City Council Agenda and Packet 2012 07 03

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City Council Meeting Minutes June 19, 2012 Page 8 of 20 PUBLIC COMMENTS Mayor Muckle called for public comment and hearing none, called for Council comment. COUNCIL COMMENTS Mayor Pro Tem Dalton wasn't exactly sure what the numbers meant. He remembered an architect review and didn't see how these numbers added up. Director DeJong stated the team decided to use the Request for Proposal (RFP) numbers and evaluate those numbers in the analysis. Mayor Muckle wanted to know how firm the tax credit numbers were. Director DeJong stated getting the tax credits was a three phase process. First, the project has to have historical merit, second, the project must provide design work showing what would be altered without taking away from the historical value, and third the project must prove the design work is complete and has been reviewed. Tax credits are then earned by evaluating the preservation and use to determine eligible costs. Council member Loo asked if a public entity owned the building could it result in more state funding. Economic Director DeJong responded all of the additional funding depended on the way it was structured. Council member Keany wanted to confirm how the funding might work and the risk the City would incur. Mayor Pro Tem Dalton was hopeful there was movement toward minimizing the City's risk. Economic Director DeJong felt these were very significant numbers and was confident Council could decide whether this structure is a priority to the citizens and needs to be saved. Mayor Muckle recommended Council not give direction at this point. Steve Poppitz, 1031 Harper Street, Louisville, CO said he had attended a historic preservation conference and learned more about getting state and federal funds. He stated the private /public partnership was different but attainable. He disclosed he served on the Historic Preservation Commission for 4 -5 years and had resigned a month ago to not conflict with his interest in this project. Council member Keany asked how Council moves forward. City Manager Fleming suggested Council discuss strategy in an executive session. Councilor Keany expressed a desire to cap the City's financial involvement. RESOLUTION NO. 28, SERIES 2012 — A RESOLUTION APPROVING A PRESERVATION AND RESTORATION GRANT FOR ROOF RESTRUCTURING FOR THE JACOE - CONARROE HOUSE LOCATED AT 1131 JEFFERSON AVENUE (continued from 04/03/2012) Mayor Muckle requested a staff presentation. 20