City Council Minutes 2012 09 04 - Laserfiche WebLink

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City Council Meeting Minutes September 4, 2012 Page 4 of 17 It specifies moneys from the Historic Preservation Fund and the General Fund be used to pay $950,000 to acquire the Grain Elevator property subject to and conditioned upon satisfaction of all conditions in the Purchase Contract for the property. It also authorizes a loan of $1,500,000 in 2012 from the General Fund to the Historic Preservation Fund to fund the purchase, stabilization, rehabilitation and redevelopment of the Historic Grain Elevator site. The City's costs associated with this action could be partially offset by subdividing the property and leasing or selling the former NAPA building. He noted at the last City Council meeting there was discussion relative to amending the ordinance to only authorize the acquisition of the property. Staff recommended approval of the second reading of Ordinance 1622, Series 2012, without changes to provide staff with the greatest flexibility to complete the redevelopment of the Historic Grain Elevator. COUNCIL COMMENTS Council member Keany asked if the ordinance was amended for just the purchase of the property, would there be sufficient funds in the HP account or would it require an interfund loan. Economic Development Director DeJong stated the purchase would require a small interfund loan to reach the $900,000 acquisition amount. PUBLIC COMMENTS Jim Hollestelle, 738 Jefferson Avenue, Louisville, CO stated the Town was built based on the mining industry and not on farming. He felt the grain elevator was a waste of money. He stated the City would be ill advised to spend this amount of money in these tough economic times. Mary Kay Knorr, 1209 LaFarge Avenue, Louisville, CO interviewed Louisville residents who shared their farm experiences about the Grain Elevator and she wrote a story about their experiences. She distributed copies of the story to the Mayor and Council. Michael Menaker, 1827 W. Choke Cherry, Louisville, CO voiced his concern over how the RFP would be written. He noted it is an oddly constrained site, with a strange layout. He suggested the City not be in a hurry to separate the NAPA building from the larger parcel until the RFP is written. Peter Stewart, 1132 Jefferson Avenue, Louisville, CO encouraged Council to vote yes to preserve the grain elevator. He felt if the City does not acquire the property it will be demolished and lost forever. He stated the grain elevator has intrinsic value. John Leary, 1116 LaFarge Avenue, Louisville, CO did not feel it was prudent to spend the money to rehabilitate the grain elevator at this time. He felt different options would have significant impacts on the City. He felt it was prudent to save the grain elevator, but to not use it as part of some development.