ORDINANCE NO. __________, SERIES 2017
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AN ORDINANCE AMENDING CHAPTER 160 OF THE LOUISVILLE METRO CODE OF ORDINANCES TO EXPAND THE BOUNDARIES OF THE LOUISVILLE DOWNTOWN MANAGEMENT DISTRICT.
BODY
Sponsored By: COUNCILMEMBER BARBARA SEXTON SMITH
WHEREAS, KRS 91.750 - 91.762 (the "Act") authorizes the Council to establish within Louisville Metro one or more management districts for the purpose of providing and financing economic improvements that specifically benefit privately-owned property within such management districts;
WHEREAS, the Council has, pursuant to KRS ?? 83.520 and 67C.101(2)(d), broad home rule authority to approve and/or expand a management district.
WHEREAS, Chapter 160 of the Louisville Metro Code of Ordinances established the Louisville Downtown Management District (the "District") pursuant to the Act;
WHEREAS, on September 7, 2017, the Louisville Downtown Partnership presented to the Mayor a petition ("Petition") requesting that the boundaries of the District be expanded to include two contiguous areas located east and south of the current boundaries of the District as shown in Exhibit A hereto (the "Petition Requesting the Expansion of LDMD");
WHEREAS, the Petition was signed by 7 property owners within the District Expansion Area ("Owners"), which Owners constitute 33% of the number of owners of real property within the District Expansion Area and the value of the properties owned by the Owners equals 51% of the total assessed value of all benefited real property within the District Expansion Area;
WHEREAS, the Mayor has determined that the Petition satisfies the requirements of the Act and has therefore forwarded the Petition to the Council for the adoption of an ordinance expanding the boundaries of the District to include the District Expansion Area as requested by the Petition; and
WHEREAS, the Council, having considered the Petition and having conducted a public hearing on the expansion of...
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