Fiscal Impact Analysis for the Reed Putnam Urban Renewal Area, Norwalk, Connecticut Norwalk Redevelopment Agency retained BFJ to prepare a fiscal impact analysis of proposed mixed-use development options in the City of Norwalk’s Reed Putnam Urban Renewal Area. The 12-acre site in downtown Norwalk is designated to accommodate more than 80,000 sf of office space and hotel uses, as well as retail space and parking facilities.

The analysis compared the existing conditions on the site to an approved development plan and a new development proposal. It quantified the differences among the development scenarios in order to assist the City in formulating policy decisions on the type and size of the site.

The impact analysis involved a review of the market value of existing conditions as well as alternative development scenarios. BFJ also prepared a cost benefit analysis as part of the study.