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City Council <br />Meeting Minutes <br />March 17, 2015 <br />Page 7 of 31 <br />1, Serving Louisville Residents in Need; <br />2: Diversifying Louisville's Workforce; <br />3. Reducing Transportation Demand; and, <br />4. Promoting Small -Town Family Friendly Atmosphere <br />He noted BCHA had provided an updated fiscal model the Council members had in <br />front of them. In this model received the day before the meeting, the County has taken <br />into consideration the square footage to have been used by Art Underground and will <br />now be figured into the retail square footage. The net fiscal balance ongoing operations <br />is reflected as - $130,000 versus the - $160,000 in the original calculations and the one <br />time net capital expenditures fiscal balance from $871;000 to $660,000. <br />Staff recommended the City Council approve Ordinances No 1679, Series 2015, No <br />1680, Series 2015, with the changes as noted in the presentation, and Resolution No <br />13, Series 2015, which approves the Annexation Agreement. <br />Economic Development Director DeJong reviewed the request from BCHA for local <br />Financial Assistance. <br />• BCHA signed an IGA in 2012 with Louisville to maintain 146 affordable housing units <br />and also create an additional 15 units within 5 years. <br />• BCHA purchased 13.4 acre parcel along Highway 42. in 2013 for an affordable housing <br />project <br />Initial plans were to begin a project in 2017 -18. <br />Louisville has provided assistance to previous affordable housing projects, notably; <br />— Lydia Morgan 1995. 100% fee and tax waivers, • waiver of the facilities and <br />thoroughfare fees, and • construction funding for water mains and sidewalks <br />- Sunnyside Place 1996. 100% fee and tax waivers, • waiver of the facilities and <br />thoroughfare fees, • paving a portion of East Street, and • construction funding for fire <br />hydrant <br />• BCHA has requested; <br />— Rebates or waivers of City Building Permit Fees <br />— Waivers of Impact Fees <br />- Financial assistance with street construction <br />• City Plan Review Fees <br />— Based upon $52,000,000 construction costs (affordable housing) <br />— $430,500 in Building Permit fees <br />• Impact Fees <br />— Library - $55,890 <br />— Parks and Trails - $313,812 <br />— Recreation - $207,207 <br />— Municipal Facilities - $71,208 <br />