City Council Minutes 2012 09 04 - Laserfiche WebLink

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City Council Meeting Minutes September 4, 2012 Page 5 of 17 COUNCIL COMMENTS Council member Keany suggested the ordinance be amended to reflect no subdivision of the property and no rehabilitation. Council member Jasiak asked if the City's intent is to purchase the property and use the funds outlined in the ordinance, would there be a need to come back before Council. City Attorney Light explained the ordinance does not obligate the Council to go forward on all the provisions such as stabilization, rehabilitation and redevelopment. Economic Development Director DeJong stated if Council approves the acquisition only, it would not provide any flexibility for drafting an RFP. Mayor Muckle noted Historic Preservation Funds are dedicated for preservation projects. He felt passing the ordinance will eliminate a Council review of a funding ordinance at a later time. Council member Keany felt funding the purchase of the grain elevator only would allow more time for public input. He preferred to separate the acquisition from the stabilization, rehabilitation and redevelopment. Council member Sackett supported going forward with the ordinance as written. City Attorney Light explained Council has the option to revise the ordinance on second reading. Mayor Pro Tem Dalton supported the property acquisition only and deciding on the improvements later. He felt it would be expensive to maintain the property. PUBLIC COMMENT John Leary, 1116 LaFarge Avenue, Louisville, CO inquired about the funding of the purchase and whether the full amount of the loan has to be made. He stated there is opportunity costs associated with the money. Finance Director Watson explained a budget amendment set by resolution, establishes the transfer for the full amount. A financial plan has the Historic Preservation Fund paying back the funds over a period of time. He explained the Council is not obligated to spend all the money, but there is a financing plan in place. City Attorney Light explained an earlier ordinance establishes Historic Preservation funds are derived from the tax and from interfund loans. Ordinance No. 1622 gives the approval of the loan and sets the terms. He confirmed the Council is not obligated to spend all the funds. Jim Hollestelle, 738 Jefferson Avenue, Louisville, CO opposed money being spent on this project and noted if money has been allocated, it will be spent.