Client: Symmetry Companies

Symmetry Companies retained Gruen Gruen + Associates (GG+A) of the fiscal benefits and economic impacts of the proposed STL405 development (“STL405”) on the city of Flagstaff Symmetry Companies (“Symmetry”) proposes to construct on a 405.35-acre site in Flagstaff.

Planned uses for the site include a 59-acre STL405 Resort Lodge & Village including a 250-room lodge, 80 branded residential units, 65,000 square feet of retail space, 35,000 square feet of spa/fitness/training space, and an 18-hole Championship Par 3 golf course. The project also includes
21 Custom homesites, 38 Developer-Builder homesites, 14 attached units, a nine-hole “Family Golf Experience”, and a 10,000-square-foot member amenity space with bocce, pickleball, bar and lounge, kitchen, golf shop with simulators, cart storage, lockers, adult pool, observation tower, and two 3,000 square foot penthouses; and single-family housing units.

To evaluate the fiscal benefits associated with the STL405 development, GG+A estimated the annual revenue potentially generated by the proposed development for the city of Flagstaff General Fund, Highway User Revenue Fund, Secondary Property Tax Fund, and BBB Funds for beautification, economic development, tourism, and arts and science.

Sources of revenue estimated include property tax, state shared taxes, transaction privilege tax, bed, board and beverage taxes and franchise fees.

The economic impact analysis quantifies the number and type of jobs estimated to result from development and operation of the project within the local economy. Labor income and industry output impacts are also quantified.

An extensive report including executive summary was prepared documenting the methodology employed and assumptions and estimates used to make the forecasts of the various tax revenues and economic impacts attributable to the various components of the proposed development. An “information graphic” summary of the report was also prepared.