City Council Study Session Summary 2006 08 24

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City Council/Board of Trustees Joint Meeting Summary August 24, 2006 Page 2 of 2 Town of Superior Finance Director Nilles reviewed the financing of the McCaslin Overpass Project. The total project cost totals $8.5 Million dollars. Superior is responsible for the first $5 Million dollars and the balance will be split between the City of Louisville and the Town of Superior. Phase 2 of the McCaslin Overpass project was projected by SEMA Contractors to cost $6.8 Million dollars. Additional RTD requests for improvements brought the cost of the project up to $8.5 Million Dollars. City of Louisville Assistant City Manager Balser reviewed the Phase 3 proposal. Construction will be contingent upon EIS funding and which alternative is chosen. The project is proposed for construction in 2009 and projected to be a $10-12 Million Dollar project. Louisville Library Cost Sharing Finance Director Leslie reviewed the 2007 Budget process for the City of Louisville and noted the City's concern over the operational expenses for the new library. The proposed Louisville Public Library budget is projected to be $1.3 Million Dollars. This reflects the true operations of the library. There is a separate budget for maintenance of the library. Salaries represents 62% of the budget, the balance is for supplies and contractual services (12%). The Town of Superior residents represent 21 % of the library patrons. Town of Superior Mayor Muckle reported Superior would have a ballot question in the 2006 election asking residents to increase property taxes to provide library services. Mayor Sisk stated the library cost would be analyzed after November 2006 to project the cost of library expenses. Discussion included funding options, intergovernmental cooperation and agreements. Urban renewal Issues Discussion included the Town of Superior's urban renewal of the Biella/Menkick property and Superior Market Place project, and Louisville's proposed Highway 42 urban renewal plan, which is proposed to accommodate Fastracks and to renovate the existing area. City Council members and Board of Trustees discussed Intergovernmental Agreements with Boulder County. Other items: City Council Members and Board of Trustees also discussed transportation issues, roadways and other mutual concerns. Adjournment: The meeting was adjourned at 7:50 p.m. Submitted by Nancy Yarra, August 25, 2006