City Council Agenda and Packet 2005 08 02

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City Council Special Meeting Minutes July 12, 2005 Page 3 of 9 Densify Activity in Downtown and Hwy 42 (Mixed-Use) Add Housing Density iri North Louisville Build Economic Development Infrastructure Build-out Under Current Zoning • Limited Residential and Retail Development • 20-year Operating Defi~;,it of $2 to $3 Million • 20-year Capital Deficit of $3 to $4 Million • Both Operating and Capital Deficits Planning Commission Scenariio • Limit Residential Development (1,644 New Units) • Regional Opportunities at STK (250K to 300K SF) • 20-Year Operating Surplus of $4 to $5 Million • 20-Year Capital Deficit of - $100K • Risk in this Scenario -Will Retail Continue to Come? City Council Scenario • Targeted Residential Development (1,998 New Units) • Regional Retail Opportunity at STK (250K to 300K SF) • 20-Year Surplus of $21:0 $3 Million • 20-Year Deficit of $3 to 4 Million • Risk in this Scenario -Will Retail Continue to Come? Capital Cost Impacts Per Household General Government: $261 Police: $333 Land Management: $5,991 Recreational and Senior Servlices: $1,614 Library $200 Transportation $1,389 Total Capital Costs: $9,788 Fiscal Considerations • Emphasis on Quality, Not Quantity of New Development (Type of Housing Matters More than Ho~nr Much) • Majority of New Housing will be Infill Development; Higher Utilization of Existing Infrastructure ~= Lower Capital Costs • Commitment to Vision 'Will Ensure Fiscal Stability (Diligent Monitoring of Growth) Planning Director Paul Wood summarized Mr. John Leary's outline of the fiscal analysis of the Comprehensive Plan. Based on Mr. Leary's outline, it is Mr.