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5 <br /> <br /> <br />3. Please address (again) the analysis used in the projections and how <br />conservative it is. <br />A. The City’s key financial drivers are property tax, sales tax, and personnel costs. <br />The assumptions for these key drivers are 3.5%, 2.0%, and 3.3% in annual <br />growth. <br /> <br />The City utilizes a balanced approach to develop the long-term forecast. <br />Revenue and expenditure projections are not too conversative or too aggressive. <br />It should be noted that the forecast is developed based on the financial and <br />economic data that is available today. The forecast may change due to changing <br />economic conditions such as an economic slowdown. The forecast is a tool that <br />provides insights into the City’s financial future. The trend lines indicate that <br />General Fund expenditures will outpace revenue in the long run. <br /> <br />Agenda Item #15 <br />1. Has the city expended resources to advance Master Planning for the Mall so far <br />in 2024, other than incidentals? <br />A. No, the City has not expended resources to advance the Master Plan in 2024, <br />other than staff time spent coordinating internally and to communicate with <br />various of the owners. <br /> <br />2. Does the Stoneridge Mall Framework process remain intact? Are there any <br />updates regarding the impediments to its fulfillment? <br />A. If the DA is approved by City Council, staff anticipates that the initial six-month <br />period will be used to define in more detail the scope, timeframe and steps to <br />advance the Framework/Master Plan for the Mall, including the roles and <br />collaborative process between the City and the owners. If, at the end of the six <br />months, no further funding is secured as outlined in the DA, and it is clear that <br />the owners, individually and collectively are unable to work together to progress