Land Use Models & Municipal Budgets: How City Planners can help lead the Community’s Financial Conversation
Friday, September 15, 2017
9 a.m. - 10:30 a.m. CDT
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This event was a well-received and positively evaluated (via the surveys) Chicago Metro Section CMS-APA event in April 2017.
“Become friends with your finance director.” Amusing, yet very sound advice, from Shayne Kavanagh. Essentially, planning and municipal financial planning should go hand in hand to ensure sensible policy decisions are made regarding land use and development. As Senior Manager of Research for the Government Finance Officers Association, Shayne provided a financial planning perspective to the conversation and gave even more practical advice in saying, “Financial modeling can bring a sense of reality to make decisions and understand how finances work.”
Bill Cooney, AICP, Director of Community Development for the Village of Mount Prospect, brought the municipal perspective with his 20+ years of experience at the Village, including the success of revitalizing Randhurst Village, to jumpstart a struggling regional mall and spur significant reinvestment along the Rand Road Corridor.
Ultimately many elected and appointed officials follow the money. In the post-recession environment budgets are persistently tight. Planners can leverage budget talks and the increased focus on municipal finances to facilitate strategic discussions about the community’s land use policies, market and trade area, tax structure, and economic development potential. However, the financial impacts of specific land uses are not often central to planners’ day-to-day considerations. This session will explore how land use decisions impact municipal budgets and how planners can keep this in mind to play a more constructive role in planning for municipal finances. Panelists will discuss:
• The impact that different types of development can have on municipal revenues and costs in different types of communities (e.g., new growth vs. built-out communities);
• How these concepts fit into the context of long-term financial planning and financial models used by finance and budget directors, including the impact on the long-term financial sustainability of communities; and
• How to think about these concepts in practice, from a community-wide scale down to site-level redevelopment projects.
• How to “start from scratch” in a local government agency that has not historically conducted EAV, business use mix, land use model, and other types of financial condition assessments to help inform economic development and city/county planning policy
• What a financial indicator is, what it tells a municipality, and why city managers and finance directors use them
• A detailed overview of ICMA's Evaluating Financial Condition toolkit and how to gather data and generate the financial performance ratios, metrics, and indicators
• How to use financial indicators to help tell a story about the community's financial condition; this financial assessment can help be a catalyst for local government economic development and planning/zoning public policy
Drew Awsumb, AICP
Ranadip Bose, AICP
Trevor Dick, firstname.lastname@example.org