The City’s initial financial expectations from the public-private partnership were repeatedly revised downwards, primarily due to COVID. Higher returns from the West Falls project for the developer and investors were achieved by lowering payments to the City.
City Council decided to fund the long-awaited Fellows Park project and two EV school buses. The School Board was surprised that their share was only $449,000. $1.67M of the FY2024 budget surplus will go to capital reserve.
The FY2024 surplus was primarily due to a higher investment return than the 2% budgeted, and higher property tax and meals tax revenues. The capital reserve was $13 million, and projected to go down to $2 million by 2030.
City Council approved the zoning change to reduce the commercial parking requirement to attract small businesses to the City and enable adaptive reuse of older buildings.
At their August meeting, HARB received a proposal to build an 8-unit apartment building adjoining a historic property, taking advantage of the new T-Zone ordinance.
In response to condo owners who are not eligible for City solid waste collection today, the City is exploring options that are more equitable. Options to reduce waste are also discussed.
Caution is urged and there is a need for data analyses of housing, tax, privacy, parking and environmental impacts of the accessory dwelling code proposal. Public awareness and townhall attendance is low.
The 2013 Boundary Adjustment Agreement created an opportunity for the City to finance a new $120-million high school from lease payments and additional taxes by allowing 10 acres of land, now called West Falls, to be developed in a public-private partnership.
After approving Lee Park Townhomes, the Planning Commission reflected on the results of the new T-Zone code – expensive and dense housing, little tree canopy onsite, consideration for inadequate stormwater drains.
