City Council Minutes 2000 10 03 - Laserfiche WebLink

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Louisville City Council Meeting October 3, 2000 Page 7. MOTION: Mayer moved that Council approve Resolution No. 57, Series 2000, as amended, with the condition that Staff and Applicant address the implementation of evergreens to the landscaping plan, seconded by Levihn. Roll call vote was taken. Motion passed by a vote of 5-0. PURSUANT TO SECTION 2.92.010 OF THE LOUISVILLE MUNICIPAL CODE, NOTICE IS HEREBY GIVEN THAT AT ITS OCTOBER 17, 2000, REGULAR MEETING, THE LOUISVILLE CITY COUNCIL WILL MAKE A FINAL DETERMINATION AS TO THE PURCHASE OF FEE TITLE TO A CERTAIN PARCEL OF LAND OF APPROXIMATELY 5,840 SQUARE FEET LOCATED AT 824 FRONT STREET, LOUISVILLE, COLORADO, FOR POTENTIAL USE FOR PARKING FACILITIES AND OTHER GOVERNMENTAL PURPOSES City Administrator Bill Simmons reported that the City of Louisville and Steinbaugh Ace Hardware Co. have entered into a land purchase contract. The City will acquire a parcel of land approximately 5,840 square feet, located at 824 Front Street, Louisville, Colorado. The potential use is for parking facilities and other governmental purposes. Simmons stated that the parcel would provide approximately 19 parking spaces. With respect to the parking master plan, Simmons noted that the land cost is approximately $7,641 per space. The purchase contract provides the City shall pay the owner of the property a total purchase price of $145,000 for the property. Moneys from the Capital Projects Fund shall be used to pay the purchase price of the property. Staff anticipates presenting a final purchase agreement along with a resolution for consideration at the October 17, 2000 regular City Council meeting. Closing on the property is scheduled for December 8, 2000. Mayer asked Simmons about the mechanism to collect fees to defray the cost of the land acquisition. Simmons stated that the 2001 budget will contain the Parking Improvement Fee Fund, and will enable the City to track fees. He noted that the funds are to be appropriated from the Capital Project Funds. Mayer asked if the Capital Project Fund would be repaid by the Parking Fee Fund as fees are collected. Simmons stated that would be addressed at budget time. Sisk complimented Glen Steinbaugh, the Steinbaugh family and City Administrator Bill Simmons for a very fair transaction. He stated that this will be a real benefit to downtown Louisville, and he thanked the Steinbaugh family for working with the City of Louisville.