City Council Minutes 2007 01 02 - Laserfiche WebLink

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City Council Meeting Minutes January 2, 2007 Page 5 of 10 Council member Muckle explained the expressed intent of the resolution requires the Council to examine certain issues and make decisions on sales tax increments and property tax for the urban renewal district, which would not require voter approval. He stated Section 3 does not require a plan be developed within one year, but to prioritize projects during the comprehensive plan review process. He statE~d the resolution is not all about voter approval and he was willing to consider removing Section 1 in recognition that an election could not be held for two years. City Attorney Light stated SeGtion 1 of the resolution does not legally bind future Councils from exercising their authority. He noted in Section 4, the City has the right to issue revenue bonds, with voter's approval, however an urban renewal authority does not require voter's approval on tax increments revenue bonds. He addressed Section 7, regarding RTD, and stated it did not create a legal obligation for the City or the urban renewal authority to provide funding to mitigate the impacts of the RTD project. Council member Marsella noted the resolution states the City will work with RTD to mitigate the impacts. She felt the statement was more than an expectation. Council member Muckle statE~d the resolution does not state the City will spend funds to mitigate RTD projects on the citizens or local businesses. He stated Section 6 and 7 are responses to citizens concerns on the urban renewal plan. Mayor Pro Tem Brown stated the resolution gives a blanket statement of intent and noted Section 3 requires a plan within one year. MOTION: Council member Muckle moved to approve Resolution No. 59, Series 2006, seconded by Council member Yarnell. Roll call vote was taken. The motion failed by a vote of 5-2. Council members Muckle and Yarnell voted yes. ORDINANCE No. 1507, SERIES 2007 - AN ORDINANCE ENACTING A NEW CHAPTER 3.24 OF THE LOUISVILLE MUNICIPAL CODE TO ESTABLISH AN ENHANCED SALES/USE: TAX INCENTIVE PROGRAM AS A BUSINESS ASSISTANCE PROGRAM OF THE CITY _1st reading - set public hearing 1/16/07 Mayor Sisk requested a City Attorney introduction. City Attorney Light read Ordinance No. 1507, Series 2007, and reviewed the red line revisions to the ordinance. Mayor Sisk requested a BRaD committee presentation. Mayor Pro Tem Brown explained the ordinance provides the Council and City Staff the tools to move forward with business retention and development. He