City Council Minutes 1985 09 03 - Laserfiche WebLink

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The presentation by Hundley included a comparison of area city's mil]. levy, sales tax rate, and use tax. An explanation of where property tax dollars go and how they are currently used was also presented by Hundley. It is Hundley's recommendation that the monies generated from this proposed 2 mill increase would be used solely for Capital Improvement Projects. Presently, the City has a 2$ sales tax and no use tax. Hundley stated that if the City is unable to find an alternative way to obtain additional revenues, the City will be totally reliant on the building industry. "Inherent in that are three problems with this dependency -- 1) as the building industry goes up and down, so goes our ability to get projects and needed improvements accomplished; 2) every dollar that goes for capital improvements which benefit all City residents, comes only from new residents -- from building permits that new residents are paying; 3) this has cause a higher development fee than you would find elsewhere. It is incumbent that new development pay its own way, it is also important for the City as a whole to pay for those projects which benefit all City residents." Mayor Meier opened the Public Hearing and Rautenstraus read i_n its entirety, Resolution #18, Series 1985, "A Resolution adopting the Public Disclosure Procedure to increase Property Taxation payable within the City of Louisville under the Colorado Revised Statutes." Rautenstraus stated that proper notice was published in the Louisville Times and the Boulder Daily Camera. Thirteen (13) residents spoke out in opposition of the property tax increase; one (1) resident spoke in favor. Among concerns of those residents speaking in opposition to this issue: 1) the purchasing of open space as opposed to acquiring it by other means; 2) budget management, i.e., finding alternative sources of revenue by aggressively seeking industry, business, etc. 3) philosophies of Council concerning growth issues may have caused the f inancia 1 strain the City is experiencing; 4 ) t:he increase may "take away" the attractiveness of development and industry locating in Louisville; 5) the $100,000 generated by the proposed increase would not adequately help the current financial situation and would not be a long-term solution. In favor of the proposed property tax increase, Pat Hornbastel, stated that the money generated 4