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Lamplighter Apartments <br /> This apartment complex located in downtown Lakeville has well maintained buildings and open areas. These units <br /> •represent a high density rental development which is primarily serviced by the downtown commercial businesses. <br /> Zoning: R-7 Average Property Taxes: S971 <br /> School District: Lakeville Avg. # Children per Unit: .62 <br /> Avg. Market Value: S27,227 Avg. # People per Unit: 2.33 <br /> Average Unit Age: 14 Years <br /> ANALYSIS: <br /> Lamplighter Apartments sustain an overall negative fiscal impact for the City and the school district. This type of <br /> development fiscally stresses the operating budget of the City and school district by sheer numbers of residents. <br /> However, this population mass is beneficial to the downtown commercial area and industries in Air Lake Industrial <br /> Park. Providing snow removal and infrastructure is minimal on a per capita and per acre basis due to the high <br /> concentration of the population. However, operational costs of police, schools and other services required by the <br /> residents are a proportion of unit density. <br /> I LAMPLIGHTER APARTMENTS <br /> I <br /> ' l'•••••-t'i . <br /> .41 Annual Operating City School <br /> „ � '"? . Figures District <br /> lF Expenditures $56,376 $289,218 <br /> +.�y., L - ''Y�� ; ,�- , Revenues 52, 656 264,595 <br /> 11111 1. <br /> � -.�.. �' ;�,�� ;-..11.4 ,.._ <br /> ce*- �,-, n 't y <br /> " '' A 8� -., Net Impact (3, 720) (24, 623) <br /> . _... " • ` Overall Net <br /> (28,343) <br /> --� — y Per Acre Impact (372) (2,462) <br /> -4"‘",;'''',';":-;:::-}.fin' '-'.*" -;'•,-;g1,1- <br /> Y" ;g• 1,1--' <br /> -%•''''':'*--:''"'' '' '''''-' -'''' <br /> i4 d <br /> Overall Net per (2, 834) <br /> -, <br /> Acre <br /> FINDINGS: <br /> This density has a negative fiscal impact. The City should keep in mind, however, that this area may contribute to <br /> the success of future downtown commercial development and provide housing for lower income industrial and <br /> service-sector workers of Lakeville. The City should make efforts to encourage developers to concentrate on lower <br /> density rental development. <br /> • <br /> 25 <br />