phases. It is assumed that 80%2 of the renovation spending would be sourced from within the county, representing $8.6 million in net new spending in the county associated with the renovation phase of the Project. Table 2 Renovation Phase Spending Total Renovation Cost $ 10,800,000 Percent Sourced from County 80% Net New Renovation Spending $ 8,640,000 Source: Applicant, Camoin Associates Based on $8.6 million worth of net new direct spending associated with the renovation phase of the Project, we determined that there would be nearly $12.6 million in total one-time renovation related spending supporting 68 jobs3 over the 4-5 year renovation period throughout the county and nearly $5.0 million in earnings. Table 3 outlines the economic impacts of renovation. Table 3 Economic Impact - Renovation Phase Jobs Earnings Sales Direct 48 $ 3,572,958 $ 8,640,000 Indirect 9 $ 618,185 $ 1,966,638 Induced 11 $ 776,506 $ 1,992,389 Total 68 $ 4,967,649 $ 12,599,027 Source: EMSI, Camoin Associates Based solely on information in the application, the project timeline should allow the Agency to reach the conclusion that there is a likelihood of accomplishing the Project in a timely manner. Although we are not construction experts, nothing has come to our attention that would cause us to reach a contrary conclusion.
RENOVATION PHASE IMPACTS. The Applicant anticipates that private sector investment in the renovation of the would cost $9.9 million2. According to the Applicant, 100% of the renovation spending would be sourced from within the county, representing $9.9 million in net new spending in the county associated with the renovation phase. Table 2 Based on $9.9 million worth of net new direct spending associated with the renovation phase of the Project, we determined that there would be over $14.5 million in total one-time construction related spending supporting 62 jobs3 over the 6-month construction period4 throughout the county and over $5.6 million in earnings. Table 3 outlines the economic impacts of renovation. Table 3 Based solely on information in the application, the project timeline should allow the Agency to reach the conclusion that there is a likelihood of accomplishing the Project in a timely manner. Although we are not construction experts, nothing has come to our attention that would cause us to reach a contrary conclusion.
RENOVATION PHASE IMPACTS. The Applicant anticipates that private sector investment in the renovation of the Project (excluding land acquisition and financial fees) would cost nearly $2.6 million2. If we assume that 90%3 of the renovation spending would be sourced from within the county, we can project that there will be over $2.3 million in net new spending in the county associated with the renovation phase. Table 2 Based on $2,327,400 worth of net new direct spending associated with the renovation phase of the Project, we determined that there would be nearly $3.5 million in total one-time construction related spending supporting 15 jobs over the 18-month construction period4 throughout the county and over $1.3 million in earnings. Table 3 outlines the economic impacts of renovation. Table 3 Based solely on information in the application, the project timeline should allow the Agency to reach the conclusion that there is a likelihood of accomplishing the Project in a timely manner. Although we are not construction experts, nothing has come to our attention that would cause us to reach a contrary conclusion.
RENOVATION PHASE IMPACTS. The Applicant anticipates that private sector investment in the renovation of the Project would cost approximately $503,0001. If we assume that 90%2 of the renovation spending would be sourced from within the county, we can project that there will be $452,700 in net new spending in the county associated with the renovation phase. Table 2 Renovation Phase Spending Total Construction Cost $ 503,000 Percent Sourced from County 90% Net New Constuction Spending $ 452,700 Source: Applicant, Camoin 310 Based on $452,700 worth of net new direct spending associated with the renovation phase of the Project, we determined that there would be approximately $665,431 in total one-time renovation related spending supporting 3 jobs over the five-year renovation period3 throughout the county and nearly $258,842 in earnings. Table 3 outlines the economic impacts of renovation. Table 3 Economic Impact - Renovation Phase Jobs Earnings Sales Direct 2 $ 184,074 $ 452,700 Indirect 0 $ 31,700 $ 101,048 Induced 1 $ 43,068 $ 111,683 Total 3 $ 258,842 $ 665,431 Source: Emsi, Camoin 310 1 Includes project costs as provided by the Applicant in Part III of the application.
