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ILE City of Louisville <br />Administration <br />Mayor and City Council <br />City of Louisville <br />749 Main Street <br />Louisville, CO 80027 <br />Dear Mayor Davidson and City Council: <br />I am pleased to present to you the 1999 Annual Budget. Our continuing commitment to the <br />delivery of basic services to the residents of Louisville while maintaining the City's fiscally sound <br />policies is reflected in this budget. <br />Overview <br />In the initial stages of the budget process <br />condition of the City of Louisville in 1999. <br />an evaluation was prepared of the projected financial <br />The assessed valuation is at $249,639,210 for 1998. <br />This has increased by 6.3%, over the 1997 valuation. Over a five-year period the assessed valuation <br />has increased 39.6%. <br />Assessed <br />Valuation (in <br />1,000) <br />S250.000 <br />S200.000 <br />S150.000 <br />1994 <br />1995 <br />1996 <br />1997 <br />1998 <br />Commercial development is expected to continue at about 90% of the pace of 1998. The total <br />valuation of development in 1999 is projected at 842,085,340, with about 10% in retail. There are <br />31 single family units projected to be developed, at an average valuation.of 8197,903 (not including <br />the cost of land) per unit. <br />The sales tax revenues have increased as a result of the commercial development. The total 1999 <br />sales tax budget is 87,950,000. This is a 16.7% increase over the 1998 budget, which includes a <br />749 Main Street • Louisville, Colorado 80027 • (303) 666-6565 • Fax (303) 673-9043 <br />