City Council Study Session Agenda and Packet 2008 05 13

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SUBJECT: UPDATE/DISCUSSION - REVENUE STABILITY WORKGROUP DATE: MAY 13, 2008 Leakage Adjustment, where allocatic-n helps to balance revenue among communities that "import" or "leak" shoppers. Regional Land Banking under which each community would "contribute" to a pool of future regional retail sites and, basecl on the percentage of land contributed, receive that proportion of the revenue generated from the pool. There are pros and cons with each of these methods, depending on what assumptions are made each approach generates "winners and losers" when compared with the status quo, and there are additional challenges in addressing "edge city" issues that affect municipalities on the border of Boulder County. The Group is wrE:stling with all of these challenges and continuing to work collaboratively to come up with action steps that may help minimize the core problems of unstable revenue sources and competition among municipalities for limited retail that can influence municipalities to offer larger incentives than are warranted or permit land uses that they would not otherwise approve. FISCAL IMPACT: In 2007 Louisville contributed $7,000 to help fund the initial $49,000 cost of consulting services for this project. Since that time Boulder County has secured additional grant funding from the State Department of Local Affairs to assist with implementing the recommendation of the Group. RECOMMENDATION: Discussion only.