5. Improve Town’s Fiscal Condition

Diversify revenue sources consistent with Town values to reduce pressure on residential property tax; identify and pursue internal operating efficiencies; and develop a strategic financial plan for long-term sustainability [Phil Boyle Document, Council Retreat 2008].

Assumptions

Council Identified Assumptions:

• The tax base will increase [Council Work Session Feb, 2008].
• *More than half of Chapel Hill’s residents work somewhere else [Council Work Session Feb, 2008].

Comprehensive Plan Goal Assumptions:

• *The Town should identify areas where there are creative development opportunities [Comp Plan, Theme 5].
• *The Town should encourage desirable forms of non-residential development [Comp Plan, Theme 6].
• *The Town should develop strategies to address fiscal issues [Comp Plan, Theme 12].

Staff Assumption:

• The findings and recommendations of the Fiscal Equity Study will serve as strategies for improving the Town’s fiscal condition [Staff].

*    Indicates an assumption that is repeated throughout the six strategic prioritized goal areas

Indicates two opposing assumptions