City staff presented a two-part long-range financial planning package: a 10-year financial forecast intended to surface new revenue sources and best practices, and a development options analysis that models the fiscal impact of different land uses.

“There's really two components,” staff said. “The first one is the long range financial plan, which really is looking at a 10 year financial forecast… The second component is the development options analysis, which really is an interactive model that staff can use that takes a look at how a parcel of land develops and what that means for our revenue and expenditures.”

Staff told the committee the tool will use averages to estimate typical costs and revenues for different land uses (for example, single-family residential, multifamily and retail). It will allow the city to compare recurring and one-time revenues against typical service and infrastructure costs. The consultant firm (referred to in the packet as FCS) will also provide comparative practices used by other cities.

On granularity, staff cautioned the model is “more high level” and is not set up to isolate existing neighborhoods or plug in very specific site proposals. It will, however, allow the city to estimate what multifamily or mixed-use development typically brings in at an average level and what it typically costs to serve.

Council members pressed on sequencing and application. One council member said they would prefer financial analysis to inform strategic and comp-plan work, while another asked for the model to account for tax-exempt properties and business parks; staff said the model can capture tax-exempt status and give a sense of revenue generation under those conditions. The package is budgeted with costs split between the development fund and the general fund, and staff said it is slated to go before the full council next Thursday if the committee is supportive.

There was no formal committee vote recorded; the matter was presented for committee input and scheduled for council consideration.