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Louisville City Council Meeting <br />August 15, 2000 <br />Page 6. <br /> <br />Davidson stated that he favors burial of the power lines. He reviewed the suggested <br />funding methods and stated that the City is continuing to look at other funding methods. <br />He stated that the voters have restricted the open space and sales tax funds for the <br />acquisition of open space, parks and trails. He noted that the current cost projection for <br />funding the burial of the power lines is $600,000 per year for 20 years. Davidson stated <br />that burying the power lines is a very expensive project and he welcomed any and all <br />citizen suggestions. He noted that the public meeting would address many of the issues <br />and questions, and that notice will be given to the citizens of the August 23rd public <br />meeting. <br /> <br />MOTION: Keany moved that Council continue Resolution No. 42, Series 2000 to <br />September 5, 2000, seconded by Howard. All in favor. <br /> <br />ORDINANCE NO. 1342, SERIES 2000 - AN ORDINANCE ORGANIZING THE <br />MAIN STREET LOUISVILLE BUSINESS IMPROVEMENT DISTRICT, <br />APPROVING ITS OPERATING PLAN AND BUDGET, AND APPROVING AN <br /> INITIAL BOARD OF DIRECTORS THEREOF - 2nd reading - public hearing <br /> (advertised Daily Camera 8/6/00) <br /> <br />Davidson called for City Attorney introduction. <br /> <br />City Attorney Sam Light read Ordinance No. 1342, Series 2000. <br /> <br />Davidson opened the public hearing and asked for Staff presentation. <br /> <br />City Attorney Sam Light made preliminary comments. He stated that this is a public <br />hearing on the proposed organization of the Business Improvement District under State <br />Statues. He noted that on July 14, 2000, the proponents filed with the City Clerk, a <br />petition to form the district. The district includes a proposed service area of both <br />commercial and residential properties. Also within the service area are the district <br />boundaries. The boundaries of the district include commercial property only. <br /> <br />Light explained that the City Council must determine whether the petition is signed in <br />conformity with state law. The petition must be signed by persons who: (1) Own real and <br />personal property in the service area of the proposed district having an assessed value of <br />at least 50% of the total assessed value, which includes both residential and commercial <br />property. The City Clerk has verified that the petitions have signatures for 59.52% of the <br />proposed district. <br /> <br />6 <br /> <br /> <br />