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<br />WHEREAS, the City Council of the City of Louisville hereby <br />determines that the increase in the capital improvement fee and <br />dedication requirements set forth herein are reasonably designed to <br />defray the overall costs of the services or facilities for which <br />the fees are imposed, and that the increases reasonably relate to <br />the needs created or contributed to by new development. <br /> <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY <br />OF LOUISVILLE, COLORADO: <br /> <br />Section 1. Section 3.16.020 of the Louisville Municipal <br />Code is amended to read as follows (words to be deleted are <br />stricken through; words to be added appear in capital letters): <br /> <br />3.16.020 Fee designated. <br /> <br />A. Any contractor applying for a building permit for a <br />residential dwelling unit in accordance with <br />Chapter 15.04 shall, as a condition of obtaining <br />such building permit, pay to the city a capital <br />improvement fee, as follows: said fee shall be paid <br />to the building official in the amount of one <br />thousand six hundred fifty dollars per unit, with <br />an additional fee of two dollars and twenty five <br />FORTY cents per square foot floor area as defined <br />in Section 3.16.010, as the same may be determined <br />from the plans and specifications submitted to the <br />building official as part of the application for a <br />building permit. A CREDIT MAY BE APPLIED AGAINST <br />THE CAPITAL IMPROVEMENT FEE FOR THE REASONABLE COST <br />OF CONSTRUCTION OR ACQUISITION OF IMPROVEMENTS <br />DESCRIBED IN SECTION 3.16.060 IF APPROVED BY THE <br />CITY COUNCIL IN ADVANCE OF SUCH CONSTRUCTION OR <br />ACQUISITION. <br /> <br />Section 2. Section 3.16.060 of the Louisville Municipal <br />Code is amended to read as follows (words to be deleted are <br />stricken through; words to be added appear in capital letters): <br /> <br />3.16.060 Capital improvement fund <br /> <br />use. <br /> <br />Any and all disbursements from the capital <br />improvement fund shall be limited to the following USES <br />DETERMINED BY THE CITY COUNCIL TO BE REASONABLY NECESSARY <br />TO RESPOND TO AND ASSIST IN DEFRAYING THE COSTS OF NEEDS <br />CREATED BY THE NEW CONSTRUCTION SUBJECT TO THE FEE: <br />constructing and improving major thoroughfares within the <br />city, the purchase and planting of trees within the city, <br />the purchase of real and personal property in conjunction <br />with construction of the capital improvement, to <br />construct or otherwise acquire OPEN SPACE, PARKS, TRAILS, <br />AND OTHER recreational facilities, TO CONSTRUCT, ENLARGE, <br /> <br />2 <br />