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L Cityqf Louisville COLORADO - SINCE 1878 December 18, 2012 Mayor and City Council City of Louisville 749 Main Street Louisville, CO 80027 Dear Mayor and City Council: Office of the City Manager I am pleased to present to you the 2013 Annual Operating and Capital Budget. The City of Louisville Municipal Code section 3.04.030 states that the City Council shall adopt an annual budget for each fiscal year in accordance with the procedure set forth in the Local Government Budget Law of Colorado, (Code 1962, 6.2; Code 1977, 3.04.020). City Council formally adopted the 2013 Budget on November 5, 2012 by passing Resolutions 71, 72, and 73. The City is in good fiscal health. This is the result of several things including (1) the voters approving the Use Tax in November 2010, (2) the current level of building activity generating an increase in building permit and building use tax revenue that is likely to continue for several more years, (3) Louisville being recognized as a great destination for food and fun and the resulting sales tax revenue generated by those activities, and (4) the actions that you approved in late 2009 and early 2010 to bring the City's expenditures and revenues back into balance even though we had lost two of the City's largest retail businesses (Sam's Club and Safeway). The City's fiscal health makes it possible to adopt a 2013 Budget and Five -Year Capital Improvements Plan that would fund several large capital projects including the City Services Facility reconstruction ($6.5 million), the Diverging Diamond Interchange at McCaslin Blvd and U.S. 36 ($3.5 million to be combined with $9.0 million from other entities), and the South Street Gateway Underpass ($2.9 million), while still increasing funding for the City's street resurfacing program from the current level of $1.25 million, to $1.5 million in 2015 and then $1.75 million in 2016 and 2017. This will optimize the level of resurfacing we can do and minimize the life -cycle costs of maintaining the City's streets. 2013 Goals Based on the City Council's discussion and direction, culminating in the September 4, 2012 Council meeting, the identified goals for 2013 are: • CITIZEN SERVICES: evaluate communication strategies, access to public information, and new electronic services we might offer. • ECONOMIC DEVELOPMENT: prioritize branding and marketing for McCaslin Business District and CTC, continue work on Highway 42 Gateway, evaluate landscape requirements for commercial /industrial projects. • RESTORE THE GRAIN ELEVATOR: apply for State Grants; facilitate /encourage formation of 501(c)(3) for private donations; coordinate stabilization and redevelopment. 1