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Home My WebLink About050823 Special Session Financial Sustinability Task Force Joint Meeting with City Council- Added After MeetingOptions for Financial Sustainability City Council Work Shop May 8, 2023 Presentation Objective This presentation reviews a range of alternatives for reaching Financial Sustainability and providing desired Level of Services in the City of Port Townsend. The presentation covers the following topics: Background Financials Range of Options Next Steps PortTownsend Financial Sustainability Background roject Purpose: Engage community members in a conversation around the City's long-term financial sustainability and its ability to provide quality municipal services. Build knowledge in the community about how the budget works, the constraints Port Townsend faces, and how everyone can work together to prioritize needs. Part of the "Engage PT" initiative Taskforce charge: Advise City staff on community engagement materials and strategies. Provide a report to City Council with directional recommendations for ancial sustainability and delivery of quality municipal services, nsidering both revenue and cost/service options. City .! %Wi�iN (� li�r� rf' Ap ,1P„Fortl"ownsend lWWNk 4h t� inancial Picture Ending Cash Balance ear Historical Cash Flow m m am Ending Fund Balance ioYear Financial Model ENDING 11= UN I IBA1LA1114C11:::::: & I AII:RGII::.::.:: I .. ...... ... ... ... (Geneirall, Streets, & RIDET, Coom yr s# & 1l)eb-t 11::::u nds) Status Quo (6 4-3 4-1 4-1 4-j D CC5 Y 6!1 U LA Ln V� U0 kA Ln U U U U 4-1 LLJ I U U 4- rq U U ILL ILL- ILL iz UL UL < < rq LO 0) 0 00 0 H 0 rq N rq rq rq rn 0 0 COY a 0 ) N 0 rq N rq rq ro 0 N 0 0 0 0 0 0 N rq rq rq CN 0 p,J N 0 N rq iiiiiiiiiiiiiiiiiiiiiillillillillillillilliI ToW Ending Fund Mance —:,TotaPoky Reserves Level of Service Level of service discussion hat does level of service look like in each scenarios? ow do we achieve each scenario? What is the impact to our community in each scenario? Do Nothing Sustain Current Services ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Enhance Services Level of service discussion hat does level of service look like in each scenarios? ow do we achieve each scenario? What is the impact to our community in each scenario? Do Nothing Sustain Current Services ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Enhance Services w hat does Level of service discussion of service look like in each scenarios? achieve each scenario? hat is the impact to our community in each scenario? Do Nothing Sustain Current Services .................................................................................................................................................................................................................................................... Enhance Services 10 Level of service discussion Notes from Task Force meeting 3 Do Nothing • No new revenue • Service level reductions • "Fall off a cliff" • Efficiency here also • Describe the impacts of doing nothing • Impact on major initiatives (pool)? • Potential service cuts No Net Loss Sustain Current Services • Raise revenue to sustain current services • No new services • Trade-offs • "No cliff" • How to provide same service at less cost (Lean initiatives)— how far can this go? • Look not only at revenue side • Needed revenue to maintain Enhance Services • Efficiency remains important • Trade-offs • New revenue • Amount needed for enhanced services 13. Efficiencies A few example actions the City has taken in recent times to gain efficiencies (not all inclusive): Contracting for pool services Enhanced volunteer programs for Parks & other areas in the City Online permitting Public Experience Liaisons and new City Hall front counter On Call Services Change to mowing Lean thinking Electronic council and advisory board materials (eliminate paper) Updated financial software and electronic payment options (coming soon) Options for Financial Sustainability Balancing options forfinancial sustainability uiir Iii iiia g S ura