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NCIL COMMUNICATI <br />TO: MAYOR AND CITY COUNCIL <br />FROM: MALCOLM FLEMING <br />CITY MANAGER <br />DATE: MAY 27, 2008 <br />SUBJECT: DISCUSSION -SAMPLE HISTORIC PRESERVATION SALES TAX <br />BALLOT QUESTION <br />ORIGINATING DEPARTMENT: CITY MANAGER'S OFFICE <br />SUMMARY: <br />Council members requested that staff prepare a draft ballot question asking voters to consider <br />increasing the City's sales tax and devoting the proceeds from the increase to historic <br />preservation purposes. The attached draft question assumes a 1/8% sales tax for historic <br />preservation purposes that would raise approximately $340,000 annually. The ballot question <br />provides for spending proceeds from the tax on a variety of programs including: <br />• Acquisition and rehabilitation of historic properties to be sold with conservation <br />easements <br />• Acquisition of conservation easements on historic <br />• Funding of grants and low-interest loan programs for rehabilitation of historic properties <br />• Completion of historic surveys on buildings in Louisville over 50 year old <br />• Funding of property tax rebates for landmarked properties <br />• Funding of sales and personal property tax rebates for businesses located in <br />landmarked properties <br />• Funding of sales and use tax rebates on the purchase of building materials used in the <br />rehabilitation of historic properties <br />• Funding of building permit fee rebates for permits required for rehabilitation of historic <br />properties <br />• Funding of a public/private foundation for historic preservation <br />• Funding of other historic preservation programs and expenditures as determined by city <br />Council <br />The programs specified are primarily taken from the recommendations provided by the Historic <br />Preservation Commission on April 21, 2008 by way of Resolution No. 2, Series 2008 (also <br />attached). Lastly, the ballot question has the tax beginning on January 1, 2009 and a blank line <br />for an expiration date should City Council desire to set a time limit on the proposed sales tax <br />increase. <br />SUBJECT DISCUSSION -SAMPLE HISTORIC AGENDA ITEM <br />PRESERVATION SALES TAX BALLOT <br />QUESTION <br />