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SI|槫Hj Є '[3[y0hx_1T@pեtD Xp%fJ~AƸ%0fUJm)`{&N\I(xz4LugzYbr :δҒ4\ȔUtVgd"%4Ba:d$0I]cW!=ISзu!eV1 kA$ݷ6RA*P-ഌ;\BvD%^?>Jv0'qVbYDd(W'' *!S3:Ih9+Kl0:Wf|&O'S-d}̵2'Bl*3Hk2C(:ZSȥZ'J\:;a͈,ԋUvӢ$'TE  Oi\I& J*#qjzt'q "=ˇx-d풎B$ l- 9: h4:  lCHNKINK  TEXTTEXTX0STSHSTSHX2STSHSTSH 3STSHSTSHJFDPPFDPPNFDPPFDPPPFDPCFDPCRFDPCFDPCTFDPCFDPCVFDPCFDPCXFDPCFDPCZFDPCFDPC\FDPCFDPC^FDPCFDPC`FDPCFDPCbFDPC FDPCdFDPC FDPCfFDPC FDPChFDPC FDPCjHome Home PreserveLouisville.org A Citizens Group dedicated to preserving Louisville's small-town character What s new on PreserveLouisville.org? Why the LRC s consultant, Leland Consulting, has no credibility What citizens are saying about  urban renewal and TIF financing in Louisville The problem of LRC and ethics  Urban Renewal in Louisville Background A primer on Urban Renewal What are the bare essentials I should know about urban renewal in Louisville? History of the Louisville Revitalization Commission and urban renewal activities Issues of Democracy Why Louisville citizens can t make the Louisville Revitalization Commission listen to us If we need urban renewal, shouldn t our elected council members represent us? The myths behind giving to an unelected body the power to control $77 million in tax dollars Does TIF financing work?  A study by the Economics Department of Iowa State University Issues of Taxpayer Money The potential for abusing blight designations to increase the size of an urban renewal area Some reasons for widening an urban renewal area (e.g., the draw of tens of millions of dollars in  TIF financing ) Is the Louisville Revitalization Commission improperly trying to widen the urban renewal area? What the consultants won t tell you about TIF financing Do we need to finance Hwy 42 urban renewal with scarce tax dollars? What fiscal impact will the LRC-expanded urban renewal area have on the City? Issues of Timing If we abolish the LRC, where s the harm? Urban Renewal News Making ourselves heard what each of us can do Email the City Council Write a letter to the City Council: 749 Main Street, Louisville, CO 80027 Email a letter to the Daily Camera editor Go to the next City Council Meeting, November 8, at 7 p.m. in City Hall Louisville Rejects Big Housing Growth in the November 2005 Election About PreserveLouisville.org About us Contact us Promoting and preserving open government We re not perfect Urban Renewal We cannot turn over financial accountability over $77 million to unelected officials On November 8, the City Council will decide formally whether to give to unelected officials the appointed members of the Louisville Revitalization Commission extraordinary powers, including the power to control and dispose of more than $77million in tax revenue over a 25-year period. The LRC, which serves as Louisville s urban renewal authority, is a governmental body created by the City Council but governed by state law. Its members are appointed. But it is autonomous. It is not accountable to anyone or any governmental body. It is not accountable or subject to oversight even to the governmental body that created it, the Louisville City Council. It is not bound by the City s ethics codes. Did we mention the $77 million? That s how much tax revenue the LRC s consultants say the urban renewal area proposed by the LRC would generate over a 25-year period. This is the money the LRC would have absolute control over. State law gives the LRC complete powers to spend, invest, incentivize developers, or otherwise dispose of the money. Never in the history of Louisville has our community or our City Council permitted an unelected body to control so much taxpayer money. There are compelling reasons we must insist that our elected officials remain directly accountable to us on all matters important to us, including the future of this community and the fiscal health of this city. TIF financing deserves serious scrutiny, not unblinking acceptance Tax increment financing, or TIF financing, diverts tax revenue that is generated in an urban renewal area and that ordinarily would be destined to a municipality, and deposits the revenue in the hands of the urban renewal authority, here, the Louisville Revitalization Commission. (But for TIF financing s diversion, the revenue would go to pay for county, school-district and city services.) The Commission will use the money, among other things, to give developers an  incentive to build in the urban renewal area. As we point out, there may be times when TIF financing really is necessary. We question whether it is in Louisville. The Commission has extended the urban renewal area boundaries well beyond what is needed to prevent and remedy blight. It takes little imagination to conclude it did so to generate more tax revenue for the Commission to spend  incentivizing developers. In fact, Councilmember Don Brown at the October 3, 2006, council meeting candidly acknowledged the purpose of expanding the urban renewal area was to  increase the potential for increment and to  expand potential funds. (Meeting video available by DVD at City Hall.) The problems? It s improper to extend an urban renewal area solely to generate more tax revenue. Increasing the urban renewal area s revenue correspondingly takes away tax revenue that would have gone to pay for services that benefit the entire community. The need for  incentivizing developers appears to be diminishing each day a commuter rail station in Louisville is closer to reality. Diverting sales tax dollars to incentivize developers may well be a terribly bad idea when the city is facing sales tax revenue shortfalls now and in the foreseeable future. Worse, based on the fiscal-analysis model used by Markel Homes to measure the fiscal impact of the North End development, there is reason to believe that the urban renewal area even at completion will be a net drain on the City s operating budget. (An analysis will be forthcoming on these pages.) If it will be a drain, does it make sense for us to commit scarce sales tax dollars into incentivizing developers? As an Iowa State University study concluded, residents and businesses outside an urban renewal area subsidize the city services provided to the renewal area, and there is a serious question that the community as a whole benefits. The need for action The City Council will make the critical decisions about urban renewal on November 8. We need to make sure our voices and our concerns about urban renewal are heard. Please go to the meeting: it s at 7 p.m. in City Hall, 749 Main Street. 61HNTZ`flrx~n$61FX L X  LX (R^(2 "$           ,9"D "H "00 "$           ,9"D "00 "$           ,9"D ""!0!0 "hC$           ,9"hCD "00 "$           ,9"D "00 "$           ,9"D "00 "$           ,9"D "00 "$           ,9"D "04 "|$           ,9"|D "t "0 "$           ,9"D "00 "$           ,9"D "0 "$           ,9"D "00 "$           ,9"D "0 "$           ,9"D " ""0& "$           ,9"D " 4 "$           ,7 9"D "t ""00 "$           ,9"D "04"S0 "$           ,9"D ""B"" "8 "0W"""X"$ 71 0@P`p 0@P`p|||||||||||||||||| | | | | | | | | | ||||||||| about urban renewal are heard. Please go to the meeting: it H &(HJVX46> @ r t , .   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