myth and fact
“...introducing higher-density projects into a community will actually increase that community’s revenue without significantly increasing the infrastructure and public service burdens. Blending apartments into low-density communities can help pay for schools without drastic increases in the number of students. Diversifying housing options and adding amenities like shops and offices close by will improve the quality of life and attract businesses and people that will strengthen the community’s economic stability. Increasing density provides a real economic boost to the community and helps pay for the infrastructure and public services that everybody needs.”
The Magnolia development will bring many benefits to the local community, in addition to much-needed market rate and affordable housing.
Enhanced Lighting at Santiago Park As Well As City-Wide Park Improvements
Community Bike Sharing
25 Electric Vehicle Charging Stations
24-Hour Security Patrol In Local Neighborhood
Hiring Of More Police Officers
Local Commercial And Retail Businesses Will Thrive With Influx of New Consumers
Increased Tax Dollars From New Resident Spending
Local School Benefit
Total student enrollment in SAUSD and Hoover Elementary show declining enrollment over time. Because the addition of new families may increase demand for public schools, the schools may see a positive benefit from the Magnolia development in two distinct ways:
1. Payment of School Facilities Fees for New Development, which currently is about $3.48/sf in school facility fees.
Magnolia Net Rentable SF = 406,992 SF
$1,416,332 IN SCHOOL FACILITIES FEES
2. Schools receive funding based on aid from the state, offset by local property taxes. While new property taxes only reduces the amount of state assistance and provides no net benefit to SAUSD, the addition of new students would have a positive impact on the school district because the amount of state aid is generally based on the average daily attendance.