City Council Minutes 2001 11 20 - Laserfiche WebLink

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Louisville City Council Meeting November 20, 2001 Page 13 ORDINANCE NO. 1372, SERIES 2001 - AN ORDINANCE AUTHORIZING THE PAYMENT OF CITY MONEYS FOR THE ACQUISITION OF A PARCEL OF REAL ESTATE KNOWN AS THE FINGRU AG (ADLER) PROPERTY - 2nd reading -public hearing (advertised Daily Camera 11/09/01) Davidson called for City Attorney introduction. City Attorney Light read Ordinance No. 1372, Series 2001, an emergency ordinance. Davidson called for Staff presentation. City Manager Bill Simmons stated that Agenda Items E., F., and G. are all related to the acquisition of open space property. Item E. authorizes the payment for the open space property. Item F. is the Resolution approving the purchasing contract and agreement to exchange reciprocal conservation easements. Item G. is the budget transfer of funds for the purchase of open space. Simmons reviewed that the City of Louisville, City of Lafayette and Boulder County are pursuing acquisition of the 55.34-acre Fingru property for open space purposes. The property is located within the City of Lafayette between Empire Road and Coal Creek and northwest of the intersection of Empire Road and South 104th. Simmons stated that under the proposed contract, Louisville, Lafayette and Boulder County shall pay the owner a total purchase price of $2,3000,000 for the property. Louisville would pay $575,000 of the total purchase price. Louisville and Lafayette would each own a one-quarter interest in the property; the County would own a one-half interest. The parties would exchange conservation easements over the property upon acquisition. Simmons stated that the easements provide for recreational uses, which include hiking, photography, nature studies, and construction of trails. Also listed are uses approved for the deaf and blind. He noted that agriculture uses would continue. Simmons stated that the nature of the emergency is that the closing is scheduled for tomorrow. He explained that Fingru is a Swiss corporation that is licensed to do business in the State of Colorado, and that the property owner resides in Sd Lanka and will be available to close on the property tomorrow. Simmons stated that the Open Space Advisory Board reviewed the property. He noted that Coal Creek and the Coal Creek Trail runs through the property. He explained that the Coal Creek Trail will act as buffer between Louisville and Lafayette. Davidson opened the public hearing and asked if anyone wished to speak for or against Ordinance No. 1372, Series 2001. Hearing none, Davidson closed the public hearing. Brown stated that it is a grand addition to the City's Open Space property. He commended Staff for the acquisition. 13