Ordinance 2008-1539 - Laserfiche WebLink

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Data sources Data for all methods except land bank were: • Retrospective of eight years. • Based on previous sales tax data collected from municipal budgets. • Population and household data from DRCOG (available starting in 2000). • Spending power data from PCensus AGS database on spending power. • Consumer spending data from Bureau of Labor Statistics Consumer Expenditure Survey. For the land bank model that data was derived from: • Prospective analysis for 30 year developmeent time frame. • Data came from potential retail development as outlined by municipal comprehensive plans and city/town planners. • Assumed a FAR of .25. • Retail sales of $350 per square foot. • Assessor's data for Boulder County -with equivalency adjustment for agricultural properties zoned for commercial/retail. • Assessor's data from Weld County. Considerations for Evaluating the Methodologies The considerations established to evaluate the methodologies were: / Encourage sound land planning / Promote revenue stability/predictability / Reduce economic development competition and need for incentive packages / Discourage overbuilding of retail / Protect self-determination in development decisions / Allow municipalities budget flexibility to meet service needs Description of Methodologies 1. Population Population is a relatively simple method by which ito share revenue. This model illustrated 1% incremental sales tax revenue collection for sharing each year, whichi was then pooled and distributed per capita to each city/town. • Determined what percentage of the total population of participating entities each city/town contributed for each year. • These percentages were applied to the incremental sales tax revenue pooled for that year, and redistributed incremental sales tax based on share of total population. 2