Laserfiche WebLink
Louisville <br />COLORADO • S1NC N - <br />LOUISVILLE REVITALIZATION <br />COMMISSION <br />SUBJECT: <br />RESOLUTION 16-02: APPROVING THE 2017 PROPOSED LRC <br />BUDGET <br />DATE: DECEMBER 12, 2016 <br />PRESENTED BY: AARON M. DEJONG, ECONOMIC DEVELOPMENT <br />SUMMARY: <br />This memo is to highlight components of the recommended budget for the 2017 LRC <br />budget year. <br />DISCUSSION: <br />The County has the final assessment increment for the Urban Renewal Area at <br />$9,413,158 which translates to TIF revenue of $800,000. <br />Notable budget line items are as follows: <br />Support Services <br />$34,030 for City Staff and Legal services provided during the year. <br />South Street Gateway contribution <br />2017 is the final year of defined contribution towards the South Street Gateway <br />($75,000). Future budget year payments will be determined by a percentage of <br />revenue. <br />Repayment of TIF Revenue to Boulder County <br />7.15% of TIF revenue received equals $60,000. <br />Downtown Parking Analysis ($80,000) <br />Funding to perform a feasibility study of locating, financing, constructing and <br />maintaining a downtown parking structure. Have a parking consultant seek community <br />input and analyze locations for such a structure, conceptual drawings, construction <br />estimates, revenue estimates, maintenance costs, ownership structures/partnership <br />feasibility. <br />An RFP from Washington State is attached as a possible template to consider. <br />Gateway Base w/Plaque ($3,000) <br />Funding to construct an outdoor art base with a commemorative plaque for the South <br />Street Gateway Underpass. <br />DELO Opening Celebration ($4,000) <br />LOUISVILLE REVITALIZATION COMMISSION <br />