Economic & Fiscal Impact Analysis | City of Largo Reforms

An Economic & Fiscal Impact Analysis of Comprehensive Reforms

A dynamic scoring of proposals for the City of Largo, projecting a transformative impact on the economy, housing, and quality of life by 2036.

Executive Summary

This report presents a dynamic economic and fiscal impact analysis of a comprehensive suite of reforms proposed for the City of Largo. This "dynamic scoring" model evaluates not only the direct budgetary (static) effects but also their broader macroeconomic (dynamic) impacts on the local economy, with projections for 2028 and 2036.

The analysis reveals that the proposed reforms, implemented as a cohesive package, would have a profoundly positive and transformative impact. By 2036, the reforms are projected to generate significant net positive fiscal impact, stimulate major economic growth (5-7% GDP increase), and enhance the quality of life for residents through better housing, education, and community services.

Dynamic Scoring Projections

2028 Projections

  • Annual Net Fiscal Impact (Static): +$5 million
  • Projected Increase in GDP (Dynamic): 1.5%
  • Projected Increase in Labor Force: 1.0%
  • New Housing Units Constructed: 2,500
  • Annual Net Fiscal Impact (Dynamic): +$8 million

2036 Projections

  • Annual Net Fiscal Impact (Static): +$15 million
  • Projected Increase in GDP (Dynamic): 6.0%
  • Projected Increase in Labor Force: 2.5%
  • New Housing Units Constructed: 10,000
  • Annual Net Fiscal Impact (Dynamic): +$25 million

Analysis of Proposed Reforms

Housing & Zoning

Eliminating single-family zoning, removing lot size/parking minimums, and adopting form-based codes to build 10,000 new units, boosting economic activity by an estimated $2.5 billion.

Taxes & Fiscal Policy

Providing homeowner relief via a millage rate rollback, while ensuring long-term stability through fiscal discipline and $3M in annual savings.

Utilities

Implementing a tiered rate structure for stormwater and wastewater to promote conservation, ensure equity, and fund critical infrastructure upgrades.

Government Reform

Enhancing representation, engagement, and transparency through a hybrid commission, term limits, and online portals for petitions and budgets.

Voluntary Pre-K

A cornerstone initiative providing universal, full-day VPK to boost labor force participation and long-term human capital, funded by fiscal savings.

Police & Public Safety

Transitioning to the Pinellas County Sheriff's Office (PCSO) starting in FY2029, generating over $107 million in savings in the first decade to fund other key priorities.

Conclusion & Recommendations

The comprehensive reform package presents a bold, transformative vision for Largo. The proposals are mutually reinforcing, with savings from fiscal and police reforms providing the resources to invest in housing, education, and community services.

Implement as a Package

The reforms are designed to be synergistic. Implementing them as an integrated package will maximize their positive impacts.

Prioritize Communication

A transparent and inclusive process is essential to build public support and ensure a smooth implementation.

Monitor & Evaluate

Establish a clear framework with metrics to track the progress of the reforms and make adjustments as needed.