2004 Annual Comprehensive Financial Report

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• • MAJOR INITIATIVES IN 2004 Significant events and accomplishments during 2004 include the following: ➢ In November 2004, voters approved to amend the Home Rule Charter related to a citizen's initiative regarding open government; ➢ Purchased water rights in the amount of $2.3 million; ➢ Completed the construction of a new 17,500 square foot combined police station and municipal court building, at a cost of $4.0 million; ➢ Initiated the planning and design of a new 17 acre Community Park to be located at the south end of Main and Front Streets at a cost of $2.4 million; ➢ Improved various highways, streets, drainage ways, sidewalks, alleys and trails and invested over $1.0 million towards the City's infrastructure; ➢ Completed construction of the new Skate Park next to the In -Line Hockey Rink at a cost of approximately $630,000; ➢ Continued the process of updating the City-wide Comprehensive Plan (last done in 1989) with maximum citizen participation; ➢ Invested and prepared a Business Retention and Development Plan for the City of Louisville ➢ Completed a Citizen Opinion Survey; ➢ Designed and began construction of new library, as approved by the voters in November, 2003 with a general obligation bond in the amount of $7,405,000; ➢ Completed the design and engineering for the Bella Vista Street connection; ➢ Reconstructed the Bell Tower for the Louisville Arts Center at a cost of $33,000; ➢ Continue work on the design and began construction of the McCaslin Interchange improvements with the Town of Superior; ➢ Completed construction of the re -use water line from the wastewater treatment plant to the Coal Creek Golf Course at a cost of $2.36 million; ➢ Continued construction of the state Highway 42/96th Street Connection Project, with fund from the Northwest Parkway of $12.0 million; ➢ Initiated the planning and design of a new 17 acre community park for Louisville at a cost of over $2.2 million. 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 can't 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 2005 Planned City projects include: ➢ Initiating a remodel of City Hall; ➢ Continuing with Highway 42 Revitalization effort; ➢ Adopting a new Comprehensive Plan; ➢ Constructing a new Louisville Public Library at a cost of over $9.0 million; ➢ Constructing and completing the Community Park at a cost of over $2.2 million; ➢ Reconstructing Dillon Road from 88th to 104th street over a 2 year period at a cost of over $1.6 • 2 •