Recreation Advisory Board Agenda and Packet 2019 06 24

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LCityqf Louisville Parks, Recreation & Open Space Memorandum To: Recreation Advisory Board (RAB) From: Date: Re: Nathan Mosley, Director of Parks, Recreation and Open Space June 24, 2019 Proposed Excess Tax Revenue/Taxpayer Bill of Rights (TABOR) Ballot Issue language Purpose: The purpose of this memo is to present RAB with an update on the general approach the city is taking regarding the excess tax generated by the recreation tax and the proposed language for a ballot initiative. Background: In November of 2016, City voters approved ballot issue 2B to increase sales and use taxes by 0.15% with the intent of using those for operation and maintenance of the Louisville Recreation and Senior Center and Memory Square pool facilities. As required by the Taxpayer Bill of Rights (TABOR), the City had to include estimates of how much revenue would be generated in 2018 by the 0.15% increase ($575,000) as well the estimated 2018 fiscal year spending without the increase ($33,470,000) as part of the 2016 ballot initiative process. The City exceeded both of these estimates in 2018. Next Steps Because the City has exceeded both estimates it will require voter approval to retain excess revenues generated by the tax and/or retain the full 0.15% rate. At the June 11th meeting City Council discussed two ballot options: • Option 1 - Would allow for the City to retain excess revenue and retain the full tax rate. (No Refund; Retain Rate) • Option 2 - Would require the city to refund excess revenue, but would allow the City to retain the full tax rate moving forward. (Refund Excess; Retain Rate) City Council provided direction to staff to bring an ordinance on July 9th that would seek voter approval for option 1; to retain excess revenues and retain the full tax rate moving forward. 749 MAIN STREET • LOUISVILLE, CO 80027 • PH: (303) 335-4735 • FAX (303) 335-4738 www.louisvilleco.gov PARKS RECREATION SENIOR SERVICES OPEN SPACE FORESTRY TRAILS GOLF