Planning Commission Minutes 2015 12 10

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Planning Commission Meeting Minutes December 10, 2015 Page 8 of 29 Comp Plan does identify this as an urban corridor. The Comp Plan says any development should produce a positive fiscal return to the City. That is as descriptive as it gets. When you look at the Comp Plan, we look at character, housing, parks and recreation, and transportation. We look at the Comp Plan in its totality. This is just one element of the Comp Plan. All rezoning needs to be consistent. Staff believes, based on this fiscal model, that it is consistent with the Comp Plan. We can also determine when retail is occupied or leased in this model. The numbers before you show that retail would be leased the first year in all three scenarios, the GDP, Model Number, and the Developer's Number. If the market for some reason can't produce that retail square footage until year 10, you do see a negative fiscal return from the Developer's Number and very minor positive returns from the other two. Questions from Planning Commission regarding Fiscal Model: Russell asks about "leased in the first year" means Day 365, and if the commercial is leased in the first year or by the end of the first year. Russ says we assume it is occupied and sales tax is being produced by the end of the first year. Russell points out Scenario 1, Developer Number, the input for market units says 18 persons/unit. I am looking at the hard copy. Is that a typo in the report? If that is inaccurate data, it is translating into the numbers. Russ clarifies it is the Back -Up Tables. It is an Excel spreadsheet and it hasn't been edited. I will put in 1.8 instead of 18 persons. Moline asks about the Net Fiscal Result. Why are there such big differences between the developer numbers, the model numbers, and the original GDP? Russ says in the City Budget, there are different funds within the budget. They each have revenues and expenditures. The development influences all of those. We have sales tax revenues that fund a number of these and the persons/household have disposable income. That disposable income influences sales tax which goes into the different funds. This reflects the adopted budget. Revenues such as property tax, sales tax, and other forms the city gains equate to the revenue. The expenditures within those funds are what the level of service is, for example, a trail. We have a certain linear feet of trail that is a minimum expectation based on population. Based on this population growth, we need so many linear feet of trail. Those come back to the expenditures such as police service, library service, City Manager service, and planning department service. We have it broken out by each department type within each of these funds. The combination of the two under the Net Fiscal Result is the revenues and expenditures and the difference based on the adopted budget. That is why it is a point forward. Regarding the big differences between the developer numbers, the model numbers, and the original GDP is Commissioner Russell's catch, the difference between 1.8 and 18. The 18 is going to generate a higher expenditure on the City, but it will increase the revenues as well. It is based on households so it may not be as dramatic on the revenue side whereas it will be dramatic on the expenditure side. McCartney continues presentation. This application is for a replat to an existing plat but we are combining two plats. We are combining the Takoda subdivision as well as the Summit View subdivision. It is broken up into Tracts A, B, C, and D and Blocks 1, 2, 3, 4, 5, and 6. 1.6 acres Takoda Properties Inc. Access/Access Drive/Parking .22 acres Takoda Properties Inc. Public plaza, parking 1.03 acres Takoda Properties Inc. Parking/Highway 42 Access �!� .67 acres Takoda Properties Inc. Parking