HomeMy WebLinkAbout2010 - Economic Advisory Commission - Annual Report1
Economic Advisory Commission
2010 Annual Report
The EAC consists of nine members meeting regularly on the third Wednesday of every month.
The board receives regular updates from staff and advises City Council on matters pertaining to
the economic health and sustainability of the city. The board continues to gather community
input on economic issues and represent the ideas expressed.
Members who served in 2010 include Chair, Christophe Febvre, Vice-chair, Bill Timpson, Beena
Bawa, Blue Hovatter, Stu MacMillan, Jim Clark, Kevin Shaw, Tom Clevenger, and Rick Price.
2010 Year in Review:
The following are items the Economic Advisory Commission were briefed upon, and formal
action was taken with a recommendation forwarded to the City Council:
Transportation Safety
The Economic Advisory Commission, as part of our 2009 and 2010 Work Plans, has had
discussions regarding the fact that Fort Collins has been recognized as a "bike friendly
community" and that there is a positive economic benefit to this based on marketing and quality-
of-life. In light of the pending February 9 Council work session on transportation safety, the
EAC, at our January 6th, 2010 meeting, discussed the issue of bicycle safety and education and
the impact on the overall viability of being a "bike friendly community." It is in this context that
the EAC has unanimously voted on and agreed to the following recommendation to Council:
The EAC finds that Bicycle Safety Education is an important part of being recognized as a "bike
friendly community," and that this recognition plays an important role in the Economic Health of
Fort Collins.
Accolades that Fort Collins receives as a great place to retire, work, raise a family or locate a
business are jeopardized by twenty-five serious injuries or fatal bike/car crashes involving
cyclists since 2007. Incidents such as these may seriously jeopardize our image as a bicycle
friendly community and our ability to continue to receive such recognition.
Therefore, we encourage you to ask staff to explore best practice solutions to take bicycle safety
education to the community.
Manufacturing Use Tax
The Economic Advisory Commission (EAC) held their regular meeting on March 3, 2010
During the course of the meeting, the EAC reviewed and discussed several tax base options for
the City of Fort Collins. In light of the discussion, the EAC makes the following
recommendation to Council:
The EAC recommends the elimination of the manufacturing use tax if any sales tax increase is
enacted for the City of Fort Collins.
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Resourcing Our Future
The Economic Advisory Commission (EAC) held a special meeting on March 12, 2010 to hear a
presentation by Mike Freeman on "Resourcing our Future." During the course of the meeting,
the EAC had the opportunity to ask in depth questions and had extensive
discussions surrounding the economic trade-offs and the issues presented by
current City Revenue and the various needs around the City. In light of the
presentation and discussions, the EAC makes the following recommendation to
Council:
The EAC unanimously recommends that the long term needs of Police Services, Poudre Fire
Authority, Parks and Recreation, and Streets Maintenance are important to the viability and
economic health of Fort Collins, and we urge City Council to support the need to raise revenues.
Midtown Redevelopment Study
The Economic Advisory Commission (EAC) has reviewed the Midtown Redevelopment Study,
received several updates from staff, and discussed the merits of the Planning Concepts, Action
Plan, and Recommendations. On August 4, 2010, the EAC held a regular meeting to discuss,
amongst other topics, a formal recommendation in support of the Midtown Redevelopment
Study.
The EAC, by unanimous approval (five in favor and four absent), makes the following
recommendation to City Council:
The inherent value of the Midtown Study area combined with the retail vacancies
and aging properties represent a valuable opportunity for positive evolution and
reinvention of the community’s core regional retail asset. The suggested Corridor
Planning Concepts provide the basis for transformation through redevelopment
introducing new uses alongside existing retail development. Furthermore, the
Action Plan provides strategic direction to guide the City forward in facilitating
the redevelopment of both the Corridor and Foothills Mall. The EAC supports the
Study and looks forward to the many opportunities that will come as a result of
the City Council’s support of redevelopment in the Midtown Area.
Minutes from the August 4, 2010 EAC meeting are attached for your review.
Amendments 60, 61 and Proposition 101
After a thorough review, the Economic Advisory Commission (EAC) unanimously recommends
to City Council that it come out strongly against Amendments 60, 61, and Proposition 101. The
EAC feels that there will be a severe economic impact to our community if any one, or any
combination, of the initiatives passes. The EAC feels that the economic impacts of these
initiatives include, but are not limited to, the loss of a significant number of jobs and an increase
in utilities fees. Passage of these initiatives would seriously affect our ability to attract and retain
businesses at the State, County, and local levels.
Long Range Financial Planning
In the spirit of City Plan which is currently underway, the Economic Advisory Commission
(EAC) recommends to City Council that city staff make forecasts of the city budget,
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governmental funds, and expenditures out 10, 20 and 30 years. Furthermore, the EAC
recommends to City Council that a sensitivity analysis be conducted on those items deemed most
likely to impact those forecasts and update these as appropriate.
This recommendation was passed by a 3-2 vote.
Economic Health Budget
The Economic Advisory Commission (EAC) recommends to City Council that the funding for
the bicycle safety program ($50,000) be restored to the 2011 and 2012 budget. The EAC
believes the bicycling culture and environment that has been developed in Fort Collins has had a
positive impact on the City’s economy and the quality-of-life that is a valuable element of the
economy. The EAC feels that bicycle safety, and its coordination and promotion, is an important
component of the City’s bike-friendly environment which is worth funding.
Economic Health Budget
Due to the importance of economic development in fostering a healthy local economy,
particularly within a local, regional, and national economy that has significantly and negatively
impacted local employment and City revenues, the Economic Advisory Commission (EAC)
STRONGLY RECOMMENDS TO CITY COUNCIL THAT THE BUDGET FOR
ECONOMIC HEALTH BE INCREASED BY $150,000 with the purpose of enhancing
development of the City's targeted industries and assisting in primary job creation/strategies for
2011 and 2012. The EAC believes that investing this additional money for these purposes will
have a vital positive effect on short term economic development strategies and long term
economic results for the City.
Section 108 Loan Program
The Economic Advisory Commission (EAC) recommends to City Council that the Section 108
Loan Program be supported with emphasis toward primary manufacturing employment.
Gateway Standards
The Economic Advisory Commission (EAC) has had discussions during the course of several
meetings about the opportunity for positive economic impact from the I-25 corridor. The EAC
feels signage would have a positive economic impact on the City of Fort Collins by bringing in
additional traffic that might otherwise bypass the City for lack of awareness.
The EAC, by unanimous approval (six in favor, three absent), makes the following
recommendation to City Council:
The Economic Advisory Commission (EAC) recommends to City Council that one or more signs
be placed along I-25 welcoming visitors to Fort Collins, and that this be integrated with the
proposed Gateway Standards.
City Procurement Policy
Throughout the year, the Economic Advisory Commission (EAC) has received various reports
including the City Manager’s Monthly Report, the Monthly Sales Tax Report, and the Monthly
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Financial Report and several updates from Staff. After review and discussion, the EAC feels
that a local preference policy would positively affect the City’s economy.
The EAC, by unanimous approval (six in favor, three absent), makes the following
recommendation to City Council:
The Economic Advisory Commission (EAC) recommends to City Council that the City explore
the benefits of a local preference policy for City procurement.