Laserfiche WebLink
<br /> City Council <br /> Meeting Minutes <br /> December 19, 2006 <br /> Page 6 of 13 <br /> Council member Muckle asked if the project would be impacted if a significant <br /> amount of the sales tax increment was removed. Mr. Burch stated if a portion of <br /> the sales tax were removed it would have an affect on the operational side of the <br /> equation. He stated in the analysis, Ithe 1 % and .375% dedicated to capital <br /> improvements and open space acquisitions have already been removed. The <br /> fiscal analysis would be impacted if a portion of the 2% dedicated to the general <br /> fund were removed. <br /> Council member Muckle voiced his support for the project, the open space, parks <br /> and all the amenities. <br /> Council member Yarnell voiced her overall support of the project. Her concern <br /> centered on the lack of affordable housing. She suggested Council consider <br /> affordable housing in every development proposal. <br /> Mayor Sisk stated his understandin~1 the property tax the City would collect with <br /> this development, would otherwise be collected by other jurisdictions. Mr. Burch <br /> stated his understanding those property taxes flows into the urban renewal area, <br /> and can be used for purposes determined by the urban renewal authority. <br /> Mayor Sisk asked what 65,000 square feet of retail would generate per square <br /> foot in property tax assessment. Mr. Burch stated the fiscal analysis utilized the <br /> calculations in the Comprehensive Plan. He estimated on an annual basis <br /> through the urban renewal authority" approximately $1.40 per square foot would <br /> be generated on retail space. <br /> Mayor Sisk requested public COmmElnt and hearing none, closed the public <br /> hearing. <br /> Mayor Pro Tern Brown supported affordable housing, but noted Council must <br /> give direction to the developer. <br /> Mayor Sisk stated the Metro Mayors' have a low interest loan program. He <br /> suggested Council continue its commitment to low interest loans. <br /> Council member Marsella stated the~ City Attorney and the Planning Oirector are <br /> working with the Housing Authority on an affordable housing ordinance, which <br /> could be combined with the Metro Mayors' low interest loans. <br /> Council member Yarnell voiced her appreciation for the discussion on affordable <br /> housing. She urged Council to continue to seek affordable housing in new <br /> developments to the City. <br /> MOTION: Council member Muckle moved to approve Ordinance No. 1505, <br /> Series 2006, seconded by Council member Clabots. Roll call vote was taken. <br /> The motion carried by a vote of 7-0. <br /> - <br />