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<br />fP5J@[%&u <br />5) Commercial and retail developments shall be encouraged as a means to balance the tax <br />burden of the residents and citizens of the City, and improve the economic vitality of <br />the City. <br />6) Residential projects meeting specific principles and policies of the City's <br />Comprehensive Plan and as detennined by City Council, shall be given priority in the <br />annual allocation of residential pennits. <br />7) When City Council finds that there is a demonstrated fiscal benefit to the City, the City <br />Council may increase the allowable number of residential building pennits to be issued <br />in a given calendar year in exchange for a timed commitment to construct certain <br />commercial building floor area. <br />8) City Council may exempt certain projects from the residential building pennit <br />allocation quotas established in this resolution if they meet specific principles and <br />policies from the City's Comprehensive Plan or are within the boundaries of an Urban <br />Renewal District. <br />9) Residential lots that were created on residential subdivision plats approved by the City <br />prior to October 1, 2005 are exempt from the allocations established in this resolution. <br />B) Biennial allocation: As a goal and consistent with attendant conditions, the City should <br />strive to limit the number of residential building permits issued to 250 biennially, not to <br />exceed 150 in any given calendar year. This goal shall be reviewed by City Council bi- <br />annually, in conjunction with the review of the City's Comprehensive Plan, as amended. <br />C) Annual allocation of residential units: For the period October 1, 2005 through December <br />31, 2006, City Council hereby establishes as a goal that the City should issue building <br />permits for no more than 150 residential dwelling units. For this period, said allocation <br />has not been assigned to specific subdivisions or development applications. <br />Section 2. The City Manager is hereby authorized to establish rules and policies as may be <br />determined necessary to govern the administration of the Phasing Requirements on Residential <br />Development Applications. Said rules and policies would address the manner in which <br />property owners and I or developers would submit a request for all or a portion of the annual <br />residential building pennit allocation as established in Section 1. C (above). Said rules and <br />policies would also establish a general manner in which City Council would subsequently <br />review and allocate residential units to specific properties or projects. <br />Section 3. This resolution shall be in full force and effect upon its passage and approval. <br />"",PASSED AND ADOPTED this 20lh day of Sept <br />..:,::~'~ 01 '/S""::'- <br />"<!"G \.. U V'~ <br />~"'b( ....... J(. <br />~.-. -. (" ~ <br />i/l 1.... .. ",'f..\._ <br />t'.,:J.. . .. '\.\ <br />..' '"- ~ · \' BY' <br />(.-..,.;' ~ '0. .. <br />~;()~ c; ~~ ;}\ L : t~ Charles Sis ayor <br />" 0 v........ .. <br />~ .: ' City uf Louisville, Culurado <br />~ '}ilEST: ... <br />'. .0 <br />0."... ....Q <br />.~~~. . <br />3 <br />