tegIii es ri cfirms e taxes aiiia d fees) 3 -OW e\i'ds olfServ��ce (redUJC(1:1� S Ffi c II e e s) If new fuiiiad g s bra tegl��es are not pursued, alternatives are for a community to focus on g - o v,�/ "t 11 � and/or redl),/ j,c e 14 Proposed criteria for evaluating revenue options Magnitude: How much net revenue could this option generate? Growth: How is this revenue source expected to grow or decline in the future? Stability: How stable is this revenue source? Equity: How much does the revenue option align the burden of who pays with who benefits? Political feasibility: How politically feasible is the option? Restrictions/Alignment with needs: What can the revenue be used for? Can it meet the City's needs? �5 General Purpose Tax Revenue Options with Preliminary Scoring Property tax increase Could fund nor -nett loss $ 50,1$1 000, — Subject to I'?% I�nnpactts all property Requires voter Can be used for - ttennporary,, rlr enln�a ncel'nne nentts ��,�� u�d,getta r'y growthYlwn Can be r,:.ngni�ng e r app,rl;:i'W'al anyp4Jrp,G:Dse 3 per'nnanentt or I'i�rnniitted ,ur ,r:yse Current 22"°% rate Water,, Sewer & efff to I 2/20,23i Can 6,e Sttorrnnwwatter Cr,uld fund nc:r-nett loss I X� increase _ Would grow as Jan 20,24 reverts, to Impacts, all utility irnrplern7,enttecl Can be used for '�� Utilitytax or enhancernnenentts �'"n;�UC��P dewelr�pinnenttgrrra 2f��'��I2k users, �itt#n-muttvr::ctter any 2 increases reducttir.,rn in apprcival revenue Electric Coulddloss funer could grow as Irnnpactts all utility Requires, �voter Can be used �ffe::or 2.5625 e lnr ne 7�nern �Ongoing �v'eln Innentt grows users approval any purpose "� o,uld grow°w�ittln 'Tax "�„grow Current ratter 0.2%,I Impacts,Impacts,all business, Already Can be used ' for &O CO'Uld fund no -nett loss increased ecannnnicOngoing- rnna�x'innua�nn allowedrrwners. developnnentt ittwnplernnentted any purpose Allows, ws itrnnplernnenttattio,n of a parking Irnnpaclts ttc:vursirnt. nnanagenn,entt prrngrarnn WouldNeeds, Would grow with ttimrne Concern over study, beI�'e: Can e used for Parking fees (assume 50,10, our off 312,5 �u Self-sustainingcoininnWnitty buy -in, 1,0100 sttall& at 50('' and infflattc�rn accessibilitty and and council decis,i+:)n any airy pure -arse upper sttc,-ry housing occupancy at 5 per da Fees rniustt beattttrib,utted Can be Irn7;pae�s specific User Fees, directly to a provider's TBE), Wc,uld grow with use Ongoing users irnnplernneantted 3.125 General Purpose Non -Tax Options Preliminary Scoring General Purpose I 0,G3�P �ff� of Leased space Current leased spaces. Charge lease CO3uld reduce the ability at $15/yearI�I�II�I, est. _ dl! nes pay rentt ffor rates fl ,r"City to, rl: vide subsidized p 1500,0 per year.. N/A Stable p-ublic bf''ne�ffitt. The Citty Council decls'Ir:Yn Currentt subsidy 3,.0,0333333 Space at Mttn_ services for pubkc �SF las estturnnratted sand ' subsldl'zes services like suppK.jrtts c(.:),nununiy View/City Hall benefit the food bank* be ttere named rverified) fnl-ttr::YrlCal society. Addresses reduction of Inn,prr.lyes sustainability. In'cr'ease reserve ser'v'ices and .-a'y'es, on Recessions, are prime ttinnie- Equitable to, ennpl'r.Yyees Sustainable fund balance Sttabllll'zes,'Cltty service.- unexpected infrastructure Iinw'e'sttd'nnentt p(,:),oI for government to build and proy'Ides better ' Council decision Services and 4.1 66,66, 67 re' uIr3n1enttS. c4stt-Helps city weather In'frasttructture instead of services, Coninunitty reeem,ions., laying eo le rYf'f., IRe in..-ttatte Fleet Creattes crinslsttentt Saves one tti nne Allows, g+lc,d year unexpected expenses funding to be applied Sustainable Replaeelnn�ntt funding ffr:Yrc replacenn,entt when e€iulpnn,entt fails, r N/A High sustainability conniniunitty projects 'bervices and 4.16666667 Reserves, with one of vehicles a.11r--w- Also save- Ennal,nttenance strategy strategy instead of fleet Coinnaniu'nitty trlr'ml�e ffurrds trre'araslttlaa�a7 to, eletrrPc'fleetr_ ,costs for r7ld vehicles rep,laceRlientt Saves, one $Ilene Establish a Cr'ecite s con s,i5tentt unexpected expenses Allows, g4:Yetid yearFac funding ffo,r nlalnttenace when building systems ,yste, funding to be applied Sustainable F::� ul urn gs such as, rcF.