Laserfiche WebLink
Lamplighter Apartments <br /> This apartment complex located in downtown Lakeville has well maintained buildings and open areas. These units <br /> 40 represent a high density rental development which is primarily serviced by the downtown commercial businesses. <br /> Zoning: R-7 Average Property Taxes: $971 <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 /> ILAMPLIGHTER APARTMENTS <br /> 1 a r '�k. - c r — I <br /> • � ,,1 Annual Operating City School <br /> t <br /> r.. J . Figures District <br /> �'0- Expenditures $56 376 X289,218 <br /> —L.; .4 .. ,.; ,nn r" 5, i--. Revenues 52, 656 <br /> 16-s: 1 ;�r 7, _I '� :..3 Net (3, 720) 264,595 <br /> 2 <br /> rt Impact (24 6 3) <br /> ^�r. Overall Net (28,343 <br /> --- _. --_ """. - Per Acre Impact <br /> (372(2) 81,343$)289,218- <br /> (2, 834) <br /> 372) , (2, 462) <br /> 4 <br /> '-'44 * '.; Overall Net per (2, 839) <br /> l,- 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 />