Rezoning the property would transform an open sand & gravel pit into a mixed use development that will generate far more real estate tax revenue for the Town.
New real estate tax revenue estimated to reach nearly $4 million per year (at full buildout), all of which goes straight to Lancaster’s approximately $20 million Town budget
Plus a one-time approximately $650,000 payment to the Town from the State under 40R & possibly school stabilization funding provided under 40R & 40S.
Lancaster is facing a fiscal crisis, with critical municipal services expected to be cut without new sources of income