�+:Y' al s_ Also, saves Hugh sustainability lhry cr,am�rnrounitt rcr-�e clic �+ projects, l:aunef eclsa�r:an Services and ��L� �rt��d�t�d��i7 IReseirlvie with one re Iaclm,ents, car' pet, p p unitre nded dalnic e ttt:Y g ,�, strategy instead +::lf bWlldl,r, g Coininru,nitty ttlllYn'.e funds, painting, etc. buildings, by staying repair's ahead r.. -if rep-air,s., 1 1% %6k 66, 17 eneral Purpose Non -Tax Options cont. with Preliminary Scorin Gantract IPark Absent,crecting a imietrr:j Savings c:),uld result in no, Services, - parks, district, could increase in olpercitio,nal J e ff e r son Co. create efficiency of costs. Assurne $1 in, per servi-ce. year continues. N/A Sustainable for the City finances. May not be sustainable for parks. Maintains, access for everyone. G.xncern over the ability to build new parks, as the city grows. Council and Cc.),unty decision May help with park inainteriance deficiencies. Could expand recreatio,nal prograrns with ilpffi-.mrm Cn, 2 8333333 11 Nr.. -i savings to general fund because internal ILoss cif local control and service fund. Could be Operational and Cantract tailored services for nic:),re efficient,, but nmy mijay not be Engineering urban needs (ie., non- case local cc..j,ntr(..jl and No, guarantee of staffing Concern raver lack of Council and County strate,gic. May have ni,c-iforized). Still requires public prc),cess as's,ociated N/A attention for city 2.33333333 services , - given labor inarket decisir.in imisalignini�ent Jeffers(.:),n &:). anagel"TTent. 11'between with key features like non- specific p,robleinjs urban and IRedu,cti(,j,n in public ni�r.:Acmized transipc),rtation. rural go,als. process. Also would require cc),ritract nianager(s) Saves Overhead. Lass of local control and Savings undetermined. 0p,eratir.mal and tailored services for Not likely a cost saying may not be G.-mtract Planning urban needs, (ie., non- C(..-j,n,cern over lack of Services, - nicato,azed). Still requires, unless, prograins, like N/A No, guarantee of staffing attention for city Council and County strate,gic. May have 2.,33 i33333 Jefferson Co.. inianagern,ent. histaric p,reservatiran are given labor niarket slpedfic pr(Dbleiria deci5ir,:),n inisalighni�ent e1iininated. between urban and Reductio,ri in p,ul6kc Saves, overhead rural go,als. Savings undeteriniined. Olperational and Co,ntrcict IPreIICe IRequires, analysi[s. Saves Co-ncern over lack of rn,ay not be Serykes - IRural versus, urban overhead, equip,nient, and N/A N(::), guarantee of staffing attention for city Council and County strate,gic. May have 1.91666667 1policing given labrar niarket decisir.m niiscilighni�ent Jefferscan Cc). other potential siqedfic problenis efficiencies. between urban and rural aracils. No, savings deterl"nined- Current Structure Delarnarter rep,(..-j,rt,, Would result in a �CILEO Coop,erati've revenue /exp,e nse gap, of considered the est. $40,0k; 4 annually Libraries, of Eastern Contract ILibrary annexation of PT Sustainable for the City Olyrnpics) aligns the Services - Library based on taxing auth(::),rity. ,may n.jt be finances. Mr. M aintains access for Co,uncil and needs cif City and Currently, no general N/A Jefferc(.:),n County 3.16666667 Jefferson County to Jefferson Gaunty fund subsidy of the sustainable fr,:)r library everycme. Library decisif:m County by w(.:)rking Library Library library. In the future, ni,ay services- ,a together to nike (Noveni,ber 20,01) seenilem services require general fund for cc.),rniniunity cr.:mtributio,ri due to inflaticm. Gantract IPark Absent,crecting a imietrr:j Savings c:),uld result in no, Services, - parks, district, could increase in olpercitio,nal J e ff e r son Co. create efficiency of costs. Assurne $1 in, per servi-ce. year continues. N/A Sustainable for the City finances. May not be sustainable for parks. Maintains, access for everyone. G.xncern over the ability to build new parks, as the city grows. Council and Cc.),unty