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Banks: Downtown and I35 <br /> •One bank is in downtown Lakeville, the other is located at I-35 and Hwy. 50. <br /> Zoning: B-4 <br /> School District: Lakeville <br /> Downtown Market Value: $725,000 <br /> I-35 Market Value: $350,000 <br /> ANALYSIS: <br /> At the request of the Economic Development Commission, the downtown bank and the I-35 Bank are compared. <br /> They wanted to know how two fundamentally different commercial areas compare. The net fiscal impact of these <br /> sample areas is positive on a total and per acre basis. Police services are primarily for money escort and costs are <br /> nominally recovered through fees. <br /> DOWNTOWN I35 <br /> Annual Operating City School City School <br /> Figures District District <br /> • Expenditures $4, 523 NA $2, 088 NA <br /> Revenues 6, 978 20,240 3, 082 8, 939 <br /> Net Impact 2,455 20,240 994 8, 939 <br /> Overall Net 22, 695 9, 933 <br /> Per Acre Impact 3, 168 26,116 1,247 11,216 <br /> Overall Net per Acre 29,284 12, 463 <br /> FINDINGS: <br /> The downtown bank has twice the positive returns because its building value is considerably higher. Downtown <br /> development should be encouraged; as the desirability of the property increases, so will the market value and tax <br /> base. Also, residential developments should be encouraged which are serviced by Lakeville commercial properties <br /> in order to balance the costs of maintaining residential development. <br /> • <br /> 29 <br />