2009 Annual Comprehensive Financial Report

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In 2008 ConocoPhillips purchased the 420 acre Storage Tek /Sun Microsystems campus in Louisville. ConocoPhillips has deconstructed the 1.6 million square feet of existing buildings on the site and in 2011 intends to start constructing a corporate learning and global technology center on the site. In 2009 ConocoPhillips hired HOK as the architecture and design team to help lead the redevelopment effort. Company news releases indicate the learning center will be a, "best -in -class training facility...for all [ConocoPhillips] employees worldwide." The technology center is expected to support many new and alternative energy research and development opportunities; work closely with nearby universities, including Colorado University, Colorado State University, the Colorado School of Mines, and Denver University; and take advantage of ongoing collaboration with the National Renewable Energy Laboratory (NREL). The ConocoPhillips development will have a significant positive impact to building revenues, property taxes, and sales /use taxes. Downtown Louisville is also designated as the site for a Regional Transportation District (RTD) FasTracks commuter rail station on the Northwest Rail line. The NW Rail will eventually extend from downtown Denver through Louisville to Boulder and Longmont. MAJOR INITIATIVES IN 2009 The City of Louisville Home Rule Charter suggests that the City's mission is to provide basic municipal services in an efficient and cost - effective manner and maintain the qualities that make Louisville unique by protecting and enhancing the City's natural, cultural, and recreational resources, and preserving the City's scenic, historic, and aesthetic features through open and ethical government in which every member of the community has an opportunity to participate. Consistent with this mission, City leaders and staff accomplished the following during 2009: • Adopted 2009 International Building Codes to address fire sprinkler requirements and green building materials and technologies. • Implemented the Historic Preservation Sales Tax by working with the Historic Preservation Commission to identify key action steps, implement a financial reporting and budget structure, and to formally appropriate funds. • Implemented a City- contracted, single - hauler, Refuse Collection, Recycling and Composting system. • Adopted an Integrated Weed Management Plan. • Gave Budget Summary presentations to eight City organizations during Spring 2009 and presented feedback to City Council. • Evaluated and implemented cost - cutting and revenue - enhancing actions in response to significant declines in tax revenue. • Began implementation of a Geographical Information System. 2