City Council Minutes 2005 01 25 SP

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Louisville City Council Special Meeting January 25,2005 Page 8 of 10 explained that Louisville has a substantial number of high-end housing. The gap appears to be starter homes, affordable or obtainable housing. He explained the framework plan provides for a broad diversity of housing. Commissioner Loo asked if affordable housing attracts retail. Cunningham explained it is a combination of housing within a trade area and how much of disposable income is spent on retail. Mayor suggested the empty-nesters would stay in Louisville and spend their disposable income within Louisville. He stressed the City is trying to achieve a blend of housing. He addressed the open space tax for acquisitions and stated funds are also available through the Northwest Parkway Fund for open space purchases. He voiced his opinion that Option #3, "Do Nothing" Scenario should be changed. Cunningham stated Option #3 has been changed to "Current Scenario." Commissioner Lipton requested capital expenditures be listed in the analysis. He asked if the framework plan included capital investments required for water and wastewater or if that was considered an enterprise funds. Cunningham explained the analysis only looked at the general fund. Commissioner Lipton commented the analysis makes a lot of assumptions on how much everything will cost, including transportation and building public facilities. He felt that may make an overstatement of the capital costs. Cunningham stated the analysis did not include the impact of inflation in any of the three options. PUBLIC COMMENT Chad Kipfner, 4925 Penn Street, Boulder, CO inquired if the analysis considered a projection of internet sales and a decrease in retail models. Cunningham stated retail demand was approached through a number of categories; however, only true retail was used in the analysis. Not included were catalog, internet and automobile sales. Tom Davidson, 611 W. Chestnut Court, Louisville, CO commented the analysis did not include the significant incentive to attract retail. He stated the US 36 Corridor is overbuilt for retail, requiring a substantial growth in residential to fill existing retail. He stated that should be addressed in the financial analysis. Susan Morris, 939 W. Maple Court, Louisville, CO stated she would like to see a land use Option #4, which showed STK will not be build-out as industrial. She also reported errors in the Fiscal Analysis Summary in the non-residential units in all three options. Cunningham reviewed the correct data of added square footage in each option, and noted the total new acres of parks and open space is 160 acres: · Option #1 - Retail 800,000 SF, Industrial 1,200,000 SF, Office 1,000,000 SF 8