Tax Information And Guide

Tax Software Greenwich Township planning officials have turned down a national developer's proposal for the township's first age-restricted development.

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Software Tax The planning board this week denied Pulte Homes' request to build 289 single-family homes marketed to people 55 and older on 85 acres behind the Greenwich Center shopping plaza.

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Every Landlord Tax Deduction Frank Marchetta, the mayor and a planning board member, said the proposal didn't fit in with the vision for the township, which has been the fastest-growing in the state.

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Tax Help According to the master plan, Greenwich's remaining residential-zoned land can accommodate another 335 homes, he said.

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Help Tax The land Pulte is eyeing is zoned for industrial and retail. If it was changed to residential, Marchetta said that would be allowing more homes than in the master plan.

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Ernst Ernst Guide Guide Tax "With a nice outlook like that, why would we even consider a development that would almost double that number?" he said.

Tax Return Pulte first came before board members in June to gauge whether they would even entertain the idea. In September, the board agreed to hear a formal presentation.

Return Tax At a special meeting last month, the developer covered aspects of the proposal from the site plan to environmental concerns, as well as potential traffic and fiscal impacts.

Guide Guide Master Master Tax Pulte's traffic expert said age-restricted communities tend to generate far less volume, especially compared to a shopping center.

Tax Preparation During the morning rush hour, a shopping center would produce up to 500 trips, compared to only 70 with the adult community, the developers have said.

Preparation Tax During the evening rush hour, a shopping center would have 3,000 trips, while the adult community would have 100. On Saturdays, it would be 3,000 compared to 80.

Employer Tax Guide Pulte's fiscal expert said the proposed development would add roughly $89.3 million of assessed value to the tax rolls, while costing the township much less for municipal services.

Tax Services Overall, the development would generate about $1.8 million in county, municipal and school tax revenues, while costing $300,000, resulting in a $1.5 million surplus, according to the developer.

Services Tax In comparison, a 600,000-square-foot shopping center on the same site would bring in $910,000 in tax revenues, while costing $200,000, resulting in a $710,000 surplus.

Master Tax Guide Pulte's planner also stressed that the proposal would achieve goals set forth in the township's 1998 master plan, including providing a type of housing that doesn't exist and directing development from the rural to more dense areas.

Tax Attorney Despite Pulte's arguments, the board voted against the project with two members dissenting.

Attorney Tax Planning Board Chairwoman Doris Rayna said Pulte did not indicate in any way what benefits Greenwich would reap from the development.

Guide Law Tax "I'm not sure that our area really needs senior housing that starts at $305,000," Rayna said.

Tax Accountant She also was not in favor of the density of Pulte's proposal. Plans showed 3.4 dwellings per acre.

Accountant Tax "We're not interested in high density," Rayna explained.

Circular Employer Tax Guide Marchetta agreed.

Income Tax It doesn't matter whether homes are age-restricted or not, he said. The high density is the issue.

Us Master Tax Guide "They look to maximize their profits, not to make it aesthetically pleasing," Marchetta said.

Property Tax Rayna said she expects that Pulte will tweak its numbers, then come back to the board.

Irs Tax Form She said she couldn't say whether the developer would be better received the next time around.

Form Irs Tax "It depends," she said.

Tax Guide For Trader By Linda Lisanti
The Express-Times - 4/17/2004

Topic: Less Sprawl

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