Laserfiche WebLink
11: City,/ <br />im Louisville <br />COLORADO • SINCE 1878 <br />CITY COUNCIL COMMUNICATION <br />AGENDA ITEM 2 <br />SUBJECT: <br />PRELIMINARY DISCUSSION ON 2020 BUDGET FOR URBAN <br />REVITALIZATION DISTRICT AND REVIEW OF CALCULATION <br />FOR REVENUE PLEDGED TO DEBT SERVICE <br />DATE: OCTOBER 8, 2019 <br />PRESENTED BY: HEATHER BALSER, CITY MANAGER <br />KEVIN WATSON, FINANCE DIRECTOR <br />SUMMARY <br />The Louisville Revitalization Commission (LRC) must approve a budget each year for the <br />Urban Revitalization District (URD). In accordance with the Cooperation Agreement <br />between the City of Louisville and the LRC, the annual budget proposed by the LRC must <br />be submitted to the Louisville City Council for review and approval prior to final adoption <br />by the LRC. The LRC is scheduled to make a final review of the proposed budget at their <br />meeting on October 14, 2019. The City Council is scheduled to review the proposed <br />budget at the regular meeting scheduled for Tuesday, October 15, 2019. The LRC is <br />scheduled to adopt a final budget by resolution on November 18, 2019. <br />The following table summarizes the current status of the 2020 proposed budget for the <br />URD. It also contains information on 2017 and 2018 actuals, as well as the current 2019 <br />budget and 2019 estimates. Please note that this budget is still preliminary. It has not <br />been approved by the LRC to be brought forward for formal approval by the City Council. <br />CITY COUNCIL COMMUNICATION <br />2 <br />