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Louisville City Council Meeting <br />November 6, 2001 <br />Page 13 <br /> <br />Simmons reviewed that the City of Louisville, City of Lafayette and Boulder County are <br />pursuing acquisition of the 55.34-acre Fingru property for open space purposes. The <br />property is within the City of Lafayette and has a portion of Coal Creek, and the Coal <br />Creek Trail. He stated that the notice will be published on November 9, 2001. <br /> <br />MOTION: Davidson moved that Council authorize publication of the notice, seconded <br />by Brown. All in favor. Mayer and Howard excused. <br /> <br />ORDINANCE NO. 1372, SERIES 2001 - AN ORDINANCE AUTHORIZING THE <br />PAYMENT OF CITY MONEYS FOR THE ACQUISITION OF A PARCEL OF <br />REAL ESTATE KNOWN AS THE FINGRU AG (ADLER) PROPERTY - 1st <br />reading - set public hearing 11/20/01 <br /> <br />Davidson called for City Attorney introduction. <br /> <br />City Attorney Light read Ordinance No. 1372, Series 2001, noting an amendment that it <br />is an Emergency Ordinance. <br /> <br />City Administrator Simmons addressed the nature of the emergency. He explained that <br />the owner of the parcel of land is a Swiss corporation, Fingru Ag Inc. He stated that the <br />company is registered in Colorado to do business. Closing is scheduled for November <br />21, 2001. The owner will be in the Country on November 19, 2001 and wishes to sign all <br />the documents at that time. Simons stated that the owner has a concern that the US Dollar <br />is losing value to the Swiss Franc. <br /> <br />Simmons stated that Boulder County will pay for 50 percent of the property and <br />Louisville and Lafayette will pay 25 percent each. <br /> <br />Davidson opened the public hearing and asked if anyone in the audience wished to speak <br />for or against Ordinance No. 1372, Series 2001. Hearing none, Davidson closed the <br />public hearing. <br /> <br />COUNCIL COMMENTS <br /> <br />Sisk stated that this matter was discussed at the Finance Committee meeting. One <br />request from the Committee was that this matter be placed on the Open Space Advisory <br />Board Agenda for November 19, 2001. Sisk stressed that City Administrator Simmons <br />and Finance Director Dianne Ray have assured the Finance Committee that there are <br />funds available for the City's share ($575,000) of this open space purchase. <br /> <br />Simmons stated that the November 20th Agenda would include the purchase contract and <br />a resolution for supplemental appropriation. He stated that it is Staff's recommendation <br />that a transfer be made from the City's General Fund to the Land Acquisition Fund. <br /> <br />13 <br /> <br /> <br />