HomeMy WebLinkAboutEconomic Advisory Commission - Minutes - 10/17/20121
Minutes
City of Fort Collins
Economic Advisory Commission
Regular Meeting
300 LaPorte Ave
City Hall
October 17, 2012
11:00 a.m. – 1:30 p.m.
For Reference:
Bill Timpson, Chair 493-3673
Council Liaison Wade Troxell
Josh Birks, Staff Liaison 416-6324
Wendy Bricher, Minutes 221-6506
Commission members present: Commission members absent:
Sam Solt Jim Clark
Christophe Febvre Stu MacMillan
Michael Kulisheck
Daniel Lenskold
Blue Hovatter
Channing Arndt
Bill Timpson
Guests:
Ann Hutchison, FC Chamber of Commerce
Staff Present:
Wendy Bricher, Minutes
Jessica Ping-Small, Sales Tax Manager
SeonAh Kendall, Economic Health Analyst
Dan Weinheimer, Policy and Project Manager
Agenda Item 1: Meeting called to order
Meeting called to order at 11:02 a.m.
Agenda Item 2: Approval of Minutes
Unanimous approval of minutes dated 09/19/12
Agenda Item 3: Public Comment
None
Agenda Item 4: Follow-up Discussion Regarding Previous Meetings
Christophe Febvre provided an update regarding the Oil and Gas Advisory Committee. He commented
that the final meeting of the Committee was held in October and that a list of proposed regulations was
compiled for consideration. A discussion followed on whether or not the Economic Advisory
Commission should recommend an Economic Analysis Study to look at the big picture impact including
gas companies, health studies, etc. Josh Birks commented that economic analysis’ are primarily used for
Financial Services
300 LaPorte Ave
PO Box 580
Fort Collins, CO 80522
970.221.6505
970.224.6107 - fax
fcgov.com
2
policy issues (impact) and operation issues when making an investment (condition of approval). EAC
members discussed the cost/benefit ratio, public information, triple bottom line, and quantifying elements
then decided a recommendation was not warranted at this time. Instead, they believe the City should
continue to focus on land use codes, lobbying and legislature, operating agreements and surface use
agreements that reflect our community values. The next steps the Planning and Zoning feedback on
November 1 as well as Council review on December 4.
Josh Birks commented that the Revolving Loan Fund offer did not get approved for the 2013/2014
budget. The EAC would like to continue brainstorming ideas and offer suggestions regarding as to what
the city should be influencing and their role in small business financing/development.
Blue Hovatter provided an update regarding Crowd Funding and commented that he is currently working
with the FC Bikes Program. Blue agreed to draft a motion for EAC consideration regarding Crowd
Funding projects.
Agenda Item 5: Member Updates/Future Agenda Items Discussion
Josh Birks provided an EHO projects and emerging issues update including status on Woodward, Avago,
Foothills Mall Redevelopment, new projects, Mason, Midtown, PDOD, EHO Communication Plan, URA
Policies and Procedures, and Economic Incentives Framework. Sam Solt asked if it was typical for area
businesses to seek financial assistance from the City on a regular basis. Josh Birks commented that it was
not typical and that most inquiries deal with site issue problems, land availability, and sharing area
programs available for assistance.
Jessica Ping-Small provided a sales tax update. September net sales tax collections are up 9.1% and net
Use Tax collections are up 11.6%.
Agenda Item 6: Revenue Diversification
Jessica Ping-Smith, Sales Tax Manager, presented information regarding revenue diversification – where
we are now and how we compare to other cities, locally, state-wide and nationally. Only three Colorado
cities met the criteria to be classified as revenue diverse (3-legged stool) that included Sales and Use Tax,
Other Revenue, and Income Tax. The City of Fort Collins is primarily a 2-legged stool relying on Sales
and Use Tax (45%) and Other Revenue (42%). Generally, the City of Fort Collins fell in the middle of
the pack for citizen tax burden comparisons, and the combined sales tax rate was on the low end. In order
to be classified revenue diverse, the City would require a three-fold increase in the property tax rate. The
City’s main focus right now is how to reduce dependency on tax rates that sunset and carry the risk of
non-renewal (BOB, Transportation, KFCG) and planning for what future actions concerning revenue
diversification should be integrated.
Agenda Item 7: Strategic Plan Implementation
SeonAh Kendall, Economic Health Analyst, provided an update and review of the EHO Strategic Plan
including vision, strategic partners and SWOT. As we move forward, the role of the city and the role of
the stakeholders will need to be determined. EHO will focus on development assistance, business
assistance and communications. An implementation team is being formed to focus on the four key
implementation components including innovation, business support, talent management, and quality of
place. A task force will then be formed for each of the four key areas. The Economic Advisory
Commission will be the key, overarching entity to influence policy, direction, and accountability of the
implantation team and task forces. A retreat is being planned for EAC, EHO, and the area stakeholders
to discuss an implementation matrix (evolving roadmap and evaluation tool), performance metrics and
outcomes, roles and responsibilities, goals for 2013, time commitments, and accountability. A copy of
the current Economic Health Strategic Plan can be found online at fcgov.com/business.
Meeting adjourned at 1:29 p.m.
The next meeting is scheduled on November 21, 2012 from 11:00 a.m. – 1:30 p.m.
CIC Room, City Hall