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Investing in the Future of Whitefish – Drinking Water, Wildlife Habitat, and Outdoor Recreation Whitefish Feasibility Research – September 15, 2014 ---PAGE BREAK--- Conserving Land for People The Trust for Public Land creates parks and protects land for people, ensuring healthy, livable communities for generations to come. Over 340 staff working in 30 offices in three regions TPL Mission Statement ---PAGE BREAK--- TPL Conservation Services Conservation Vision 50 communities to date Conservation Finance 400 measures over $35 Billion Conservation Transactions 4,000 projects over $5 Billion FMV Park Design & Development Conservation Research & Education 50+ publications ---PAGE BREAK--- • Where do we stand? • Threats and Opportunities: Haskill Basin • Funding quilt for protection • Options for investing in Haskill Basin • Other Montana efforts • Key questions for funding success • Next steps & timeline Conservation Funding Options – Overview ---PAGE BREAK--- Where We Are and What We Know ---PAGE BREAK--- What’s at Stake? • Residential development is occurring • Threat of more development • Development of Haskill Basin could affect: ---PAGE BREAK--- What’s at Stake? Further development of Haskill Basin could affect • 75% of the Whitefish’s water supply ---PAGE BREAK--- What’s at Stake? Further development of Haskill Basin could affect • 75% of the Whitefish’s water supply • Critical wildlife habitat ---PAGE BREAK--- What’s at Stake? Further development of Haskill Basin could affect • 75% of the Whitefish’s water supply • Critical wildlife habitat • Important viewsheds ---PAGE BREAK--- What’s at Stake? Further development of Haskill Basin could affect • 75% of the Whitefish’s water supply • Critical wildlife habitat • Important viewsheds • Trail connectivity plans ---PAGE BREAK--- What’s at Stake? Further development of Haskill Basin could affect • 75% of the Whitefish’s water supply • Critical wildlife habitat • Important viewsheds • Trail connectivity plans • XC ski access ---PAGE BREAK--- What’s at Stake? Further development of Haskill Basin could affect • 75% of the Whitefish’s water supply • Critical wildlife habitat • Important viewsheds • Trail connectivity plans • XC ski access • Whitefish’s recreation economy ---PAGE BREAK--- Feasibility Research Public Opinion Survey Program Recommendations Ballot Language Campaign Reliable process for successful ballot measures ---PAGE BREAK--- Feasibility Research • Funding quilt • Conservation options • GO Bonds • Resort Tax • Revenue Bonds • Water Rates • Property Tax • Water District • Election analysis ---PAGE BREAK--- General Obligation Bond – option #1 20-year Bond Issues at 3% Interest Rate 2015 Taxable Value for Open Space Bonds = $22,873,171 Annual Cost/ Year/ Bond Issue Size Debt Svce Avg. House* $1,025,000 $68,896 3.01 $13 $2,025,000 $136,112 5.95 $26 $3,025,000 $203,328 8.89 $38 $5,025,000 $337,759 14.77 $64 $10,025,000 $673,837 29.46 $127 *Median home assessed value = $175,000; taxable value = $4,323 Sources: FY15 Adopted Budget, p13 & City Mgr AV estimate. Bond Financing Costs for Whitefish Mill Levy Increase ---PAGE BREAK--- Resort Tax – option #2 • Whitefish resort tax is 2% • Only jurisdiction of the eight maximum • Increase from 2% to 3% = $1 million/year ---PAGE BREAK--- Revenue Bonds & Resort Tax – option #2a ---PAGE BREAK--- Water Rates – option #3 • 10% water rate increase = $249,000/year • With low-interest State water fund loan, City could secure $3 million+ revenue bond ---PAGE BREAK--- Property Tax – option #4 Mill Levy Value of Annual Increase One Mill Revenue 5.00 $22,873 $114,365 $22 $7 $13 10.00 $22,873 $228,730 $43 $13 $26 20.00 $22,873 $457,460 $86 $26 $52 25.00 $22,873 $571,825 $108 $33 $65 Median home assessed value = $175,000; taxable value = $4,323 Sources: FY15 City Budget, & City Manager. Cost / $200K House Estimated Revenue & Costs of Property Tax Increase Cost / Avg. House* Cost / $100K House ---PAGE BREAK--- Local Water Quality District – novel option • 1991 authority to protect, preserve & improve surface/ground water quality • Annual fee on all property using water or producing waste • Pros and Cons ---PAGE BREAK--- Local Montana conservation success since 1998 ---PAGE BREAK--- • Jurisdiction • Funding Mechanism • Amount (and duration) • Voter Support/Tax Tolerance • Purposes/Uses of Funds • Timing (choice of election date) • Management/Accountability elements Key questions for funding success ---PAGE BREAK--- • Determine support for funding land conservation • Test voter priorities/benefits • Sample ballot language • Understand tax tolerance • Fiscal safeguards, accountability elements • Find out best messengers & messages Public opinion survey ---PAGE BREAK--- • Conduct public opinion survey in January 2015 • Survey data determines • If this is the right year and election • Proper funding mechanism • Best ballot language & messaging • Proper amount Next Steps ---PAGE BREAK--- Dee Frankfourth & David Weinstein Conservation Finance Program [EMAIL REDACTED]