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RESOLUTION NO. 43 <br />SERIES 2018 <br />A RESOLUTION OPPOSING AMENDMENT 74 AMENDING THE <br />COLORADO CONSTITUTION TO LIMIT STATE AND LOCAL <br />GOVERNMENT SERVICES AT A HIGH COST TO TAXPAYERS <br />WHEREAS, local government services are essential to the citizens of the City of <br />Louisville; and <br />WHEREAS, Amendment 74 has been written to change the text of the Colorado <br />Constitution, Article II, Section 15, which dates back to 1876, in a manner that threatens <br />basic governmental services; and <br />WHEREAS, Amendment 74 declares that any state or local government law or <br />regulation that "reduces" the "fair market value" of a private parcel is subject to "just <br />compensation;" and <br />WHEREAS, while Amendment 74 appears to be a simple amendment, it has far <br />reaching and complicated impacts; and <br />WHEREAS, under the current Colorado Constitution, a property owner already <br />has the right to seek compensation from state or local governments; and <br />WHEREAS, Amendment 74 would expand this well -established concept by <br />requiring the government, through taxpayer funding, to compensate private property <br />owners for virtually any decrease in the fair market value of their property traceable to <br />any government law, regulation or action; and <br />WHEREAS, Amendment 74 would severely limit the ability of Colorado's state <br />and local governments to do anything that might indirectly, unintentionally, or minimally <br />affect the fair market value of any private property; and <br />WHEREAS, Amendment 74 would drastically diminish the ability of the City of <br />Louisville as well as the state and other local govemments to adopt and enforce <br />reasonable regulations, limitations, and restrictions upon private property, and <br />WHEREAS, Amendment 74 would jeopardize the City's ordinances and <br />regulations, designed to protect public health and safety, the environment, our parks <br />and open spaces, public infrastructure, and other public resources; and <br />WHEREAS, Amendment 74 would directly impact the City of Louisville's ability to <br />apply zoning, density limitations, and other development planning tools; and <br />WHEREAS, Amendment 74 would results in an increase in costly lawsuits <br />against local governments, as any arguable impact upon fair market value - whether <br />Resolution No. 43, Series 2018 <br />Page 1 of 2 <br />