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RESOLUTION NO. 58 <br />SERIES 2023 <br />A RESOLUTION OF THE LOUISVILLE CITY COUNCIL IN SUPPORT OF BOULDER <br />COUNTY BALLOT ISSUE 1 B AT THE NOVEMBER 7, 2023 ELECTION <br />CONCERNING AFFORDABLE HOUSING SALES AND USE TAX <br />WHEREAS, the Louisville City Council supports Boulder County Issue 1 B: <br />Affordable Housing Sales and Use Tax, a proposal to extend for fifteen years the <br />existing 0.185% countywide sales and use tax for the purposes of funding existing and <br />additional affordable and attainable housing and related supportive services within <br />Boulder County; and <br />WHEREAS, the Affordable Housing Sales and Use Tax Extension does not <br />represent a new tax or a tax increase, but rather the extension and repurposing of an <br />existing tax; and <br />WHEREAS, Boulder County is experiencing a housing imbalance pressured by <br />restrained supply and built up demand resulting in home prices and rents that are <br />unaffordable to many residents; and, <br />WHEREAS, the City of Louisville recognizes that changing demographics and <br />economic influences have impacted the availability of the full range of housing options <br />within our community; and, <br />WHEREAS, the City of Louisville supports efforts at both the state and local level <br />to increase available housing and home ownership opportunities in Colorado, and is <br />committed to maintaining and increasing safe, secure, and affordable housing for <br />residents; and <br />WHEREAS, the housing affordability challenge is regional and is shared by many <br />jurisdictions within the County; and <br />WHEREAS, the City of Louisville supports a collaborative, countywide effort to <br />produce additional affordable housing where affected populations live and work; and, <br />WHEREAS, the Boulder County Regional Housing Partnership estimates $25 <br />million per year in additional funding from local sources is needed to meet the goal of <br />12% of all Boulder County homes being permanently affordable by 2035; and <br />WHEREAS, providing opportunities for affordable and attainable housing is a <br />matter of racial equity as recent data shows that Hispanic/Latinx families make up a <br />disproportionate share of families experiencing homelessness for the first time, and <br />Black, Indigenous, and People of Color make up a disproportionate share of Boulder <br />County Housing Authority's residents relative to their overall population in the county; <br />and <br />Resolution No. 58, Series 2023 <br />Page 1 of 2 <br />