Bedford-West Urban Renewal Area (Mass. R-182)

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Potential adverse impacts, however, may be created by the amount of vehicular traffic that may be generated by a hotel use.
(c) Institutional A tax-exempt institutional use of the site, although it may be considered compatible with the character of the surrounding area, would be fiscally undesirable from the City's point of view. Currently, over 50% of the City's taxable property is in tax-exempt institutional use. Development of this high-value downtown property for a tax-exempt institutional
...use, therefore, is both inappropriate and contrary to the expressed policy on institutional development of the Mayor. It is estimated that the potential tax-yield from the property, if fully developed for commercial use within the controls of the Urban Renewal Plan, would be approximately 1 $1 million annually.
1 Based on 400,000 square feet of retail/office Space $10 per square foot rental average; tax equals 25% of gross rental.
- 32 (d) Open Space Similarly, use of the site for open space would be economically unjustified.


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