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1 <br />COUNCIL COMMUNICATION <br />TO: MAYOR AND CITY COUNCIL <br />FROM: WILLIAM A. SIMMONS <br />CITY ADMINISTRATOR <br />DATE: July 15, 1997 <br />SUBJECT: Resolution No. 34, Series 1997, Approving an intergovernmental agreement between the <br />City of Louisville and the Town of Superior. <br />ORIGINATING DEPARTMENT: ADMINISTRATION <br />SUMMARY: <br />Please find enclosed a Resolution approving. the Louisville /Superior IGA, together with a copy of the IGA. <br />The highlights of the intergovernmental agreement are as follows: <br />Louisville agrees to disconnect from Louisville the property consisting of approximately eighty (80) <br />acres located east of McCaslin Boulevard and south of U.S. 36 (the "South Property <br />Superior agrees to disconnect from Superior the property on the north side of U.S. 36 of <br />approximately five acres (the "North Property <br />If the South Property is annexed to Superior, Superior shall not allow any residential use, except up <br />to eight acres may be developed for residential retirement/senior housing in one or more buildings <br />not exceeding the height limitation applicable to commercial buildings on the South Property. <br />Superior shall not permit development of other than retail uses on thirty-four acres of the South <br />Property. <br />Superior shall share with Louisville fifty percent of revenues received by Superior from application of <br />a 2.7 percent sales tax rate to retail sales made by businesses located within the South Property: <br />After disconnection of the North Property from Superior, Louisville may, but is not required to, <br />annex the North Property, except Louisville may not proceed to annex the North Property until after <br />the parties determine the North Property is not necessary for U.S. 36 right -of -way or other related <br />improvements. <br />If the North Property is annexed to Louisville, Louisville may not permit any residential use on the <br />North Property. <br />If Louisville zones the North Property for sales tax generating uses, then Louisville shall share with <br />Superior fifty percent of the revenues received by Louisville from application ofa 2.7% sales tax rate <br />IS s <br />SUBJECT AGENDA ITEM <br />Resolution No. 34, Series 1997 <br />Intergovernmental Agreement Between the City of Louisville and <br />the Town of Superior <br />N <br />