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<br />fP5J@[%&u <br />WHEREAS, the City recognizes that fiscal responsibility requires a balanced approach <br />to the phasing of development of different land uses, such that increases in the City's <br />operational and capital expenses are offset by concurrent increases in the City's revenues: and, <br />WHEREAS, this balance of revenues and expenditures related to development must <br />continually be monitored and maintained, even through changing economic cycles; and <br />WHEREAS, development, including redevelopment, should not have a negative <br />impact on the City's fiscal position. The impact of new development should be measured by its <br />effect on City revenue generation, service provision and capital investment; and, <br />WHEREAS, in order to maintain a high standard of conununity service, avoid <br />negative fiscal impacts and maintain fiscal sustainabilit)', the City Council finds that phasing of <br />certain aspects of development is prudent and reasonable; and <br />WHEREAS, the City Council finds that the establishment of a residential development <br />phasing policy should be approved. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br />Section L The following fiscal impact and phasing criteria shall be applied to new <br />development in order to ensure that development occurs in an orderly, fiscally responsible <br />manner. <br />A) General Criteria. <br />1) A fiscal impact analysis that addresses both operating and capital expenditures of the <br />City shall be required as part of any residential development application, including <br />annexations, rezonings, subdivision plats, planned unit developments and special <br />review uses. Said fiscal impact analysis shall evaluate the fiscal impact of adding <br />additional residential units upon all service sector departments and the ability of those <br />departments to maintain levels of service to the existing residents of the City, and shall <br />otherwise analyze the cost-benefit relationship between the development and the City's <br />fiscal position. <br />2) Consistent with state statutes and local policies, the City will periodically review and <br />revise all development fees, as necessary, to ensure the City's adopted fees generate <br />revenues to fully cover the costs incurred in providing all necessary services to <br />residential development. <br />3) Annexations or rezonings that propose to add residential dwelling units should only be <br />approved if found consistent with the Citywide Comprehensive Plan and, except as <br />required by state statute, should be considered only if there is determined to be a <br />benefit to the City. <br />4) All residential development within the City of Louisville should be subject to phasing <br />as may be required to avoid negative fiscal impacts on the City. <br />2 <br />