University of Connecticut chooses downtown Hartford, may boost what once was blight.
Center for the Study of Economics - Company Message
RSS Follow Become a Fan

Delivered by FeedBurner


Recent Posts

LVT in Los Angeles? Op-Ed says go for it.
Welcome to the Zany World of NYC's Property Tax
Land Value Taxation in Jamaica: Now More Than Ever
Part 1, Land Value Taxation: Politics, Persuasion, and Practicality - A How-To
2016: Another Year of Advances and Retrenchment

Most Popular Posts

Noted UK Think Tank: Tax Land Values
Eliminating the property tax? It must not happen, but we’ll see what happens.
Altoona, PA: City tax wholly on land values = normality
Land Value Tax in Britain: Progress While the Rear Guard Digs In
Dr. Herbert Barry's Proposal to Really Reassess Allegheny County

Categories

Act 47
Affordable Housing
Africa
Agricultural Policy
Allegheny County
ALTER
Altoona
Assessment
Australia
Australian Capital Territory
Baltimore
Berkshire
California
Canberra
Clairton
Connecticut
Connecticut General Assembly
Current News Item
de Blasio
Economic Development
Economic Policy
Economic Rent
Economist
Ed Vargas
Education
EPA
Federal Tax Policy
Fiscal Policy and Taxes
Frederick
Free Markets
Gentrification
George Osborne
Global Taxation
Harrisburg
Hartford
Healthy Communities
Housing
Housing Policy
Hurricane Sandy
India
Ireland
Jamaica
Jeffrey Berger
Jimmy Tayoun
Justin Skariah
Kenyatta Johnson
Lancaster
Land Policy
Land Value Tax
Lanesborough
Larry Deutsch
Law and the Constitution
Legislation
Len Fasano
Liberal Democrats
Local Government
Los Angeles
Maria Quinones-Sanchez
Martin Looney
Maryland
Massachusetts
Matt Ritter
Matthew Ritter
Mayor Rick Gray
Michael Kinsley
Michigan
Millbourne
Model Legislation
Monroe County
Montreal
Moonachie
Namibia
National Tax Policy
New Jersey
New London
New York City
NY
Oregon
Parking and Transportation
Patricia Dillon
Pennsylvania
Philadelphia
Pittsburgh
Portland
Property Assessment
Property Tax Reform
Public Health
Public Opinion
Public Resources
Public Works
Regional Tax Base Sharing
Regionalism
Regressive
Rhode Island
Rochester
Roland Lemar
Sales Taxes
Scranton
Senator Jan Malik
Sin Taxes
Smart Growth
Soda Tax
Taiwan
Tax Exemption and Abatment
Thomas Piketty
Titusville
Tom Kramer
Transportation Funding
Transportation Policy
Uncategorized
United Kingdom
Urban Blight
Urban Rejuvenation
Urban Tax Policy
Vince Cable
Wage and Income Taxes
Wales
Wealth
Wilson Goode Jr.
powered by

Incentive Taxation

University of Connecticut chooses downtown Hartford, may boost what once was blight.

The Hartford Courant today editorializes in support of the University of Connecticut establishing new headquarters in downtown. The former Hartford Times office, still gleams through the grime and decades of neglect.













The Times of Hartford: Then and Now

Is this good news? Nearly unquestionably.  Existing businesses will see more foot traffic and more dollars spent in their stores. The residential sector will undoubtedly get a boost, as workers, faculty and students populate the southern end of a fairly empty downtown.

Of course, the city of Hartford will only gain revenues and value from this investment in public infrastructure indirectly from whatever development does occur off-site. 

It can be reasonably assumed that a payment in lieu of taxes program will be deployed to pay for city services, but the time frame and the expense of development off-site make the recent passage into law of land value taxation for up to three Connecticut cities, as part of a pilot program to test the utility of LVT.

