City Council Study Session Summary 2008 09 23

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City Council Study Session Summary September 23, 2008 Page 2 of 4 Director Wood said that there is a new element being added to the Plan concerning sustainable environments brought forward by the Resource Conservation Advisory Board (LRCAB). Director Wood stated that they are currently updating tables and maps in the Comprehensive Plan. Director Wood reminded Council that they had approved a contract with RRC for producing demographic information for the Comprehensive Plan. Director Wood said that RRC would not be able to produce deliverables in time and that the City is using resources available to update the demographic information and will not be using the funds allotted for RRC. Mayor Sisk asked Director Wood to expand on the collaboration with LRCAB. Director Wood said the environment element included energy, habitat and water conservation. Director Wood also said that the they compared the document provided by LRCAB with the current Comprehensive Plan to see if the current plan already incorporated elements of the LRCAB document and recommended to the Planning Commission to eliminate any redundancy between the two documents. Director Wood also expressed his appreciation to Becky Hogan, EDge Consulting, for her input on the economic development section of the Plan. 3. UpdatelDiscussion - Fiscal Impact Model Kevin Watson, Director of Finance, gave a brief background about the Fiscal Impact Model and went over the memorandum included in the packet that included the limitations and changes to the assumptions of the original Leland model but pointed out the methodology is the same. Director Watson also pointed out that the model was designed for a global look of the City not for specific areas of development, although it could be modified for specific use. Director Watson also thanked John Leary for his input and assistance in updating the model. Director Watson pointed out the following limitations of the model: o The model considers only operational revenue and expenditures of the General Fund o The model assumes that capital investment impacts will be similar to historical impacts. o The model analyzes the impacts of new growth only and assumes a current fiscal balance. o The model analyzes the impact of new growth on a relatively large scale. o The model analyzes the impact of new growth over a period of time, not at a specific point in time. Director Watson pointed out the following changes to the assumptions of the model: o Property Tax - The market values and the construction values have been increased an average of 25% over the 2005 model. The 2008 model focuses solely on the General Fund operations, excludes the debt service levy and uses just the general levy of 5.184.