Consider Approval for Budget Amendment 2020-04 for Fiscal Impact Analysis Update
Summary: The Town of Davidson contracted with the TischlerBise in 2014 to develop the Cost of Land Use Fiscal Impact Analysis. A fiscal impact evaluation analyzes revenue generation and operating and capital costs to a jurisdiction associated with the provision of public services and facilities to serve development.
We would like to update the fiscal impact analysis for the Town of Davidson as there have been significant changes in our cost to serve development, such as the addition of Fire Station No. 2. Revenue estimates have also changed due to the recent countywide revaluation. It is also best practice to update this study every 5 years. Budget Amendment 2020-04 allocates $25,000 from Fund Balance, in addition to the allocated $20,000, to update the fiscal impact analysis report.