Although jaunty about future growth and stabilization of the area, the Courant justifiably is concerned about concrete issues that may create problems unless addressed. Just because the existence of the automobile is a fact of life, it should not mean that this vision must come to fruition with a mono-focus on where to put the cars.

The answer lies in the sky: instead of 20 surface parking lots (about the number that infest that area), build up.  A parking garage, uniquely set back to wrap residential and retail units around the outside are becoming standard "infill kit" from Albuquerque to Dallas.

One can easily imagine a structure like the one below in Texas filling in the streets around the new UConn with little to worry about for parking.  However, these projects could remain in the imagination considering how hard it is to build in a large Northeast US city.


Currently to achieve this vision, any developer's costs would be nearly too high, and the resulting sale price would be out of reach a prospective buyers and renters.  One prime reason is that consolidation of land parcels depends upon the tender mercies of land speculators who have been in Hartford for nearly 50 years now, unwilling to sell, and encouraged to hold on due to the low cost of sitting on land.

The traditional solution to this particular problem is to shower builders with tax breaks, giveaways, and abatements.  In the current fiscal climate of Hartford's declining tax base, and its highest-in the-state tax rate (see below), this is not counter-intuitive as a strategy. It simply is not affordable anymore.


























While no one believes that cities can be turned around anymore "by one more big project"that breaks the bank, many are convinced that a retooling of municipal tax structures can be adjust, efficient and equitable way to not only fund necessary city services but also to encourage infill and reward hard work, investment, and initiative.

Certainly, the area surrounding the Hartford Times building is chockablock with vacant and redevelopment (exempt) parcels crying out for sensible use, not to mention the many warehouse to buildings that are in desperate need of capital investment.  UrbanTools believes that CSE research will lead Hartford to the conclusion that a land value tax can be of benefit not just for infill in the Hartford Times building area, but to also increase the value of the city's land, thereby leading to stabilization and then reduction of taxes for all Hartfordians.

Mapping Vacancy Around Prospect Street:






































8 Comments to University of Connecticut chooses downtown Hartford, may boost what once was blight.:

Comments RSS
rushessay on Wednesday, June 06, 2018 2:09 AM
This is actually a pretty isightful article and I am gld that you chose to write on this. Many people refrain from doing so which contributes to the lack of quality. Thank you.
Reply to comment


Best essay writing service on Saturday, September 08, 2018 5:16 AM
Thank you so much for sharing this post.The information shared in this post was really useful and valid.I can use all these information as source for preparing articles.And it also gives us information about various things which could be used in our future also.
Reply to comment


essay writing services on Wednesday, September 26, 2018 6:29 PM
Excellent Write up. I have thoroughly gone through the article and according to my personal observations you have done a great job writing this Article.Being associated with writing profession, I must mention that AcademicWritingPro are quite helpful nowadays.Furthermore, quality is also an important aspect.
Reply to comment


Programming Assignment Help on Wednesday, November 21, 2018 12:35 AM
Students often feel issues in writing assignment, so to make students comfortable in programming assignment we help them to write their assignments. If ever you feel any problem in writing something you can visit our website Programming Assignment Help.
Reply to comment


Allassignmenthelp.com Reviews on Wednesday, November 21, 2018 6:19 AM
In today’s time students face the problem of stress in college. Whether it is because of social anxiety, or not being able to clear exam etc. Most of the times, students get stressed due to their piled up assignments. If it is with you also then you might look for Allassignmenthelp.com Reviews.
Reply to comment


fix wireless displays connections in windows 10 on Thursday, November 29, 2018 4:21 AM
If you are getting trouble to getting support the Bluetooth than this will be getting problem through the driver of the Bluetooth.
Reply to comment


Amrita Spa on Saturday, December 01, 2018 4:28 AM
Reply to comment


Ruchika Jain on Friday, December 07, 2018 8:52 AM
Reply to comment

Add a Comment

Your Name:
Email Address: (Required)
Website:
Comment:
Make your text bigger, bold, italic and more with HTML tags. We'll show you how.
Post Comment