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<br />City Council <br />Special Meeting Minutes <br />July 12, 2005 <br />Page 4 of 9 <br /> <br />Leary's opinion the revenues are overstated for commercial sales tax. His <br />concern was the City would be depending on revenue that may not come for a <br />period of time. Mr. Leary agreed the fiscal analysis is a good tool to look at each <br />of the areas of opportunity, however, the process does not tell how many houses <br />the City can absorb. As a final point in Mr. Leary's outline, Mr. Leary suggested <br />that the City should set aside 1/3 of the sales tax revenue to serve existing <br />operating and capital needs, and then determine the number of houses. <br /> <br />COUNCIL QUESTIONS <br /> <br />Council member Van Pelt thanked Mr. Cunningham for his work on the fiscal <br />analysis. She asked if there was any way to do a fiscal analysis without doing a <br />straight line. Cunningham stated it would require monitoring the analysis on an <br />annual basis. <br /> <br />Council member Van Pelt asked Mr. Cunningham to respond to Mr. Leary's <br />opinion that a fiscal analysis is not a good tool to decide upon land uses. Mr. <br />Cunningham agreed with Mr. Leary. <br /> <br />Council member Marsella asked if the fiscal analysis factored in Resolution No. <br />36, which limits the number of houses per year that can be built in Louisville. Mr. <br />Cunningham responded the resolution was factored in the analysis. <br /> <br />Council member Brown asked if the fiscal analysis factored in a market study for <br />retail opportunities. Mr. Cunningham confirmed it did. <br /> <br />Council member Brown asked Mr. Cunningham to compare the fiscal analysis <br />with Mr. Leary's analysis. Mr. Cunningham stated the differences are in the <br />market analysis. <br /> <br />Mayor Sisk asked if there are opportunities for big box stores in Area #4. Mr. <br />Cunningham responded yes and stated there are als opportunities for regional <br />retail. He explained the concept is to mix uses such as residential, office, <br />hospital, and retail. <br /> <br />Mayor Sisk asked if commercial retailers follow residential development. Mr. <br />Cunningham confirmed commercial retailers are attracted to residential <br />development. He noted that retailers are also interested in infill growth. <br /> <br />Mayor Sisk asked Mr. Cunningham for copies of the information he presented for <br />the City Council and the City's Web Page. <br /> <br />Council member Keany stated if the STK site were redeveloped as a regional <br />retail center, would the residential development be required. Mr. Cunningham <br />responded no. <br />