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<br /> <br />She stated that the analysis could have been done many different ways but the City selected to use <br />the average cost method rather than the marginal cost approach. She acknowledge that it creates <br />a conservative analysis but at this time in the process that is the best route to take. Laus stated <br />that the analysis was based on the following criteria: <br /> <br />1.current cost was used as a bench mark for projections so the current services would be <br />kept at the same level for all residents. <br /> <br />2.fiscal analysis evaluates only proposed development of STK <br /> <br />3.same assumptions applied to all three scenarios <br /> <br />4.does not include schools, regional trail system and health services. Only covered the <br />basics – public safety, parks and open space as provided by the City <br /> <br />5.did not consider the effect on the water and sewer for the City as those are separately <br />funded <br /> <br />6.dictated by ordinance for how certain tax revenues are allocated by the City <br /> <br />7.allocation of cost for residential vs. non-residential. Hard data has been used when <br />available and obtained from department heads. <br /> <br />Laus continued with a discussion of the effect on the City in General and with the Capital Side of <br />the development. She detailed three general comments: 1) with Industrial build-out the net <br />operation deficit is $200K; 2) the next operation surplus at build-out would be $1.2M. the retail <br />provides a large tax to the City; and 3) there is the potential of $500K retail sales tax dollars. <br /> <br />Laus concluded by requesting that the Commissioners ask their specific questions. <br /> <br />Lipton asked each Commissioner for questions. <br /> <br />Susan Loo asked whether impacts to the fire protection district were included in the analysis. <br />Laus replied that the fire district is supported by its own property tax, separate from the City. <br /> <br />Loo asked why the Land Management cost is so high in Scenario #2. <br />Laus replied is based on keeping the same per capita amount of open space / parks as currently <br />available in the City. <br /> <br />Loo questioned if the Police Department takes into account the extra cost of serving a senior <br />related housing development. <br />Laus stated that at the time of analysis the City had not been provided the percentage of senior <br />housing that was to be included, so “no” that was not accounted for. <br /> <br />Loo stated that a criterion she will consider would be related to how property tax will be affected <br />because of the change in fire district tax and school district tax. <br /> <br />Bill McDermott requested clarification of the following points on page #2 of the City of Louisville <br />Fiscal Analysis: 1) market value vs. assessed value; 2) construction value and how that relates to <br />permit and development fees; and 3) is there a way to separate out the land value. <br />Laus provided clarifications on those calculations. <br /> <br />McDermott asked where the sales tax per SF calculation came from. <br /> <br />4 <br /> <br />