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Planning Commission <br />Meeting Minutes <br />June 25, 2020 <br />Page 2 of 24 <br /> <br />and 2,236 multi-family residential units on 389.1 acres located northwest of US <br />36 and Northwest Parkway and Southeast of S.88th Street and Campus Drive. <br />o Applicant: Brue Baukol Capital Partners o Case Manager: Rob Zuccaro, Director of Planning & Building Safety <br /> <br />Hoefner informs the commissioners that he will be absent from the board while agenda <br />items A and B are discussed and deliberated because he has a conflict of interest. <br /> <br />Closing Statement by Staff: <br />Zuccaro states that for this continuance, staff has created an additional memo that <br />provides updated information that includes the fiscal impact analysis. The city’s <br />consultant, TischlerBise, is present for this meeting and will go more into detail about <br />this analysis. Also added to the memo was recent public comment the city has received. <br /> <br />He reviews the proposal summary for Redtail Ridge and asks the commissioners to <br />focus on the request for the comprehensive plan amendment. <br /> <br />In his presentation, he focuses on the fiscal policy for the comprehensive plan. He <br />mentions that it is just one element to consider when reviewing this application. It is <br />based on the city’s current budget and revenue structure. He then reviews the history of <br />the fiscal policy within the comprehensive plan. He ends his portion of the presentation <br />by discussing how fiscal models can help to ensure that new developments have <br />sustainable funding for city capital and services. It also helps evaluate the fiscal impact <br />of different land use scenarios and changes. He points out though that fiscal models do <br />not evaluate the character and amenities provides by the development, the social and <br />environmental impacts, as well as the market probability. <br /> <br />Carson Bise, TischlerBise <br /> <br />Bise states that the city has used TischlerBise’s model for the past six years and is <br />developed as a one size fits all project model. He reviews basic assumptions from the <br />city’s project-level fiscal model and summarizes the net fiscal results from each fund. He <br />then shows the commissioners a graph of the annual net fiscal results in comparison to <br />the Redtail Ridge and discusses those results more in-depth. <br /> <br />He discusses the highlights of the fiscal analysis. He says that this project will generate <br />a positive overall fiscal result. Examples are as follows: <br />• General fund: $133,000 annual average net surplus <br />• Open space & parks fund: $181,000 average annual (net deficit) <br />• Recreation fund: $2,000 average annual (net deficit) <br />• Debt service fund: $667,000 average annual net surplus <br />• Capital projects fund: $1.6 million average annual net surplus <br />Another highlight mentioned is how the mixed-use nature of this project gives the site a <br />better economic balance than the by-right use. It generates more sales tax, there are <br />more housing opportunity for different market segments, and there are more <br />opportunities to capture sales tax revenue over time with changes to city offerings. He <br />mentions that it is not surprising that there are deficits to the open space and parks and <br />recreation funds since both funds are currently subsidized by the general fund.