decision May help with park inainteriance deficiencies. Could expand recreatio,nal prograrns with ilpffi-.mrm Cn, 2 8333333 11 'TransportationRoads:, 'Trafls Transportation, Roads, Trails Tax Revenue Options with Preliminary Scoring Transp„rttatti-ekn ould grow with Salestax available P enefitt C�isttr'i'ctt Cr}ul°e� fund raa::�--nett Lr;��s�s 021?lo = 550,000, . crease r-rn increased ecnnnic for 10 years with 1111pactts all d'! �May require voter �ansr'tta#i�c.)n Fr::vr ttrpY,:v 3.25 sales tax or enhancrnnenentts clevelc.)p'nnentt a rode in'itte nunn�ber' purchases approval l� prjeclPs of renewals TranspYnrttatti�r:kn ''�r"'Y)ulc� gregrowwithitth tax available Can be P,enel�itt C�isttrictt Youun racy -nett n-��, �, — g1.1 e� — 27 5,000, Incr'easecl ecl.nna.}In7ac year;males: r:�r I yearswith are�pac#s a In�mp lenientted Foar ttrans� uvr::ttattir.::vn p' ' .37 sales� taxclev'eh::rprnnentt yr enhancnnenentts indefinite nulnb-er' p urchase& without voter ' pro eclrs r}f renewals approval SalesTramtax available fan be �enefitt Cl s#Ire i�cli Y�ul� mune! no, -net lass "21�fee — $186,00,0, ',�G��I�I Wouldgra;::rv�* with rn�c)re for 10 ears with "�'ar>mue fee for all Iln� len�enttee! For trans Y::vrtt 3.0625 or enhancanle,nentts vehicles registered indefinite nunnber' vehicle owners,owners,wItthcwtt voter ' projects. vehicle license fee of renewals approval 5,GO k/hous,ing unit ru:pvvtth ccwlcl be x 50, units, per year = reduced by attainable 250,00,011 per year housing incentive Can be Fc),rr,Capital prr,::rjecli' la'npactt Fees strategy to current levels of prrn,graln7 for additticnal Ong, -rung until II'nnpactt Fees In,pactts, specific III'nnpleannentteei specific to the fee achieve atttarnable develoin7entt. $5,00D units. If all newunitts sttrattegy is 4.2,E -� Trarrspe:rr'ttatti�Nrr users, witthevutt'votter (InY,usllrl,g, streets, housing genal_ wo,ulel need to, be are a'niarkett rate (75 per aehi-eveel_ approval parks) justified by study for year), then gr'c:jwtth in non Inllttr:Yr`I:Zreel revenue - goes, up.. to, .. Cc,,uld fund n(::, --net loss Based on ' CapitalIlnlproves, an.and-Ilrnnpactts s all property Require'votter' For capital projects Capital IBS:}ncl One #ia'nne In7rrney Inainttains 2.625 or en�haancrn7le,nerrtts, InnprYnvea'nnentt IF+lan c.i°w�ners apprr,:xval specific to,the bun,ncl Infrasttructture Parks, Pools, Public Facilities Tax Options with Preliminary Scoring : :.. �,� . ....... Parks, Po I , u bliic Facilities Metropolitan IPark Cr,,uld fund no, -nett loss, $0,75 per $1,000, _ Subject to, I % Impacts all pro,pertty Requires �voter District or ernhn�rncer'nnenentts, —$11,600,10,00, budgetary growth+zw�ners Ongwain,g approvalappY'w'aI For park pra�eclhs. 3.5625 property tax Parks and Crwld fund no, -net la::�•s Subjectt(.:) 11%Innp-a�ctts all pro,pertty Re€iuires �voter � For parks services,,, year I vy Ludgettary grrrwrtth� F'ir'niitted to, 6, years 3.125 Recrreatticin District or ernln�rneer'nnenentts, lirnnitted owners, owners,�rs� approval approvala Ila'nnttad tterrrnn to, ?fir years, Parks and Cr'Puld (Fund no -net h:rss Subject ttri I D/a Ilanp actts all pr+:aperrtt�° IReciuires wc:�tterr� For parks services, Recreatti(,,ns year levy Ludgettary grrwwtthj F'ir'nniitted to, 6, years 3..h 5 or enh7arrcer'n�enentts� (zwrners approval lirnitted tterni Service ,area lirnnitted to, 6 years Public Facilities Cr1,uld fund n-r._,nett loss Wr.:)uld grow with Ilnnpactts, all Re€iulres voter For a regional District�'-�2o _ 55g,�1^�"g' increased ecr�n�-,rnnii�c C�ngc:jing .0u625 or enhnan�cenienentts purchases approval facility sales tax dewe6oa'nnentt $5,10,0 /hous,ing unit Growth could be x 50, urn'itts, per year = reduced by attainable 250M000 per year housing incentive Can be For capital prrn,lectts, Impact(, I'nn pa�gttr4 ��r, {g�lrrIlal �g gu, �ttil lannpactts Specific in'nplennentted specific tto the fee Parks Open aceve attainable dev�l"nlentt5,000 Wnittslff allnew units, strategy 3.5625 Space n(rusirng goal. �p would need to be are narkett rate (75 per achieved. users vitthrutt voter � (hrusing, sttrees, apprr:7-val