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City Council <br /> Meeting Minutes <br /> July 17, 2012 <br /> Page 5 of 12 <br /> Michael Kranzdorf, Amterre Propety Group LLC, stated this will be approximately a $3 <br /> million project with a building worth $600,000 - $700,000 when completed. The <br /> developers are willing to shoulder some risk but are not willing to lose money on it. <br /> Erik Hartronft, 817 Lincoln Avenue, Louisville, CO the architect working with Amterre, <br /> stated there are a lot more questions than answers. The risk is for both historic <br /> preservation and economic development. This could be a regional destination if done <br /> correctly and as developers, they have to look at rate of return. Other things would <br /> retum more profit but this project would be for the community. He didn't think the land <br /> could be purchased for less and would like to see the elevator saved even without his <br /> involvement. He wished the Council good luck with the decision. <br /> Jean Morgan, 1131 Spruce Street, Louisville, CO wished the purchase price was more <br /> in line with other Louisville appraisals. She felt with all entities working together the <br /> preservation could be achieved. She read a letter from Anne Dyni, a local author <br /> residing in Lafayette. The letter urged the Council to save the elevator to retain <br /> agricultural history for future generations. <br /> Bill Virene, 945 W. Alder Street, Louisville, CO felt Louisville could not afford this project <br /> and the maintenance costs associated with it. He appreciated the historicity but felt a <br /> private entity should foot the bill and have the continued cost. <br /> Ashley Stolzmann, 370 S. Taft Ct., Louisville, CO felt the concern over money was valid <br /> but thought the social benefit was clear and a role of govemment. Time is the problem <br /> and the City must purchase to have the time to evaluate the project. She felt other <br /> funds beside the HPF could be sought for the property and thought the risk could be <br /> mitigated with a sale in the future if needed. <br /> Mary Kay Knorr, 1209 LaFarge, Louisville, CO wanted to stretch the time to perhaps <br /> find other investors. She asked for a show of hands of people wanting to preserve the <br /> elevator. Many hands went up. <br /> Mayor Muckle called for further public comment and hearing none, called for Council <br /> comment. <br /> COUNCIL COMMENT <br /> Council member Jasiak stated there had been an incredible amount of work and <br /> consideration of preservation on this property and was grateful for that. She asked if a <br /> health and environmental assessment had been done on the property. <br /> Planning Director Russ stated the assessment was structural along with a Phase 1 <br /> records research for any documented environmental damage. Erik Hartronft reported <br />