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Introduction <br /> • Improved Property Values, Tax Revenues and <br /> Fiscal Health <br /> Compact Station Neighborhood development would provide a <br /> positive fiscal benefit. Residential and commercial properties, <br /> both buildings and raw land,near transit stations typically appre- <br /> ciate in value more rapidly than other properties. The effect of <br /> transit on property values is most pronounced when combined <br /> with density control changes. (Source: Joint Center for Transit <br /> Research,"Assessment of Changes in Property Values in Transit <br /> Areas,"Rice University, 1990.) <br /> To the extent that development around a station is increased <br /> beyond what might have been experienced without the station, <br /> property tax revenues to the city,county and school district will <br /> increase. <br /> Finally, studies by various organizations around the country have <br /> confirmed the belief that low-density housing is sometimes a net <br /> fiscal loss to a city while mid- or high-density housing is usually <br /> a net fiscal benefit. In a 1996 Lincoln Land Institute paper titled <br /> • "Land, Infrastructure, Housing Costs and Fiscal Impacts <br /> Associated with Growth," the authors concluded that more effi- <br /> cient development patterns: <br /> • Can reduce land consumption for development by 60 percent <br /> • May slightly reduce housing costs <br /> • Can save five percent on the cost of schools and 15 percent on <br /> utility line extensions <br /> • Can lower ongoing operating costs for roads and infrastructure <br /> Alternatives to Auto-Oriented Development <br /> Every community should contain a range of choices in housing, <br /> shopping and community character. Many cities across the U.S. <br /> are dominated by low-density, auto-oriented residential areas and <br /> shopping centers fronted by large parking lots. Transit Station <br /> Neighborhoods are a good location to provide an alternative <br /> desired by a portion of the market. <br /> Support for Urban Revitalization <br /> • Some of the rail transit stations proposed in the Northstar <br /> Corridor are in locations that are ready for redevelopment or <br /> already experiencing some degree of reinvestment. The <br /> Station Neighborhood Development Guidelines 3 Northstar Corridor Development Authority <br />