parks) justified by study for year), then growth in nctn Innt:. tto,rized revenue goes, up to facilities 37510,00., ,Current fees, V0F0uk Can be Fees�njustbeattributed 'Current cost to,run linpacttspecific ii'npleni,e,n'tted Speci'ffic'ffnrO&M, Poo] Use fees r existing po,o, $600k W(.::ruld gr4::wwith use . Ongrr:�Ing .6, 75 directly se Yltth"Wtt voter of facility Increase fees, 1 ON approval V. Housing Tax Revenue Options Preliminary Scoring Developnnent Services, Fees, Provide higher level of res,p,(.:.m&[veness, for perniff processing by funding staff positions. Fees niust be attributed directly to, a providers, 1131C W(.:),uld grow as, deyelc:.,piv�ent grows, Ong(,:)ing linjpacts, specific users, ,Can be iivjpleni�ented witho,ut voter approval 'Suppe .:.jrt& crifical attainable housing needs liniplerniented of County Provides, Aff or do ble level~ ILA with the S50,01k Gro,ww s ith increased Ong(,:)ing 1111�pacts all Already Affordable Housing Housing Sales Tax County through the ecc,no,niii�c development purchases, implenliented and Honnelem Housing Fund Board Housing Prcj,qrain,s, Affordable linipleniented by the Provides, Housing Sasles City'. ILw A ith the $25k w eased Grc:.j,s with increased Ongoing all Already Affordable Housing Tax county through the eco,no,niii�c devek:.j,pni�ent purchases ini)pleniuented and Ho,ni,ele&s Housing Fund IBo,ard Housing (Pro rains, Developnnent Services, Fees, Provide higher level of res,p,(.:.m&[veness, for perniff processing by funding staff positions. Fees niust be attributed directly to, a providers, 1131C W(.:),uld grow as, deyelc:.,piv�ent grows, Ong(,:)ing linjpacts, specific users, ,Can be iivjpleni�ented witho,ut voter approval 'Suppe .:.jrt& crifical attainable housing needs Sale r..4 ILand Glen Cove UGA - Expcinsicm City intiate,d lic),using (Evans Vista) Infill Devek::,iniipent Strategy: Exciniples include financial, marketing and zoning policy, ie tactical infill Reduce ren' n an, ownersh i P PICIt�enti. Ily for housing Expansio,n of s,ewer for housing and inclustry.. Potential UGA swap.. More efficient urban services based cm existing developin,ent patterns and p,(::)tential Provides, housing Housing Non -Tax Options with Preliminary Scoring Es,tinmted rniarket value $2,00,13,000 based on esfinncited 20, lots, with net value riff ,$'f 0,0.0'0'0' 100, acres existing industrial. IPottenttial for 300, acres, additional housing and light industry. Estiincited annual $1 in in revenue growth over 20, year p,eri(.:),d Ongoing annual revenue resulting froin wc),rkforce housing = $1 5,000/yr for 150, units. Other non - tangible co,iiiiinfunity value �Lr.:)wers tax burden on residents, infrastructure. Est S330,000, per year for We need 75 units, per new revenue associated year cl,n average going with ccmstructicm sales, tax f(,),rwcird plus 40,0, units, and property tax. Also, right now because of there is ci density tax b,ci,cklcj,g of not enough burden reducti(.-j,n of 20�% units being cc-mstructed for 100 ii-ifles, of water,, over the lost 20, years. sewer, and streets. (Current unit count per year is 50') hIMML MIMMML� Nr.:) growth potential Growth with tirne Inflationary gro,wth pote,ntial. Also there ane firnie tax revenue Yes, depending on density and local 'Capacity to build. One tinne High growth potential with utility tax, B&O" sales, and propert tax. Need subarea plan tr.:) drive density f(.:)r rniost efficient services. Continued deve1c),prnient of attainable housing is required for a sustainable cci,miniunity High level of sutainability if hr using is, infill coinipared ttr sprawl. Ongoing with new housing units. Will vary with marketconclitirans, and funding. Need tr.:) address building cycle prr,:)blenii.. Could be for affiardable housing.. Equitable strategy Perceived gentrificatici,ii ,with increase business, (:;pportunity. Cost to run business could increase with urban services,. Also opportunity f ' )'r 1110re farnily wage 1".Dbs, Provides needed access to attainable hcwsinq. Need {nix of housing- TIBE), Inf:ill is equitable. Could i n,cl u d e pr (:),g r a in, to achieve attainable hr,:),u-.ing needs.. Council decisicm. IN e i g h b,o r h concerns to be considered. Requires Cr;untty and City Cc),uncil I app,r(.:)Yai. IRequires, UGA,change apprr.