Revitalization Commission Agenda and Packet 2020 10 28

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Revitalization Commission Minutes September 9, 2020 Page 3 of 9 Chair Fisher called for a motion to forward budget to Council. Commissioner Adler made a motion to forward the budget to City Council. Commissioner Bradfield seconded. Roll call vote: Commissioner Adler - yes Commissioner Bradfield - yes Commissioner Gambale - yes Commissioner Gorsevski - yes Chair Fisher - yes Council member Lipton - yes Commissioner Tofte — yes Motion passes. • Discussion/Direction- 2021 Preliminary Budget Director Pierce said staff have not received preliminary assessed valuation, which is truly the basis for a preliminary budget. In the memo is a timeline for budget process and summary of planned expenditures. Director Pierce asked for feedback on things Commissioners would like reflected in a preliminary 2021 budget. Commissioner Bradfield asked how LRC will be affected if the Gallagher Amendment B passes. Director Watson said staff has not run projections on residential assessment rate changes. Commissioner Bradfield said sooner or later we will have to look at it and begin planning for that scenario. Director Watson said the Gallagher Amendment and residential assessment rate would not affect revenue until 2022. Director Watson said it is unknown if such a change would increase funds available to the LRC. Chair Fisher asked if the public hearing for 511 E South Boulder Road has happened yet. Director Pierce said they have been delayed going to Planning Commission, but that it is anticipated they will appear in October. Chair Fisher asked what specific infrastructure improvements LRC would entertain related to that project. Director Pierce said she had not yet seen any details of a potential application. Director Pierce noted that 809 Main Street was also suggested to include in the budget because an application may be made in late 2020 or early 2021. Agenda Packet P. 5