The cost of revitalization: A development feasibility study for the central business district of Downtown Lubbock, Texas
The purpose of this thesis is to examine the feasibility of relocating the overhead utilities in the Central Business District (CBD) in Lubbock, Texas into underground duct banks in order to encourage development. Currently, the configuration of the existing tracts of land with the overhead utilities do not allow for the maximization of the full city block. It is believed that in order for development to be feasible, the city of Lubbock and the Central Business District TIF has to pay the cost of relocating the utilities. In order to examine the feasibility of development, a static cash flow analysis is performed on several prototypical sites based on current market assumptions. Each of the prototypes used in this analysis conform to the existing and proposed regulatory framework established by the city of Lubbock.