Improving Fiscal Impacts Analysis
You'll learn about:
- Traditional methods used in fiscal impact analysis.
- The legitimacy of criticisms against FIA by academics.
- The validity of received conclusions of FIA results.
- Alternative cost estimation methods under the condition of marginal costing.
- Fiscal equilibrium and differentiation of fiscal impacts by the nature of development.
Research funded by Lincoln Institute a decade ago generated doubts of FIA but failed to provide practical recommendations. In this facilitated discussion, the panelists and participants will discuss the previous research and develop practical improvements to the FIA process.
The session will first review the methods developed by Robert Burchell and David Listokin in their 1978 The Fiscal Impact Handbook, invite participants to discuss the pros and cons of the prevailing methods, and answer some of the criticisms of FIA.
The panelists will then review lessons learned from decades of FIA practice, including claims that only non-residential development could generate surplus, each unit built would generate one student, and multifamily development is more costly than large single family development.
The latter part of the discussion focuses on FIA methods such as how to separate residential expenditure from municipal expenditure, how to detect slack or overburdened capacity, and ascertain non-average costing situations. The discussion will then cover methodological adjustments to estimate non-linear costs under marginal-costing situation and to cover multiple impacts in accordance to unique housing mix, household characteristics and activities. The last part of the discussion will explore the idea of fiscal equilibrium and long term iteration of development impact.
Confirmed SpeakerDaniel Miles, PhD, is a Director at Econsult Solutions, Inc. He was the speaker of “Projecting Development Impacts for Sustainable and Fiscally Responsible Growth,” in the 2016 APA National Capital Area Chapter Conference. At ESI, Dr. Miles leads economic analysis projects across a variety of sectors and industries. Prior to joining ESI, he was a Senior Economist in the New York office of Oxford Economics, where he led a multinational team of economists. His projects included estimating the economic impacts of laser fusion energy and the size and impacts of the Longevity Economy, analyzing the public/private partnership policies of several Asian countries and developing a cigarette market and excise tax forecasting model of the Philippines. From 2008 to 2011, Daniel was an Associate at Econsult Corporation. He contributed to a number of studies, including evaluating the financial feasibility and economic impact of using tolls to finance transportation infrastructure improvements, the preparation of an economic development plan for an older industrial city, and estimating the economic value of permanently preserved open space. In 2011, Dr. Miles received his Ph.D. in Public Policy with a concentration in Economics from the University of Maryland, Baltimore County, where he was supported by a prestigious National Science Foundation IGERT Fellowship. He earned his Master’s in Public Policy in Environmental Policy from the University of Maryland School Of Public Policy.
, Econsult Solutions
Confirmed SpeakerDr. Peter Angelides is a Principal of Econsult Solutions, Inc. (ESI) and a member of the teaching faculty at the University of Pennsylvania. Dr. Angelides, who is trained in both economics and city planning, applies critical economic thinking to complex projects in real estate, economic development, transportation, tax policy, valuation and litigation. His recent work includes tax assessment appeals, commercial litigation, fiscal impact assessment, benefit-cost analysis, and affordable housing needs analysis. Dr. Angelides has previously worked at PricewaterhouseCoopers, Charles River Associates and Putnam Hayes & Bartlett investment, and has held planning and development-related positions at Wallace Roberts and Todd, the Central Philadelphia Development Corporation and the Philadelphia City Planning Commission. Dr. Angelides teaches courses in the areas of urban economics, public finance and infrastructure investment at the University of Pennsylvania in the Department of City and Regional Planning and at the Fels Institute of Government. He also serves as a board member or in another contributing role for several civic and professional organizations, including the Design Advocacy Group, PenTrans, The Urban Land Institute, the Transportation Research Board and the American Institute for Certified Planners
Confirmed SpeakerSidney Wong is a project lead of Community Data Analytics, specializing in demographic multipliers and fiscal impact studies. He has extensive experience in planning practices and research experiences in public finance, infrastructure, zoning, economic development, community GIS, and planning methods. Dr. Wong is a specialist in fiscal impact study and Mount Laurel affordable housing. Since 2016, Dr. Wong has presented in the Capital Region (DC Metro Area), Pennsylvania, and New Jersey chapter conferences on estimating development impacts. In 2015, Dr. Wong served as a member of APA’s Community Planning Assistance Team for North Beach, MD and between 2009 and 2013 he served in the Executive Committee of the APA Maryland Chapter. He was a senior consultant with the World Bank for South Asia projects in 2015 and for Asian Technical Department in 1991. He is a former director of a HUD Community Outreach Partnership Center in Miami, and a former planner and zoning officer in Hong Kong. Apart from being an APA member, Dr. Wong was a chartered member of the Royal Town Planning Institute and the Hong Kong Institute of Planners, which where he serves as the honorary editor for their journal. Dr. Wong has taught planning and urban studies at the University of Pennsylvania, Temple University, Drexel University, Morgan State University, and Florida International University. He wrote “Architects and Planners in the Middle of a Road War” in the Journal of Planning History documenting the rebellion of planners against the “road gang” and “Searching for a Modern and Humanistic Planning in China” in the Journal of Architecture and Planning Research. He earned his Ph.D. in Planning at UC Berkeley, with the Barclay Jones award of the Best Doctoral Dissertation for his research on enterprise zone programs.
Confirmed SpeakerSteven L. Nelson is a certified city planner and policy maker; and understands the interplay between public policy, creativity, entrepreneurship and constituency building necessary to achieve strategic and measurable success. His areas of expertise include economic development, land use planning, open space preservation, trail development, post-disaster recovery planning and strategic partnerships. His work includes program development and evaluation, government operations and government relations. With extensive experience in county and local government, Steve served in several high-profile positions including Deputy Chief Operating Officer/Director of Policy for Montgomery County, and Director of the Montgomery County Planning Commission (MCPC). He recently worked with municipal governments along the New Jersey shore who are still recovering from Superstorm Sandy. He is currently a senior advisor with Econsult Solutions and also Director of Planning and Government Relations for Eastwick Marketing. Steve has a master’s in city planning from the University of Pennsylvania and a bachelor’s degree in economics from Rutgers University. His civic interests are numerous and varied including municipal and regional boards, several business and tourism organizations, and a county-wide bicycle task force.