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<br />Laus stated that the analysis took into consideration the top 50 sales tax payers in the City and <br />nationwide industry norms. The $200/SF is conservative because the City has some at $300/SF. <br /> <br />Kalish asked what the difference is between the analysis done for the South Sub-area and the STK <br />analysis. <br />Laus stated that this analysis is based strictly on the development of STK. It does not include the <br />hospital and senior housing, the CTC or Archdiocese properties. It does contain the same <br />assumptions and the market value as for high-end multi-family residential. <br /> <br />McDermott asked what the timing was for the revenue and expenditures. <br />Laus stated that the timing is based on a 20-year build-out schedule, with equal development each <br />year. <br /> <br />McDermott asked if the expenditures would come before revenue. <br />Laus stated that is not necessarily the case because the net effect is minimal. <br /> <br />Lipton asked how inflation was included in the analysis scenarios . <br />Laus stated that inflation factors were not included. <br /> <br />Lipton inquired if the model could accommodate other build-out. <br />Laus replied that it could. <br /> <br />Lipton stated he was interested in seeing a 20-year annualized cash flow analysis. <br />Laus stated that would be possible but in a different format. <br /> <br />Lipton then asked for information regarding marginal vs. average cost. <br />Laus stated there are two methods used for fiscal analysis: marginal and average cost. The <br />average cost was the method used by the City. She also stated that in the long term they would <br />balance out between the two methods. <br /> <br />McAvinew asked if it was fair to say that it is difficult to come up with something absolute. <br />Laus replied that it is best to look at relative values between scenarios with this model. <br /> <br />Pritchard and Robson had no questions at this time. <br /> <br />Lipton requested that the Commissioners summarize what they would like to have available for <br />their review prior to making any decisions. The group detailed the following: <br /> <br />1.20 year annualized cash flow <br /> <br />2.marginal vs. average cost discussion <br /> <br />3.build-out assumptions for each scenario. residential, commercial and industrial <br /> <br />4.clarification of the difference between property value and market value <br /> <br />5.clarification of sales tax assumptions. Laus replied that the sales tax information is <br />confidential. <br /> <br />Public Comment: <br /> <br />Lipton then asked for additional public comment, reminding each person to give name and <br /> <br />5 <br /> <br />