City Council Agenda and Packet 2007 01 02

Home Browse Search

.. [}Jflj@fA&T? City Council Meeting Minutes December 19, 2006 Page 6 of 13 Council member Muckle asked if the project would be impacted if a significant amount of the sales tax increment was removed. Mr. Burch stated if a portion of the sales tax were removed it would have an affect on the operational side of the equation. He stated in the analysis, the 1 % and .375% dedicated to capital improvements and open space acquisitions have already been removed. The fiscal analysis would be impacted if a portion of the 2% dedicated to the general fund were removed. Council member Muckle voiced his support for the project, the open space, parks and all the amenities. Council member Yarnell voiced her overall support of the project. Her concern centered on the lack of affordable housing. She suggested Council consider affordable housing in every development proposal. Mayor Sisk stated his understanding the property tax the City would collect with this development, would otherwise be collected by other jurisdictions. Mr. Burch stated his understanding those property taxes flows into the urban renewal area, and can be used for purposes determined by the urban renewal authority. Mayor Sisk asked what 65,000 square feet of retail would generate per square foot in property tax assessment. Mr. Burch stated the fiscal analysis utilized the calculations in the Comprehensive Plan. He estimated on an annual basis through the urban renewal authority, approximately $1.40 per square foot would be generated on retail space. Mayor Sisk requested public comment and hearing none, closed the public hearing. Mayor Pro Tem Brown supported affordable housing, but noted Council must give direction to the developer. Mayor Sisk stated the Metro Mayors' have a low interest loan program. He suggested Council continue its commitment to low interest loans. Council member Marsella stated the City Attorney and the Planning Director are working with the Housing Authority on an affordable housing ordinance, which could be combined with the Metro Mayors' low interest loans. Council member Yarnell voiced her appreciation for the discussion on affordable housing. She urged Council to continue to seek affordable housing in new developments to the City. MOTION: Council member Muckle moved to approve Ordinance No. 1505, Series 2006, seconded by Council member Clabots. Roll call vote was taken. The motion carried by a vote of 7-0.