F O R
How to Generate More Revenue ler Spoi rt! Ale
The Answer is Develop Downtown
$34.9M per acre
$198K
One Lincoln Center
per acre
Walmart, Camillus NY
.48 acres
59.5 acres
1
497,920
2
ACRES
1
Onondaga County
Stack Uses
There’s only so much land in Onondaga County. Being able to measure impacts of land use decisions means we’re better able to manage policies and how they affect our community.
The more efficiently we use our land, the more tax productivity we have on that land…generating more money for our community!
Source: US Census Bureau
1
$900K
TAX YIELD PER ACRE
68
$2.6M
TAX YIELD PER ACRE
.76
ACRE FOOTPRINT
SHOPPINGTOWN MALL
3
ACRE FOOTPRINT
CENTER ARMORY
4 Density Increases Revenue Stacking uses allows for greater tax revenue to be generated on the same footprint of land, providing more returns to our community than single-story structures. More people can fit in this footprint, too – Downtown Syracuse is the employment hub of the region. More than 27,000 people work here.
Compare Apples to Apples It’s difficult to compare projects to projects. Simplify the math to better compare tax productivity impacts using a common factor, such as tax productivity per acre.
9.5%
7.6%
property tax
retail sales tax
.13%
1.6%
land area
city’s footprint
5
6 Density Matters
Downtown utilizes 0.13% of the County’s land area, yet produces 7.6% of its retail sales taxes. Downtown shines! A dense downtown provides incredible financial returns for our community giving our region character with the unique businesses located here. That character draws residents and visitors.
Support the Core
We’ve got a tremendous asset in the density of modern and historic buildings in Downtown Syracuse. Downtown utilizes 1.6% of the City’s total land area and produces 9.5% of the property taxes…We’re a pretty significant revenue generator for our community!
Let’s Build Off Of Our Existing Assets To Generate Incredible Returns For Our Community
!