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[*Note Amendments shown above are to Section 3 20 200 as amended by Ordinance No 1724, <br />Series 2016, effective January 1, 2018 ] <br />B. Effective January 1, 2019, Section 3.20.605 of the Louisville Municipal Code <br />is hereby amended to read as follows (words added are underlined; words deleted are <br />striclaen-thfeugh): <br />Sec. 3.20.605. Sales—Tax—Historic preservation tax and fund. <br />A The histonc preservation fund is established as a special revenue <br />fund to account for revenues derived from the temporary one-eighth of one <br />percent sales tax for histonc preservation purposes imposed for the ten-year period <br />beginning on January 1, 2019, and from the one-eighth of one percent rate of use tax <br />allocated to such fund January 1, 2003 <br />B Revenues from such temporary one-eighth percent sales tax and <br />such one-eighth percent rate of use_tax _ <br />on January 1, 2009 shall be deposited into the historic preservation fund and the <br />net proceeds of such one-eighth percent rate of sales and use tax shall be <br />collected, retained and spent exclusively for the following purposes, provided, <br />that prior to January 1, 2019, such funds shall be spent exclusively within histonc <br />Old Town Louisville, which area includes the "Histonc Old Town Overlay <br />District" and "Downtown Louisville" as defined by the city zoning map and <br />ordinances, in order to preserve the unique charm and character of historic Old <br />Town Louisville, and provided, further, that on and after January 1, 2019, any <br />funds wnthm the historic preservation fund may be spent within historic Old Town <br />Louisville or withui any other area within the boundaries of the City, as existing <br />from time to time, provided that any expenditure of such funds outside histonc <br />Old Town Louisville is approved by the affirmative vote of not less than five <br />members of the entire city council <br />1 Provide incentives to preserve histonc resources, including funding <br />of programs to identify and attempt to preserve buildings which <br />quahfy for fisting on the Louisville Register of Histonc Places, <br />2 Provide incentives to preserve buildings that contribute to the <br />histonc character of h+s4efie—Gld—T-ewfi Louisville but do not <br />qualify for listing on the Louisville Register of Histonc Places, <br />with such buildings to be treated the same as histonc buildings but <br />with lower priority, <br />3 Provide incentives for new buildings and developments within <br />Louisville to limit mass, scale, and number of <br />stones, to preserve setbacks, to preserve pedestrian walkways <br />Ordinance No 1743, Series 2017 <br />Page 3 of 7 <br />