2005 Annual Comprehensive Financial Report

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Services with 620 employees, providing magazine membership order fulfillment services for publishers and organizations; and Transfirst, a credit card processing company with 350 employees. Other notable businesses operating in Louisville are CableLabs, a cable television laboratory and a division of Medtronics, the world's leading provider of image -guided surgery and McKesson Corporation a leader in software, hardware, automation, services and consulting to hospitals, physician offices and home health. The median household income in Louisville is expected to grow to $85,379 by 2008 or 13% over the 2003 median income estimate. The average household income in Louisville is significantly higher than the median income suggesting a wide range of household incomes is present in the community. The 2006 Louisville community profile complied by the Denver Regional Council of Governments (DRCOG) reported that there are 11,577 jobs in Louisville. Of these, 43% were in manufacturing and 29% were service jobs. There is a relative balance between the number of residents who are employed and the number of employees working in the City: 10,387 workers commute to Louisville for jobs while 8,598 residents leave to work elsewhere. MAJOR INITIATIVES IN 2005 Significant events and accomplishments during 2005 include the following: Began construction of a 32,500 square foot new library facility. The voters approved funding of $7.4 million with a general obligation bond that was approved by the voters at the November 2003 election. The library is expected to be completed in July of 2006; Began construction of a 17 acre community park at a cost of $2.3 million. The park was dedicated in April of 2006; Improved various highways, streets, drainage ways, sidewalks, alleys and trails and invested over $2.0 million towards the City's infrastructure; Adopted a new 2005 Comprehensive Plan for the City of Louisville; Began reconstruction of Dillion Road from 88th to 104th street at a cost of $1.0 million. This project is expected to continue into 2006; 1 Completed construction of the state Highway 42/96t'' Street Connection Project, with funds from the Northwest Parkway of $12.0 million; Initiated planning for renovations to City Hall and City Shop buildings at a combined cost of over $1.9 million. Construction is to begin in 2006. + s1 r The City continued working on a cable television franchise agreement with Comcast at a cost of o►� $60,700. The agreement was approved in 2006. Also during the year, the City Council continued the mission statement of the prior seven years, namely: deliver cooperatively and corporately the goods and services the citizens of Louisville need but which they cannot deliver individually; maintain the character, quality of life, and uniqueness of Louisville; address the needs of all, focus those needs, and achieve balance for overall population; assess those needs in the best manner possible within available resources of time and finances. PROJECTS PLANNED IN 2006 Planned City projects include: Complete the construction of the new Louisville Public Library at a total cost of over $9.0 million; Continuing with Highway 42 Revitalization effort; including a commuter rail station with RTD's FastTracks initiative. Complete the construction of the Community Park at a cost of over $2.3 million; Reconstructing Dillon Road from 88th to 104th street over a 2 year period at a cost of over $2.4 0