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September 28, 1987 <br /> Page Five, <br /> Highway M. A second outside eastbound lane would be added on the south <br /> side to accomodate right turn traffic into Menard's. RPC staff has <br /> stated that these roadway improvements are appropriate and a reasonable <br /> reflection of traffic generated by the proposed development. Further, <br /> the staff has indicated that the County has received approval for fed- <br /> eral funds to install a traffic signal at the intersection of County M <br /> and Mineral Point Road in 1989. In addition, the County Highway and <br /> Transportation Department has proposed a major resurfacing in 1988 on <br /> Mineral Point Road between County M and County P (about 6.4 miles) . <br /> This will provide an improved two-lane roadway with added passing lanes <br /> at key intersections, including that with Pleasant View Road. This will <br /> be about a $1,000,000 project with 75% from Federal Aid Secondary funds <br /> and 25% from the County. <br /> Obviously, the Tamarack Trails and Oakbridge neighborhoods are concerned <br /> about the volume of traffic east of the Beltline on Mineral Point Road <br /> and through their neighborhoods due to increased traffic from the north. <br /> Their concern is made worse by a string of retail shopping centers that <br /> have been approved by the City of Madison. <br /> The bottom line is that although traffic concerns are certainly legit- <br /> imate in this area, County staff has indicated that in their expert <br /> opinions Menard's will not significantly add to this problem. There is <br /> no way that Mineral Point Road, particularly west of the Beltline, is <br /> ever going to become another Odana Road in terms of traffic. <br /> 5. What are the economic benefits of this proposal? <br /> Regarding economic benefits, net property tax benefits and the net <br /> benefit of new jobs must be considered. <br /> This project will add improvements of $2,700,000. This does not include <br /> the land value, cost of the public water and sewer improvements nor the <br /> roadway improvements of over $250,000. <br /> According to the Wisconsin Department of Revenue, if the 2.7 million <br /> dollar value is added, the Town of Middleton would realize approximately <br /> $2,500 per year of increased property tax revenues. There would be no <br /> change in State shared revenue since the Town is not currently eligible. <br /> Obviously, the land value would be increased in the development so the <br /> property taxes realized to the Town would be somewhat greater than the <br /> $2,500 figure. <br /> In terms of new jobs, this proposal will employ between 80 and 125 <br /> people, based upon seasonal fluctuations. The creation of new jobs will <br />