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<br />City Council <br />Study Session Summary <br />April 24, 2007 <br />Page 2 of 2 <br /> <br />Marsella noted that the City Council needs to understand the fiscal consequences of not <br />being open to some development. <br /> <br />Council discussed the development process in general and if there are processes that <br />should be adjusted. <br /> <br />Members suggested the City needs a destination venue in Louisville to attract <br />development. <br /> <br />Council decided to add some development goals and discussion to its annual budget <br />goal setting session in June. <br /> <br />Update on 2007 Year-to-Date Sales Tax Revenue and Staff Presentation of the <br />Proposed 2008 Budget Process <br />Leslie reviewed the sales tax revenue for the first two months of 2007. She noted that <br />the information for the full first quarter is not yet available. Leslie stated that revenue is <br />coming in only slightly below budget for 2007, but the critical months will be spring when <br />the home improvement centers generally begin to see much larger revenue. <br /> <br />Brown reminded Council that the 2007 budget already was established lower than <br />previous years meaning that if we are below budget, we are well below budget <br />compared to previous years. <br /> <br />Council members agreed to schedule the 2008 budget goal setting session for the <br />afternoon of Thursday, June 14. <br /> <br />City Manager's Report <br /> <br />Balser briefly went over the following items: <br />. Anticipated agenda for the May 1 meeting <br />. The schedule for comments for the US 36 Environmental Impact Statement <br /> <br />Adjourn - The meeting adjourned at 8:14 PM. <br /> <br />Submitted by Meredyth Muth, April 25, 2007. <br />