How Much Money will Woodmont Generate for Londonderry?

A recent analysis of the fiscal impact of Woodmont Commons says the proposed development could generate as much as $5 million in annual tax revenues for the town.

The analysis, conducted by Development Planning & Financing Group, Inc., estimates the fiscal impact of the development at build-out, or year 20, as $5,109,000. The figure takes into account commercial and residential property taxes and motor vehicle permit fees.

[To read the full report, click here.]

Once about $3.7 million in additional expenditures as a result of the project like police and fire services are factored in, the study says the annual net surplus to the town would be about $1.4 million.

The report says the project's commercial tax base of $371.3 million would "bring significant economic and fiscal benefits to the Town" and "help lessen the Town's dependence on residential taxpayers and relieve increasing burden on them."

The Woodmont Commons development calls for the construction of up to 1,300 homes, three hotels and 800,000 square feet of commercial space on 600 acres in Londonderry. The project has been broken into multiple stages, to be reviewed over several months by the Planning Board. The town has set up a section on its website with information on the development. The Woodmont Commons Planned Unit Development (PUD) page includes links to materials provided by developers, the Woodmont Master Plan, Planning Board meeting minutes and more.