ESI Senior Vice President and Principal, Lee Huang, will present at the Wilmington Market Value Analysis (MVA) Release at Chase Center in Wilmington, Delaware on February 19th, 2016.
The MVA uses data to explain the local real estate markets, thus helping public and private use properties to issue effective intervention strategies to support struggling markets. The will presentation be followed by a panel discussion, in which Lee will explain how this MVA research will be implemented in Wilmington, Delaware.
ESI produced a cost-benefit analysis making the financial case for a land bank that will create a vibrant and connected downtown area in Wilmington. Based on ESI’s analysis, the Land Bank could generate a net fiscal impact to the City of $2.2 million per year once capitalized at full capacity. These fiscal gains will come from reduced City expenditures, reduction in tax delinquency, more property tax revenues from blight remediation, and reinvestment.
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