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RESOLUTION NO. 4 <br /> SERIES 2014 <br /> A RESOLUTION ESTABLISHING A REVOLVING LOAN PROGRAM <br /> WITHIN THE HISTORIC PRESERVATION FUND TO ENCOURAGE <br /> LANDMARK DESIGNATIONS AND REHABILITATION OF HISTORIC <br /> PROPERTIES IN THE CITY OF LOUISVILLE <br /> WHEREAS, historic properties in the City of Louisville (the "City") <br /> are a major contributor to the character and quality of life of the City; and <br /> WHEREAS, the City Council, pursuant to the City Charter, <br /> established a Historic Preservation Commission to assist it in the <br /> preservation and landmarking of these properties; and <br /> WHEREAS, when properties are locally landmarked they are <br /> preserved for future posterity and enjoyment and continue to contribute to <br /> the unique character of the City; and <br /> WHEREAS, at the November 4, 2008 election, the voters approved <br /> Ballot Issue 2A to levy a one-eighth of one percent (1/8%) sales tax for <br /> historic preservation purposes within Historic Old Town Louisville, <br /> including a provision for low-interest loans to preserve and rehabilitate <br /> eligible properties; and <br /> WHEREAS, City Council by Ordinance No. 1544, Series 2008, <br /> imposed the tax approved by the voters, established the Historic <br /> Preservation Fund, and codified the financial incentives set forth within <br /> Ballot Issue 2A that may be funded by revenues from the tax, including <br /> low-interest loans to preserve and rehabilitate eligible properties; and <br /> WHEREAS, the City Council by Resolutions No. 20, Series 2009, <br /> No. 20, Series 2010, and No. 2, 2012, created provisions related to the <br /> administration and uses of the Historic Preservation Fund; and <br /> WHEREAS, revolving loan funds have been used effectively <br /> nationwide for the preservation of historic structures and neighborhoods; <br /> and <br /> WHEREAS, the establishment of a revolving loan to encourage the <br /> landmarking and rehabilitation of historic structures serves the public <br /> purpose of increasing the quality, integrity and permanence of the City's <br /> stock of historic landmarks for the enjoyment and benefit of present and <br /> future generations of citizens of the City by making available to the owners <br /> of properties which are landmarked or subject to a conservation easement <br /> Resolution No. 4, Series 2014 <br /> Page 1 of 5 <br />