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<br />2003 <br />OPERATING PLAN AND BUDGET FOR THE <br />MAIN STREET LOUISVillE BUSINESS IMPROVEMENT DISTRICT <br /> <br />INTRODUCTION <br /> <br />The Mair. Street Louisville Business Improvement District (BID") was orgar:,zed <br />by City of Louisville Ordinance Number 1342, Series 2000 on August 15, 2000 <br />("Organizational Ordinance"). <br /> <br />By state statute, specifically Section 31-25-1211, C.R.S., by September 30 of <br />each year, the BID is required to submit an operating plan and budget to the City for <br />review and approval. <br /> <br />The District has not undertaken substantive activity in the last year and is in the <br />process of considering its future plans and options. The District would like to remain in <br />a holding pattern until its plans become more clear. <br /> <br />OPERATING PLAN CONTENTS <br /> <br />Pursuant to the provisions of the Business Improvement District Act, Section 31- <br />25-1201, et seq., Colorado Revised Statutes, as amended, the Operating Plan is to <br />specifically identify: <br /> <br />(1) the composition of the Board of Directors, <br /> <br />(2) the services and improvements to be provided by the District, <br /> <br />(3) the taxes, fees, and assessments to be imposed by the District, <br /> <br />(4) the estimated principal amount of the bonds to be issued by the District, and <br /> <br />(5) such other information as the City may require. <br /> <br />Each of these five items is described below. <br /> <br />COMPOSITION OF THE BOARD OF DIRECTORS <br /> <br />Under the Organizational Ordinance, the Board of Directors of the District was <br />appointed by the City Council. All Board members must, by law, be electors of the <br />District. The current members of the Board of Directors are: <br /> <br />Ronda Grassi, President <br />