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Regular City Council Meeting — DRAFT Minutes <br />Monday, April 23,2007 <br />Page 34 <br />1 Capital Improvement Policv �CIP) <br />� Finance Director Miller noted the speculative nature of the formal CIP <br />.� document and process, using the Twin Lakes development project <br />� area and various scenarios as an example. <br />�a <br />�a <br />f <br />�s <br />� <br />10 <br />11 <br />1� <br />Councilmember Ihlan noted that this point was well taken, and opined <br />that she would like to see in appropriate places in the policy, including <br />a fiscal impact analysis on City expenditures, or proposed policy im- <br />plementations, moving toward a policy analysis for all development <br />projects (�.e., future maintenance of streets, traffic infrastructure im- <br />pacts, etc.). <br />t� Mayor Klausing opined that, while the Council had held this discus- <br />1� sion previously, it seemed incredibly speculative if only the costs <br />1�� were factored into the equation without balancing in the benefits and <br />t�� impacts to and for the overall city and surrounding areas. <br />lf <br />l� <br />14 <br />� C� <br />�1 <br />�� <br />�� <br />�� <br />2.� <br />�� <br />�� <br />2� <br />�� <br />Mr. Miller, from a personal and economic perspective, recognized the <br />advantages of performing fiscal impact analyses, but noted the need <br />for making numerous assumptions that influenced the value-added to <br />the City Council and their decision-making process as a body. Mr. <br />Miller used, as an example, how to determine the value of one job or <br />the value of increasing the tax base of the community; and opined <br />that, unless the entire body was in agreement on the assumptions and <br />their interpretation of those assumptions, the data would only benefit <br />individual decision-makers. Mr. Miller further opined that the bigger <br />a project, the more speculative the assumptions and actual fiscal <br />analysis would be. <br />3� Councilmember Ihlan reiterated her preference for receiving an analy- <br />� l sis detailing the cost of implementation for a new policy or a large- <br />�� sized development as part of the decision-making process, from a cost <br />;� 3 standpoint at a minimum. <br />�� <br />�� Mayor Klausing observed that each individual viewed ideas and is- <br />;� � sues from different perspectives, and each opinion and perspective <br />�� was valid. <br />3� <br />