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SUBJECT: <br />DATE: <br />2018 DRAFT LRC BUDGET DISCUSSION <br />OCTOBER 9, 2017 <br />PAGE 2 OF 3 <br />2018 is the first year of a percentage contribution to the City for the South Street <br />pedestrian gateway. The formula is 25% of TIF revenue after the County TIF shareback <br />payment and the City's support services payment. With the preliminary assessment, <br />the 2018 payment is $317,810. <br />Repayment of TIF Revenue to Boulder County <br />7.15% of TIF revenue received equals $100,580. <br />Downtown Parking Analysis ($80,000) <br />This is a carry forward from the 2017 budget. The RFP is planned to be released after <br />determining the outcome of a future grant request to the Denver Regional Council of <br />Governments (DRCOG) to assist with the project. Information from the Parking Analysis <br />will assist in determining future strategies to address parking challenges in downtown <br />Louisville. <br />TIF Rebate — Loftus /Safeway Development <br />Third year of payment towards the rebate estimated at $192,000, which represents the <br />remaining funding for the entire commitment ($380,000). Actual amount will be <br />confirmed after the final assessments are determined for the project. <br />South Street Reconstruction ($146,673) <br />Remaining estimated funds to assist the City in doing a full reconstruction of South <br />Street from Cannon Street to Highway 42. The funds were initially allocated to the <br />Regional Detention Pond but that project came in under budget. LRC approved a 2017 <br />budget amendment to reallocate the funds. <br />Payments From Construction Fund ($569,885) <br />Estimated amount remaining in the Construction Fund as of the end of 2017 to pay out <br />for the Core Project Area infrastructure project. <br />Bond Maintenance Fees <br />Fees payable to the Escrow Agent for the Core Project Area funding. <br />Bond Payment — Interest ($125,000) <br />Estimated interest payment towards the Core Project Area TIF Bonds according to the <br />formula. <br />Bond Payment — Principal ($75,000) <br />Estimated principle payment towards the Core Project Area TIF Bonds according to the <br />preliminary assessed value within the Core Project Area. <br />LOUISVILLE REVITALIZATION COMMISSION <br />7 <br />