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Page 2 <br />On November 5, 1985, Louisville residents will vote on a <br />ballot initiative which will raise the current 2 cent sales tax <br />to 3 cents if approved. As a consequence, Council may wish to <br />lower the proposed mill levy of 9.736 mills to 8.572 mills (the <br />mill levy consistent with the State's 7% property tax limitation) <br />if the sales tax initiative passes. <br />The items of major importance provided for in the proposed <br />1986 Budget include: <br />1. A contingency fund of $158,352 (7% of the General Fund <br />Budget) which will be expended only upon specific <br />approval by Council. <br />2. Salary increases totalling 5% to .be allocated utilizing <br />a minimum base increase of 3% and performance bonuses <br />totalling 2%. <br />3. A reduction in staffing levels from the 94 FTE's <br />approved in the original 1985 Budget to the proposed <br />1986 level of 80 FTE's in order to come more in line <br />with other metro area communities and to withstand the <br />cyclical nature of the housing industry. <br />4. A continued reduction in the City's reliance on growth <br />revenues reflected in the fact that only 19.6% of the <br />total budget comes from growth fees. This compares <br />with 24% in 1985, 29% in 1984 and 38% in 1983. <br />5. A vigorous yet realistic Capital Improvements Program <br />based on more reliable and equitable sources of <br />revenue. The key projects to be undertaken in 1986 <br />include: <br />A. Completion of Via Appia from Lafayette Street <br />to McCaslin Boulevard <br />B. Completion of South Boulder Road from Via <br />Appia to McCaslin Boulevard <br />C. Completion of City Shops <br />D. Phase I of Lake Park Project <br />E. Repairing the Existing City Pool <br />F. Resurfacing Tennis Courts at Pirates & <br />Centennial Parks <br />G. Continuation of Street/Sidewalk <br />Repair/Maintenance Program <br />H. Commencement of Storm Drainage Program for <br />City <br />I. Tree and Street Median Improvements <br />