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City Council Meeting Minutes September 3, 2013 Page 6 of 22 Louisville Mill Site, LLC is an entity controlled by Randy Caranci and J. Erik Hartronft. Staff recommended the City Council approve Ordinance No. 1639, Series 2013. Mayor Muckle requested the City Attorney explain the sequence for the resolution for . the sales and purchase agreement and the ordinance for the sale and conveyance of Ordinance No. 1639, Series 2013 is required for the sale, like any City property. At the August 20th meeting, Council approved Resolution No. 44, Series 2013, which authorized a purchase contract. The approved resolution gives authorization for the parties to begin the due diligence review and various other processes subject to the condition that the ordinance must be adopted, published and take effect before closing on the property. The requirement is part of the Louisville Home Rule Charter and the Louisville Municipal Code. He noted the same applies to Ordinance No. 1640, Series 2013, which approves a purchase of land by the City. He explained the buying and selling of property is a legislative act. COUNCIL COMMENT Council member Yarnell missed the first reading of the ordinance and asked City Attorney Light whether she should recuse herself from voting. City Attorney Light stated she may vote. Council member Loo addressed the minutes of the last meeting, which recorded she approved the sale of the grain elevator. She explained she is approving this project with reservations. She felt the project was ill-conceived to begin with, but out of all the proposals discussed for this property, this has been the best. She explained the City paid $950,000 for the grain elevator and is selling it for $200,000. However this limits the amount of money which could have been spent on the grain elevator as compared to other proposals. Mayor Muckle called for public comment and hearing none, closed the public hearing. Mayor Muckle voiced his belief Council member Loo's characterization of the proposal was unfair. He felt this proposal is the most cost effective way to preserve an iconic Louisville landmark. MOTION: Council member Jasiak moved to approve Ordinance No. 1639, Series 2013, seconded by Council member Loo. Roll call vote was taken. The motion carried by a vote of 7-0. ORDINANCE No.1640, SERIES 2013 — AN ORDINANCE AUTHORIZING THE PAYMENT OF CITY MONEYS FOR THE ACQUISITION OF PROPERTY LEGALLY DESCRIBED AS LOTS 6, 7 AND 12, COLORADO TECHNOLOGICAL CENTER FILING NO. 2, CITY OF LOUISVILLE, BOULDER COUNTY, COLORADO — PUBLIC HEARING