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1 <br /> <br />TOWN OF TRUCKEE <br /> PUBLIC FINANCE COMMITTEE MEETING <br />AGENDA – Meeting #2 <br />Wednesday, August 1, 2018 1:00 p.m. <br />Town Hall – Prosser Room <br />10183 Truckee Airport Road, Truckee, CA <br /> <br /> <br /> <br />Attendees: Art Chapman, Jeff Cotton, Dennis McGuire, Jessica Abrams, Ted Owens, Mike Isle, <br />Joan Jones, Kathleen Eagan, Patrick Flora, Jason Hansford, Mike Whipple, Kim Szczurek, Jeff <br />Loux <br />Taking notes: Kelly Larson <br /> <br /> <br />Truckee Public Financing Dialogue <br /> <br /> <br />1. 1:00-1:20 pm Any additional issues, questions or concerns generally – revisit <br />the 2% total tax/assessment issue <br /> <br />2. 1:20-1:55 pm Detailed review of the eligibility criteria/extraordinary public benefit <br /> <br />3. 1:55-2:30 pm Detailed review of options including any new options or variations <br /> <br />4. 2:30-2:50 pm Summary – conclusions – What do we want to say to Council <br /> <br />5. 2:50-3:00 pm Next Steps <br /> <br /> <br />The notes from Kelly provide more detail, but here is what it appears (so far) that we have <br />concluded on some key questions: <br /> <br />1. A limited and well defined form of public financing is acceptable for highly desired <br />projects. <br />2. Case by case review is essential. <br />3. A 2-3 year pilot phase with a comprehensive “check-in” with Council is critical. <br />4. The two forms of public financing have their pros and cons; Town needs to have the <br />discretion to decide which to use, but all of the forms seem possible depending on the <br />case (provided we use a JPA and meet all the other tests like Town owned <br />infrastructure, etc.). <br />5. Need a mechanism (besides the check in) to track total public debt and keep the over- <br />lapping burden preferably below 3% of AV. <br />6. Not sure yet regarding the 2% of total tax question, but some are leaning toward 1.6- <br />1.8% maximum. <br />7. Eligibility criteria and what constitutes “extraordinary public benefit” needs to be as <br />objective and measurable as possible, and link directly to Council Goals.