2011 Annual Comprehensive Financial Report

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The City of Louisville is located in the Denver metropolitan region, approximately 6 miles east of the City of Boulder and 25 miles northwest of Denver. Louisville has an incorporated area of approximately 7.9 square miles and a population of approximately 18,500. The City's residential growth peaked in 1992 and has since slowed significantly as the City nears the target population of about 23,000 that is contained in the Community Vision section of the City's Comprehensive Plan. The City is strongly influenced by the U.S. Highway 36 corridor from Denver to Boulder, and development in adjacent municipalities. MAJOR INITIATIVES IN 2011 The City of Louisville Home Rule Charter suggests that the City's mission is to provide basic municipal services in an efficient and cost - effective manner and maintain the qualities that make Louisville unique by protecting and enhancing the City's natural, cultural, and recreational resources, and preserving the City's scenic, historic, and aesthetic features through open and ethical government in which every member of the community has an opportunity to participate. Consistent with this mission, City leaders and staff accomplished the following during 2011: • Continued to monitor the recent recession's affects on the City's revenues and adjusted expenditures to ensure service levels reflect revenue constraints. Implemented Consumer Use Tax option from November 2010 ballot. • Continued working with the current owners of and parties interested in acquiring the former Sam's Club and Safeway properties to ensure that desirable retail uses are located in those facilities as soon as possible. Explored the viability for non - retail uses and provided status reports monthly to BRaD Committee, and bimonthly to City Council. • Coordinated efforts with the Regional Transportation District (RTD) and Colorado Department of Transportation (CDOT) to begin construction of Queue Jump ramps at the U.S. 36 /McCaslin Interchange as well other improvements including extending the HOV lanes from Westminster to 88th Street in Louisville. • Prepared illustrations and cost estimates of potential alternatives for improving pedestrian safety and addressing other issues at this location the McCaslin /Washington intersection. Engage public review and select design alternative. • Completed the five -step Highway 42 Corridor Study and develop an Implementation Plan based on the conclusions from that study. • Completed grain elevator assessment and developed next steps for 2