Business Retention and Development Committee Agenda and Packet 2017 06 05

Home Browse Search

Business Retention & Development Committee Meeting Minutes May 1,2017 Page 2 of 3 APPROVAL OF AGENDA Approved PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA: None OPEN GOVERNMENT PACKET: As this is the first meeting for the newly formed BRaD Committee, DeJong asked everyone to review the Open Government pamphlet in the packet. CITY TAX REVENUES DeJong gave a presentation on the status of the City's revenue sources. The sources discussed included; Sales Tax, Property Tax, Building Use Tax, Consumer Use Tax, Lodging Tax, and Auto Use Tax. Overall, looking at all the tax collections in Louisville shows the City is in a strong fiscal position regarding revenues to accommodate the expenses and investments planned by the City for 2017. Granted, Louisville's ability to receive revenue is reliant upon the regional economy remaining strong. The makeup of Louisville's businesses has become more diverse, providing greater resiliency to the area's employment and businesses. This helps reduce the risk of large decreases in revenue as it is unlikely that all employment sectors in Louisville will experience significant reductions at the same time. PARKING IMPROVEMENT FEE DeJong gave a presentation on Staff's analysis and recommendation to set a new Parking Improvement Fee for downtown. Staff's recommendation was: Year Parking Improvement Fee 2017 $13,000 2018 $14,000 2019 $15,000 Annually Previous year amount x Denver All Item CPI (CPI increase from 2018 to 2019) The BRaD Committee members expressed concern that the increase was high compared to the current rate and that putting the Fee at $13,000 per space would deter projects from proposing to pay the fee. Also, they suggested the discussion of the amount of the Parking Improvement Fee should be informed by information and recommendations that will come from the future planned parking analysis. Members also suggested that if the Fee is set significantly higher than the current $3,600, then a parking plan should be in place to outline projects where the Fee would be spent so those paying the Fee could better understand when and where they could expect to see the parking that would be created with the Fees they pay. Members of the Committee also suggested that because the current Fee is so much lower than the actual cost of providing parking spaces, it would be reasonable to increase the Fee by some amount,