 Economic Impact of Second-Home Communities: A Case Study of Lake Latonka, PaBrown, Richard N., No 323918, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service Abstract: This study describes the transformation of 1,275 acres of Pennsylvania farmland into a 1,600-lot second homesite subdivision with a 270-acre lake. The study estimates that the first $7 million of development activities at Lake Latonka could generate $14 million of business activity before 1970, with less than 40 percent of the total accruing to local businessmen. Financing of development activities is expected to have a significant impact on the local area. Variable use and special use expenditures of homesite buyers and their guests generated $2.6 to $6.7 million of economic activity during 1965-70, with half of this total accruing to local businessmen. After 1970, however, use expenditures are expected to generate $0.5 to $1 million annually. Maintenance expenditures, initially small, will produce $0.3 to $0.6 million of gross business activity annually by 1975. The report also discusses the new community's impact on real estate taxes and demand for public services from adjoining communities. Keywords: Community/Rural/Urban Development; Financial Economics; Land Economics/Use; Public Economics; Resource/Energy Economics and Policy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:323918 Access Statistics for this paper More papers in Miscellaneous Publications from United States Department of Agriculture, Economic Research Service Contact information at EDIRC. |
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