Development of the Village of Baxter and Bradley Park To Provide a Positive Net Economic Benefit To York County
November 8, 1999

The Clear Springs Development Plan for the Village of Baxter and Bradley Park communities in the Fort Mill area of York County, S.C., will produce a variety of net benefits for the county over the next 20 years, according to a recent study by the Center for Applied Real Estate Education and Research (CAREER) of the Darla Moore School of Business at the University of South Carolina.

CAREER used a three-part methodology to determine the net fiscal impacts of Baxter and Bradley Park. The methodology, developed by the Urban Land Institute, specifically looked at the anticipated revenues/expenses for York County and York County School District Four.

The research team was led by Dr. Douglas Woodward of the Darla Moore School of Business and research associate John Kilpatrick. "This study is meant to be a roadmap to aid local community leaders in planning for the future," Woodward said. "While conservative assumptions are used throughout the analysis, the fiscal impacts are nevertheless clearly positive."

"While the magnitudes may change as the community develops, it is the judgment of the researchers that the entire York County/Fort Mill community will derive net fiscal benefits from the Clear Springs Plan for years to come," he said.

Residents of the Village of Baxter and industry in Bradley Park will generate $25 million in school construction property taxes over the next 20 years, compared to $16 million it will cost the county in school construction costs during the same 20-year period, the USC study reports.

"There is a common misconception that new development never pays for itself in terms of additional tax revenues. From the beginning of our planning process, it was our intention to have a development that would enhance quality of life and produce positive economic results," said James Traynor, president of Clear Springs Development Company. "This study makes clear that the homes and businesses in Baxter and Bradley Park will benefit York County, far beyond the cost of providing additional public services.

"Construction-related taxes from the development in Baxter and Bradley Park will actually aid in underwriting school construction costs for the district as a whole," Traynor said.

CAREER, affiliated with the Division of Research at the Darla Moore School of Business at USC, was commissioned by Clear Springs Development to perform an economic analysis of the Clear Springs Plan. The initial study considered the entire 6,200-acre plan and its economic investment in York County over 20 years, while the latest study addressed the net fiscal impact of Baxter Village and Bradley Park for local government.

In addition to additional property tax revenue generated by Baxter and Bradley Park, Woodward estimates that the communities will generate an additional $3.4 million annually at build-out for the county's general fund.

In addition, water and sewer revenues from Baxter and Bradley Park are expected to be $3.2 million at build-out. In comparison, the cost of providing water and sewer services to both communities is estimated at $2.8 million.

"At full build-out, York County will generate about $400,000 per year in water and sewer revenues above the cost of delivering utility services to Clear Springs," Woodward said.

The 1,000-acre Village of Baxter, located 20 minutes from uptown Charlotte in the southwest quadrant of SC Highway 160 and Interstate 77, is a traditional neighborhood featuring more than 400 acres of open spaces and offering single-family homes and townhomes, as well as commercial sites.

Modeled after small towns of the Southeast, Baxter's traditional architecture will reflect the style and character of the upcountry South Carolina region. Features such as front porches and abundant sidewalks will orient activity to the front of homes, promoting a pedestrian-friendly community.

For more information on Baxter, call (803) 802-TOWN or toll free (877) 570-HOME. The Baxter Information Center is located at Baxter's main entrance off Highway 160 and Interstate 77 at Exit 85.

Bradley Park is an industrial development site located southeast of Baxter. The park is located on a rail line, making it convenient for industrial development.