-jval by Ccmnrnerce. RequiresCouncil approval Planning process, requires Planning CGIT111111issic.m and City C(.:),un,cil Seed fund c),r use for affr..,rclable hcwsing Suppr..jrft hcj,using and jr.:)bs, Suppc)rts, critical attainable housing needs, Critical need for Ince-using b,acklr.:),g needs, clinicite, and insfrastructure sustainability 3.0,8333333 1 A.33333333 I A.66666667 1 M Suppc;rtt diverse Conini e rcia I (Business Growth Support Market h"M;ulttifaniily Huiusing Reduce or eliniiinatte ciff- sttrreett parking reaui reulnentts Possible new and addittiorlal Ic7b.s',. Makes use of coin7nrercially zcmed property. . Vitality in commercial district!, supp,ortts better services_ (improves level c::i'f service for lic using and infrastructure due to iluaxerniuIll density opportunity. Helps with housing density, increases cc-istt of ,street maintenance Housing Non -Tax Options cont. with Preliminary Scoring Total grc:rss cc:rni,merrcial activity is S450 in for the Bitty or $1.3 rnn/acreo'f conunnereial land space (325 acres).. For Example1Roc.,i'nn ttc:,, increase a.:,i'nnumnercial activity can land by 20,9111 which generates $'640,1k additic:nnal annual High revenue pccrttenttial fc::tir market rate aparttnuentts due to, utility tax, sales tax, and property tax revenue.. Not estimated yet. May be a net zero if housing density is achieved. 115Gl,% AMI Multi Inccrease attttaimabilittrevenue neutral , but Family Tax of housing frrn'nn 120�Z. ttrensfers property tax Exeniptti :)n to 154 9/6 AMI quali'f'ied costs to rest cif property Prc-gramn houseehcafds. tax base Growth can occur depending coniunnunitty apetittie for increasing business activity and workforce he wsing availability., Cyclic based cm eccmr,.),nny., However, on average very sustainable based an A State tax structure.. Comii'mercial activity is, what drives city revenue., This includes professional services, services, ttrades, 5,1111011 business, lmanufacturing, etc. High growttii pr,ttenttial if MF developmuentt Creates long tterxnn can be established as financial sustainability fca-r the norm fc::r-r unit cities., creation.. Depends can housing N/A. density devlecipamentt Goal to mnaxiniJze devek::rpmnentt of new attainable units. We need fig"'iim of all new units to, be attainable h1/ or affordable_ Based cm D,ept., of Coin nnerce 20 yr Depends c:an lab types Huge innprc.:weinnentt'in equity in housing., Aparttnientts serve all people at different stages, ca -f Fife and dc:rn`tt Equitable use of the right of way 'for housing purposes Makes, housing available for nnc:,,re people.. lRequires, dedicated investni ,ntt in econoinic developimentt and housing Zoning is the key driver for raking land available for a pa nmentts., C,c:yuncil decision Council decision larking and strategy deveIopine ntt. Balancing good paying Icibs with craminlunitty needs is, the key .strategy f:c:,r conii'niercial growth. �ie artts corn,munitty) Best return on investment Is, aparttnnentt rlplexes., - Strong Towns., 3.91 666667 1 A.5 Growtth pottenttialfrnr housing A.16666667 density growth potential for housing = >1176 eligilbe units, 3.861111 out of 1448 units, needed by 20444 Next Steps Financial Sustainability Task Force Meetings continue through June Comprehensive Financial Sustainability Report to Council in July Public Engagement Videos uestions / Feedback for all Teams What is missing from this picture? Anything you would in the final report? like to see addressed Anything missing in the process? ThankYou Questions? Discussion and Feedback Hdy� y Figure 2. Illustrating R.-Ilzormig density cchieved. onlycr hondfulof blocks in th.,e City cre devoeloped tofull mtended density Stir its 4,200, slf := 5-1 units/ricre fortotol hand area 61 un i't,s, 14'0,,0,00.sf,= ,9.71,4�ni',tslcpc,reofp,,fottlIL3d torid with hotre s aver, ., . . � 5` ss f ks right of w4096of the licind area