City Council Minutes 2005 09 06 - Laserfiche WebLink

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City Council Meeting Minutes September 6, 2005 Page 13 of 18 City's annual budget process, and some do not require funding and could be enacted administratively. The Commission understands a Loan and Grant Program in the City's budget may not allow for funding of these immediately or every year, but requests the creation of a program even if there is no funding. In the event the Commission is able to secure funding from another source (grants) the program is already in place to receive the funding. The Commission will pursue other forms of funding for the program including grants and permanent funding sources. The Commission gathered incentive information from municipal programs from other cities and from discussions with local business owners in the Downtown Business Association. Commissioner Heather Lewis reminded Council the incentive component is the key to preserving historic properties in Louisville. COUNCIL COMMENT Council member Van Pelt congratulated the Historic Preservation Commission for their work. She voiced her concern over the loan portion of the program, which would create a great deal of administrative work. She also expressed concern over the property tax rebate and the expedited process. Commissioner Melanie Muckle explained the City of Denver utilized property tax rebates for the redevelopment of LoDo. She stated if an owner alters the historic aspect of the building, they are required to pay back the rebate. She stressed the property tax rebate is a motivator for owners to preserve historic buildings. Mayor Sisk suggested a grant program. Council member Brown agreed and suggested partnering with a local bank to administer a loan program. Chairperson Koertje supported partnering with a local bank. Mayor Sisk summarized Council's discussion and instructed Staff to proceed with the non-economic issues. Council member Van Pelt questioned how the property tax rebate would be implemented and suggested a resolution be drafted to outline the process. Chairperson Koertje voiced the Historic Commission's thanks for Council direction on the incentive program. RESOLUTION NO. 35, SERIES 2005. A RESOLUTION APPROVING AN AMENDMENT TO THE CRYSTAL ESTATES FINAL PUD DEVELOPMENT PLAN AND SPECIAL REVIEW USE - FORDYCE AUTOMOTIVE - public hearing (advertised Daily Camera 8/24/05)