New Red Line Maps and First Impressions

New Red Line maps were posted Thursday, so residents can now see how they will be impacted - at least partially.  See here at DavidsonNews.net for the story.

The maps detail out whether or not a parcel is subject to the proposed SAD.  However, the important details behind the SAD have not been included in the map - details such as what the new SAD rate will be and the rationale for why some parcels are included vs excluded.  The current understanding is that the new proposal will be something less than the original 75c/$100 value which has caused much concern in the business community.

Davidson's map had some of the more significant changes.  It is now significantly smaller than the original.  Two of the bigger changes appear to be that most of the West Side neighborhood and the College properties have been removed.  This would appear to be a good thing and more transparent.  Not including the West Side residential areas will allow the Town to keep 100% of the tax increment for any development that occurs there in the future.  It also may slow or reduce gentrification to a degree which is definitely a good thing.  Not including the College makes the map more transparent.  The College would have made no difference to the finances of the project because it's tax exempt from the SAD and TIF which means any value increases or new building on College property would have no impact.  However, the old map made it look like Davidson had a "bigger" area devoted to the red line.

Maybe most importantly for initial analysis, the new maps show how many parcels will be included in the SAD.  It appears Davidson has a little over 80 parcels which means roughly 40+ parcel owners have to agree to be included in the SAD.  However, that probably doesn't mean 40+ individuals.  Some owners own multiple properties and will likely receive multiple votes.  If that's the case the number of owners approving the SAD could be as low as a dozen if the Town can corral those specific owners.  (See below update)

That will be the most interesting part to watch locally going forward.


UPDATE:  At least 3 of the SAD parcels are commercial condos which may mean each condo unit has a vote.  That would possibly increase the number of SAD voters by about 26 making getting to 50% more of a challenge.