Revitalization Commission Agenda and Packet 2020 11 10

Home Browse Search

Revitalization Commission Minutes October 28, 2020 Page 3 of 6 • Public Hearina: 2021 LRC Proposed Budaet Open Public Hearing Chair Fisher opened public hearing Staff Presentation Director Pierce included an updated timetable, page 17, talking about the 2021 budget based on the feedback she and Director Watson received from the LRC in September. If approved by the LRC today, this proposed budget would be taken to City Council for approval then brought back to LRC for final adoption. Dates are unknown, dependent on when the LRC meets in November. Director Pierce reviewed anticipated expenditures included in the packet on page 16. There was a substantive change related to streetlight improvements: the LRC had been carrying an expenditure for $140,000 for upgraded streetlight improvements. Staff has had recent discussion with Xcel and the City will do a study and will not ask for LRC participation at this time. That planned $142,000 expenditure has been removed from the 2021 budget. Director Watson provided an overview of page 19 of the packet. He added a 2020 estimate column to provide an ending fund balance estimate. This is the preliminary assessed valuation. The final assessed valuation will come at the end of November and numbers will be recalculated. Those numbers include the TIF refund to Boulder County and Fire District which are dependent on assessed valuation. Close public hearing With no further questions or public comment, Chair Fisher closed the Public Hearing. Council member Lipton made a motion to advance the proposed budget to City Council. Chair Fisher seconded the motion. Roll call vote: Council member Lipton - yes Chair Fisher - yes Commissioner Adler - yes Commissioner Bradfield - yes Commissioner Tofte - yes Commissioner Gorsevski - yes Motion passes Agenda Packet P. 4