FAQ : Economic Impacts
M3's objective is to work closely with neighbors and the Eagle community, listen well and keep the community informed about the process and progress of the master-planned community of M3 Eagle.
At build-out in 2030, how much land within M3 Eagle will be devoted to commercial business space?
M3 Eagle will incorporate approximately 245 acres of village center/mixed-use commercial space at build-out. The commercial space is proposed to be phased into the M3 Eagle master plan beginning in year four of development.
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At build-out, an estimated 3,490 individuals will be employed within the M3 Eagle development: 2,550 in the commercial employment sector, 550 working from home, and, 390 through public school employment.
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M3 Eagle is forecasted to yield a significant stream of property tax revenues. In year one, M3 Eagle is projected to generate nearly $1.76 million in local property taxes expressed in 2006 dollars. By year five, property tax revenues will grow to $10.5 million and will more than double by year 10 to $24.6 million. At build-out, the M3 Eagle development is projected to generate nearly $45.5 million in residential and commercial property tax revenue on an annual basis (also expressed in 2006 dollars).
Click here to view a PDF document of projected annual property tax revenues.
Note: Taxes will also be paid to other property taxing authorities in the area.
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M3 Eagle is anticipated to need 4 elementary schools, 1 middle school, and 1 high school. The Joint School District No. 2 (Joint School District #2), which serves M3 Eagle, has traditionally built the public schools in the district through the passage of revenue bonds which must be approved by 2/3 of the voters in the district. The M3 Companies is working with the district to explore alternative strategies and methods of financing to assure that the schools are built in M3 Eagle at the time they are needed.
M3 Eagle will dedicate all of the school sites to the school district free and clear with offsite improvements completed.
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The 7,153 residences projected for the M3 Eagle development represent 6.5% of the total household additions (109,120) that are projected for Ada County during the 2005-2030 period.
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