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Turner Drake & Partners Ltd.
6182 North Street
Halifax, N.S.
B3K 1P5

Tel.: (902) 429-1811
Toll Free: (800) 567-3033
Fax.: (902) 429-1891

Suite 221
12 Smythe Street
Saint John, N.B.
E2L 5G5
Tel.: (506) 634-1811

Suite 11
109 Richmond Street
Charlottetown, P.E.
C1A 1H7
Tel.: (902) 368-1811

35 York Street
St. John's, N.L.
A1C 5M3
Tel.: (709) 722-1811

4th Floor
111 Queen Street East
Toronto, ON.
M5C 1S2
Tel.: (416) 504-1811

E-Mail: tdp@turnerdrake.com
Internet: www.turnerdrake.com

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Planning Services

Cost Benefit Analysis

Municipalities are massively invested in real estate; well over 80% of municipal revenue is generated by property tax, deed transfer tax, development charges, permit fees and the like. Yet municipalities rarely consider real estate economics when making planning decisions; a behavior akin to investing one’s retirement savings without consideration of expected returns.

“Growth is good” is the prevailing wisdom. But is it? The plain assumption that development always pays for itself is being rightly questioned. Increasingly, communities are considering the fiscal impact of development; how the expected revenue, capital and operating costs of development affect municipal budgets, and by extension, tax rates. This issue is especially pertinent to the communities of Atlantic Canada where demographic and migration trends continue to erode the existing tax base.

While development is critical to community vitality, the way communities grow is a perennial civic conversation. A robust discussion is important; it is especially fruitful when supplemented with objective analysis. We are uniquely equipped to deliver that analysis. Our understanding of real estate valuation, demographic and market analysis in Atlantic Canada is unparalleled. Combined with the anticipated capital and operating costs of a development proposal, we can provide a realistic model of a development proposal’s fiscal performance, and its net present value (NPV) impact on the municipality’s budget.