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PAGE 2 OF 3 <br />SUBJECT: RECEIVE THE ARTS AND CULTURAL COMMISSION’S PUBLIC BENEFIT <br />ASSESSMENT FOR PUBLIC ART RESEARCH STUDY AND PROVIDE DIRECTION <br />ON THE COMMISSION’S RECOMMENDATION TO PREPARE AN ORDINANCE <br />DESIGNATING ONE HALF OF ONE PERCENT OF ALL PRIVATE BUILDING <br />PROJECTS WITH TOTAL CONSTRUCTION COSTS GREATER THAN $200,000 FOR <br />FUNDING PUBLIC ART PROGRAMS IN THE TOWN <br />J UNE 19, 2018 <br /> <br />S:\COUNCIL REPORTS \2018 \06 -19 -18 \17 Arts Assessment \Staff Report.FINAL.docx 6/14/2018 11:26 AM <br />BACKGROUND (Continued): <br /> <br />The Arts and Cultural Commission created s ubcommittees to further develop sub -goals within <br />each area . The s ubcommittees reported on progress and facilitated discussion at subsequent <br />Arts and Cultural Commission meetings. At the April 18, 2017 Town Council meeting, the <br />Commission presented the possibility of investigati ng a development assessment fee for arts <br />funding as one of two priority goals . <br /> <br />DISCUSSION : <br /> <br />Since that time, t he Commission began investigating successful public arts funding programs in <br />other municipalities and determined that implementing a potential co mmercial or residential <br />development assessment fee, often referred toAasAaA“percent -for -art”Afee,AwasA a common basis <br />for creating public arts funding. <br /> <br />The Commission researched 23 cities of various sizes that had implemented some form of <br />development asse ssment focusing on understanding the details of such programs. The <br />research done by the Commission is contained in the Public Benefit Assessment for Public Art <br />Research Study (Attachment 1). <br /> <br />Based on this study , the Commission has concluded that adopting a similar model of <br />development assessment fees through an ordinance process would be successful for the Town <br />of Los Gatos . Based on its research, the Commission recommends preparing an ordinance that <br />would assess a development fee set at one half of one percent (0.5 %) of the total cost of <br />private building projects with total construction costs greater than $200,000 to be allocated for <br />public arts funding . The Commission is not recommending any development assessment on <br />public construction projects. <br /> <br />If the Council is in favor of considering theA rtsAandACulturalACommission’sArecommendation , <br />funding would need to be allocated to complete necessary next steps for s taff to determine <br />feasibility. These steps at minimum would include a legal analysis , comple tion of any required <br />n exus study for new impact fees, and a financial analysis prior to the development of an <br />ordinance . <br /> <br /> <br /> <br /> <br />