Laserfiche WebLink
SFCB - Project Plan for Development of PILOT for iiie City of Springfield Pn�e 8 <br />Unfortunately, the question cannot be answered easily. T1ie question of the revenue <br />raising ability of a PII,OT programis much more complex and requires consideration of <br />many factors. T! r� City �nu st Erst decide j ust what type and l�ind of program it wants to <br />implement -before the issue of financial benefit can be answered <br />By way of example, iF�e City of Worcester, a�ter twice considering (in 1997 and again in <br />2003) a revenue do�ninat�d PI��"I` progra�r�f ultimatelyopted instead to enter into <br />educational and economic developrnent partneYShrps with its large health care and <br />educational institutions. However, as seen by the bar chart above, of Springfield's total <br />valuation base, there is a high percentage of tax �xe�np� property. Therefore, it appears <br />highly desirable to e�plore PII,OT program options. Further, to insure that �p�g�eZc� <br />selects the best program to match its particular demographics, we reaaa�a�end and <br />include the feasibility steps that should be undertaken before decidi�z� on an <br />implementationplan. <br />J.F. Ryan Associs�tes, Inc. September 16,2005 <br />