City Council Minutes 2001 12 04 - Laserfiche WebLink

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Louisville City Council Meeting December 4, 2001 Page 14 Pedersen asked for consideration on when the McCaslin Interchange Fee is due. He requested that it be payable prior to the issuance of occupancy permits. With respect to the open space and property value, he noted that the property values have plummeted over the past 18 months, however, he would be open to negotiations. Keany asked if 25% of the purchase price would be an acceptable amount for cash in-lieu of public land dedication. Pedersen stated his preference to stay with the appraisal amount. Mayer commented that the Planning Commission's recommendation on the trees should be considered. He voiced his concern about changing the species of trees and noted that was not done for any other developer. He voiced concern that the southeast corner did not have any evergreen trees for screening. Mayer addressed the McCaslin Interchange Fee and stated that it makes maintenance of the Interchange equitable for all concerned along McCaslin Boulevard. He stressed that Homart paid over 5 million dollars for the interchange. He doubted that the State would add funds for maintenance. Mayer asked Wood what Koebel and Company had left to develop, in terms of retail. Wood stated that Koebel and Company has one lot, of approximately 1.5 acres, just north of Lowe's. Mayer stated that in terms of cash in-lieu, there must be an understanding that the Council vote on the entire agreement and not just individuals connected to the City. He stated that the agreement was not ambiguous and said what was meant. Mayer stated that he had not made up his mind with respect to the automotive, but was pleased with the balance of the proposal. He noted that there has been a lot of landscaping utilized as screening. Mayer addressed the Walgreen's sales tax projections and explained that currently sales tax in Louisville is somewhat flat, and questioned the projections suggested by Mr. Pedersen. Sisk asked if the applicant's real estate agent was available to comment about the appraisal of the property. He asked what the listing property sold for. Chris Ball, Fuller & Company, 3636 Decatur St., Denver, CO. He stated that he was not involved in the sale of the property and not aware of the purchase price. He stated that he is representing Mr. Pedersen in the leasing of prospective tenants. Sisk asked Pedersen if the property known as Colorado Technological Center (CTC) would be comparable with the property on McCaslin for valuation purposes. He 14