City Council Minutes 2008 09 02 - Laserfiche WebLink

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City Council Meeting Minutes September 2, 2008 Page 11 of 13 provides for financing only and not ongoing operation of the public infrastructure. He stressed the importance of a clear disclosure to prospective homebuyers advising them of the Metro District and how that would affect their taxes. He asked if a City Councilor could be a member of the Metro District Board. City Attorney Light noted a Board Member must be a resident living within the Metro District. Councilor Muckle asked if the Metra District's public infrastructure would meet City standards. City Attorney Light explained the Metro District does not replace the City's requirements and all public improvements must be approved by the City. Mayor Pro Tem Marsella stated the mill levy is set at 34 mills and asked if increasing the mills would require City Council approval. Mr. Brew stated it would not require City Council approval however no new bonds could be issued. Mayor Pro Tem Marsella asked City Attorney Light if the service plan addressed his concern with the Metropolitan District. City Attorney Light stated he was satisfied with the financial plan and t;he service plan. Councilors Dalton and Yarnell supported the service plan. Councilor Yarnell asked what would happen if the funding for the underpass and the monument signage was not available. City Attorney Light stated under the service plan the City is responsible for completing thE; projects. If the funds are not used by the City within ten years after the bonds have been issued, the remaining funds would be returned to the developer. Mayor Sisk said he generally did not support Metro Districts in Colorado but supported a Metro District for this particular project for several reasons. He stressed the importance of complete disclosure to the homeowners. He suggested 50 mills to cover all contingencies. He did not support returning the funds to the developer if the projects are not completed within the ten year period and asked staff to prepare an alternative. MOTION: Mayor Sisk moved to continue the proposed Takoda Metro District to September 16, 2008, seconded by Councilor Dalton. All in favor. DISCUSSION/DIRECTION/ACTION -PROPOSED LOUISVILLE REVITALIZATION COMMISSION (LRC) BUDGET City Manager Fleming explained the submission of the 2009 Louisville Revitalization Commission (LRC) budget is required for review and approval per the Cooperation Agreement between the City Council and the LRC. The 2009 request includes $10,000 for legal fees and $125,000 for professional services. The LRC continues to anticipate utilizing professional services to assist in