06-12-2003 Long Range Planning Commission Minutes

Home Browse Search

.C required to obtain permits,special exemptions have been granted to some and most others do not bother to apply. These merchants primarily augment the permanent local retailers during peak seasonal times. In order for this sector to succeed,they need relaxed regulation and high numbers of people. Transient merchants benefit the local community in that they provide niche goods at costs typically lower than otherwise available. Often,however,they directly compete with established,tax-paying businesses. In some cases,in order to gain a competitive advantage over the established businesses,they need to employ banners or signs that can become excessive and detrimental to the character of the community. *** *** ECONOMIC IMPACT OF THE PAUL BUNYAN STATE TRAIL Among the many reasons for building the Paul Bunyan State Trail,including the preservation of the environment,promoting physical exercise and a venue for safe,family activity,is the generation of economic benefits that increased visitation to Pequot Lakes can bring to the local economy. Benefits related to business activity are seen in two ways: 1. Through direct increase in business activity in response to direct purchases by trail users;and, 2. Indirectly by providing services and products to an increasing number of businesses that have sprung up to sustain the operations of the trail and demands of its users. "Overall,trail users average about 48 years of age,are more likely to be male,have completed college,with annual household incomes between$35,000 and$75,000.In Minnesota,trail users have median incomes$10,000 higher than average;good news for the communities along the trail.s6 Since the trail travels directly through the center of Downtown,users have the opportunity to hop off and enjoy a meal or a walk past the specialty stores. Since the trail directly impacts local businesses,cold months reduce the number of visitors to Pequot Lakes via the Paul Bunyan Trail. Trails in general also act to enhance property values along their paths. o A 1998 study of property values along the Mountain Bay Trail in Brown County, Wisconsin shows that lots adjacent to the trail sold faster and for an average of nine percent more than similar property not located next to the trail.' o Realizing the selling power of greenways,developers of the Shepherd's Vineyard housing development in Apex,North Carolina added$5,000 to the price of 40 6 Parks and Trails Council of Minnesota. "The Economic and Social Benefit of Trails." www.parksandtrails.org 7 Rails-to-Trails Conservancy. "Economic Benefits of Trails and Greenways." http://www.trailsandgreenways.org/TAG Documents/FactSheets/PDF/l 1.pdf