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SUBJECT: APPROVAL OF 2022 BUDGET FOR URBAN REVITALIZATION DISTRICT <br />DATE: NOVEMBER 10, 2021 PAGE 3 OF 3 <br />Based on Commissioner feedback in September as well as LRC Work Plan priorities, <br />staff has included the following anticipated project expenditures in the 2022 Proposed <br />Budget: <br />• Fagade Improvement Program: $250,000 <br />• District Wayfinding Signage Program: $200,000 <br />• Urban Renewal Area Marketing Strategy: $75,000 <br />• On -Street Bike Networks & Bike Parking Amenities: $55,000 <br />At this time, there are no City of Louisville capital projects for which the LRC has <br />committed funds in budget year 2022. As directed by the LRC, no expenditure <br />placeholders have been made in the 2022 Budget for potential applications for public <br />infrastructure or direct financial assistance. Both of the existing public infrastructure <br />assistance cooperation agreements for the LRC terminate in 2021. <br />Ending Fund Balance <br />Considering the items above, the proposed budget calculates a 2022 ending fund balance <br />of $2,889,200. <br />RECOMMENDATION: <br />Staff recommends approval of the 2022 budget by adopting Resolution 21-10. <br />ATTACHMENTS: <br />• Attachment #1: Resolution 21-10: Adopting the Louisville Revitalization <br />Commission's Budget for the Fiscal Year 2022 <br />Agenda Packet P. 11 <br />