Laserfiche WebLink
City Council Finance Committee <br />Meeting Minutes <br />05/17/19 <br />Page 5 of 6 <br />Committee Members and staff discussed smoothing any seasonal impact and any <br />outlying revenue or expense items. <br />Finance Committee Members and staff discussed that there needs to be <br />disclosures on the dashboards regarding variances from Tyler. Chairperson <br />Maloney stated that the Committee would let staff work on the process, formats <br />and details. <br />The reports and corresponding narrative can be located in the packet of the May <br />17, 2019 Finance Committee Meeting. <br />FISCAL IMPACT ANALYSIS FOR PARCEL 0 <br />Planning and Building Safety Director Rob Zuccaro stated that the final McCaslin <br />Parcel 0 Redevelopment Study was presented to the full City Council on February <br />5, 2019, and that the Finance Committee requested a review of the fiscal analysis <br />information presented in the Study. <br />Director Zuccaro stated that the City's Fiscal Impact Model was used with market <br />information provided by the City's consultant, EPS, and that Tischler-Bise added <br />hotels to the Model. Director Zuccaro stated that for data not provided, the City's <br />standard assumptions were used, and clarified that the Fiscal Impact Model's fiscal <br />analysis was written for new development, not for existing redevelopment. <br />Lastly, Director Zuccaro stated the Model can be used for a spectrum of concepts <br />that can then be tested against market analysis and public support. <br />Finance Committee Chairperson Maloney stated that numbers seem conservative <br />and that a range of 2-3 product types, which are median for Louisville, should be <br />tested. Director Zuccaro stated there is concern that staff may be accused of <br />inflating mixed use numbers. <br />Chairperson Maloney stated to Director Zuccaro that the Model should be tested <br />against other projects in the City, but that he is fine with moving forward. <br />Finance Committee Member Lipton stated that descriptive footnotes and proper <br />titles need to be added to Study tables and that the Model needs to be able to <br />demonstrate diversity. Member Lipton suggested testing a low -end boutique hotel <br />project on Highway 42. Member Lipton stated the Fiscal Impact Model is a <br />Directional Model. <br />The reports and corresponding narrative can be located in the packet of the May <br />17, 2019 Finance Committee Meeting. <br />SALES TAX REPORTS FOR THE QUARTER ENDED MARCH 31, 2019 <br />6 <br />