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Analysis of Commercial Zoning along the TH 371 Alternate Alignment <br /> Commercial zoning along the Highway 371 Alternate Alignment would cost the City <br /> financially substantially more than it would bring in tax revenue. To develop properties <br /> along the Alternate Alignment commercially, the most optimistic scenario would have <br /> the City enacting a substantial tax increase on all taxpayers, in order to provide <br /> municipal utilities to the properties. (Note, it does not include the cost of extending <br /> them along the new alignment,just making them available on the east side). <br /> Such a move would not address issues the City has with maintaining existing <br /> infrastructure in the downtown, for which a substantial financial obligation already <br /> exists. It would also place existing businesses in the difficult position of subsidizing <br /> competing enterprises on the periphery of the City's commercial area at a time when <br /> they are undergoing the financial stress of tronsitioning from the economics of a <br /> through-town alignment to that of an alternate route. <br /> To protect the investments of those that have committed to City of Pequot's <br /> downtown, City policy should focus on keeping tax rates low while striving to undertake <br /> endeavors that strengthen existing businesses and to create a regulatory environment <br /> where compatible and complementary enterprises can flourish. The obligations of <br /> maintaining the current infrastructure in the downtown are daunting as it is. <br /> Maintaining these assets, while making better use of them, is critical to the long-term <br /> financial health of the City. <br /> Lnalysis <br /> If the property along the alternate alignment is to be developed commercially, it can <br /> either be done with municipal utilities (sewer and water) or without city utilities. Both of <br /> these alternatives have been examined, with the following offered for consideration. <br /> With Municipal Utilities <br /> The Comprehensive Plan and City ordinances require that any property not currently <br /> zoned Commercial needs to be served by municipal utilities before the zoning would <br /> be changed. <br /> If the City is to proceed with extending municipal utilities, the City Engineer has <br /> indicated that it will cost an estimated $1,526,000 to extend the utilities across the new <br />