Finance Committee Agenda and Packet 2023 01 23

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for 2023 property tax rates. Information on the various models used in the valuation methodology are posted on the Boulder County Assessor's website. There was a lengthy discussion around the desire for a public education campaign around the abatement review process this year due to this unprecedented situation and 2023 being a reappraisal year. Questions from the Committee: Councilmember Brown commented that the model presented is useful in helping understand how property owners that hadn't reported the cost to remediate would have their properties valuated. The Assessor's Office staff reiterated how the model helped determine the estimated cost of damage for unreported properties and noted that Destroyed properties were analyzed separately as the entire value of the home was removed from the account and only the land value in 2021 at a 50% reduction rate. Councilmember Brown thanked the assessor's office for assisting Louisville in working through this process. Councilmember Leh asked to review the IDW model. He stated that he is hoping there will be a good public education campaign around the abatement process this year due to this unprecedented situation. The Assessor's Office is considering this and how to get the information out to people. Mayor Pro Tern Maloney asked for the slides to be attached to the minutes of the meeting. Mayor Pro Tern Maloney thanked the Boulder County Assessor for their time and all their work. Presentation from Chandler Asset Management Agreement: Scott Prickett and Julie Hughes from Chandler Asset Management presented the economic update and how it affects the City's investments. Portfolio allocations, objectives and investment performance were also reviewed with the committee. Questions from the committee: Mayor Pro Tern Maloney asked how the decision is made on the duration of investments given the current market volatility. It was noted that the City has a lot of constraints around how we can invest, including the term of investments. Status of Windy Gap Firming Project/Chimney Hollow Reservoir Project: The Deputy Director of Utilities presented on the status and construction cost of the Windy Gap/Chimney Hollow Reservoir project. He noted that this will be the 3rd highest dam in Colorado and will impound about 740 surface acres and 90K acres of storage. This project will enable the City to give better capacity into the future.