City Council Study Session Agenda and Packet 2008 02 26

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5) Commercial and retail developments shall be encouraged as a means to balance the tax burden of the residents and citizens of the City, anti improve the economic vitality of the City. 6) Residential projects meeting specific principles and policies of the City's Comprehensive Plan and as determined by City Council, shall be given priority in the annual allocation of residential permits. 7) When City Council finds that there is a demonstrated fiscal benefit to the City, the City Council may increase the allowable number of residential building permits to be issued in a given calendar year in exchange for a timed commitment to construct certain commercial building floor area. 8) City Council may exempt certain projects from the residential building permit allocation quotas established in this resolution if they meet specific principles and policies from the City's Comprehensive Plan or are; within the boundaries of an Urban Renewal District. 9) Residential lots that were created on residential subdivision plats approved by the City prior to October 1, 2005 are exempt from the allocations established in this resolution. B) Biennial allocation: As a goal and consistent with attendant conditions, the City should strive to limit the number of residential building permits issued to 250 biennially, not to exceed 150 in any given calendar year. This goal shall be reviewed by City Council bi- annually, in conjunction with the review of the City's Comprehensive Plan, as amended. C) Annual allocation of residential units: For the period Clctober 1, 2005 through December 31, 2006, City Council hereby establishes as a goal that the City should issue building permits for no more than 150 residential dwelling unit:>. For this period, said allocation has not been assigned to specific subdivisions or development applications. Section 2. The City Manager is hereby authorized to establish rules and policies as may be determined necessary to govern the administration of the Phasing Requirements on Residential Development Applications. Said rules and policies would address the manner in which property owners and / or developers would submit a request for all or a portion of the annual residential building permit allocation as established in Secl:ion 1.C (above). Said rules and policies would also establish a general manner in which City Council would subsequently review and allocate residential units to specific properties or projects. Section 3. This resolution shall be in full force and effect upon its passage and approval. PASSED AND ADOPTED this 20`'' day of September 2005. BY: Charles Sisk, Mayor City of Louisville, Colorado ATTEST: 3