HomeMy WebLinkAboutReport - Mail Packet - 12/27/2022 - 7 - Report From Ginny Sawyer And Travis Storin Re: Work Session Summary – December 13, 2022 Sustainable Funding
City Manager’s Office
City Hall
300 LaPorte Ave.
PO Box 580
Fort Collins, CO 80522
970.221.6505
970.224.6107 - fax
fcgov.com
Date: December 20, 2022
To: Mayor and City Council
Thru: Kelly DiMartino, City Manager
From: Ginny Sawyer, Policy and Project Manager
Travis Storin, Chief Financial Officer
RE: Work Session Summary – December 13, 2022 Sustainable Funding
Mayor Arndt, Mayor Pro Tem Francis and Councilmembers Canonico, Pignataro, Peel,
Gutowsky, and Ohlson were present.
Staff last presented to the full Council in April 2022. Since that time, the Council Finance
Committee (CFC) has discussed the Sustainable Funding topic at three additional meetings.
Staff provided background and context on existing revenue mechanisms, the funding gaps and
how additional funding could be utilized, new potential funding mechanisms, and examples of
new revenue generation.
Discussion included:
Overall support for continuing to consider a new dedicated (renewable) tax, property tax,
and an excise tax.
Direction to continue analysis of a natural gas excise tax option and a natural gas fee
option (as proxy mechanism for emissions).
Support to keep all four gap areas (Parks and Recreation, Transit, Housing, Climate)
moving forward without prioritizing any area over another.
Questions to be addressed going forward:
What is the right mil range on property tax? (3-5?)
How would a property tax increase impact Intergovernmental agreement with Poudre
Fire Authority?
How do we time potential new taxes with tax renewals?
What items/products are best suited for excise tax? And how much?
Can we consider psylocibins?
Can we restructure current Community Capital Improvement Tax to address part of
funding gaps?
Can we cut existing expenditures to address funding gaps?
Next Steps:
DocuSign Envelope ID: 03173747-1D5B-4EEE-BA64-E93FB4B4204D
Continue to meet with CFC, with periodic updates to full Council, to address the
questions above and develop a recommended strategy.
Follow-up:
Natural gas analysis work will be scheduled at CFC in May.
By end of January 2023, staff will provide informational chart showing all taxes and
share backs on marijuana, alcohol, and tobacco.
DocuSign Envelope ID: 03173747-1D5B-4EEE-BA64-E93FB4B4204D