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Grow Zone Discussion- January 2013 <br /> Over the past couple of months, the Planning Commission has been examining the return on <br /> infrastructure investments of individual streets within the Grow Zone. On average, the city <br /> returns 16% of the cost of the long-term street maintenance of streets. In other words, the <br /> revenue generated through taxes on property adjacent to public streets returns 16% of the <br /> long-term maintenance cost of the streets. The remaining 84% of the maintenance cost needs <br /> to come from elsewhere in the City's budget. <br /> In order to "even the equation," two things need to happen: <br /> 1) The cumulative property value within the Grow Zone needs to increase <br /> and/or <br /> 2) The long-term street maintenance cost of the streets needs to decrease. <br /> Percent <br /> Covered by <br /> Street Street Adjacent <br /> Maintenance Maintenance Property <br /> Revenue Cost Tax <br /> Ash St $6,453 $47,250 14% <br /> Bell Ave $3,862 $47,250 8% <br /> Brown St $17,858 $282,500 6% <br /> Front St $54,243 $194,400 28% <br /> Honeysuckel <br /> St $5,924 $45,000 13% <br /> Maish St $8,534 $47,250 18% <br /> North Heath <br /> St $9,619 $96,000 10% <br /> Pequot Blvd $34,471 $93,750 37% <br /> Pine St $18,851 $130,000 15% <br /> S. Oak St. $4,703 $78,750 6% <br /> S. Heath S. $9,177 $49,500 19% <br /> Spruce St. $19,618 $128,000 15% <br /> Tower Sq. $330 $25,625 1% <br /> W. Butler St. $27,067 $72,000 38% <br /> W. Grove St. $48,862 $268,750 17% <br /> W. Lake St. $16,844 $116,100 15% <br /> W. Sibley St. $28,132 $234,200 12% <br /> Total $314,548 $1,956,325 16% <br />