City Council Minutes 2015 07 28 - Laserfiche WebLink

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City Council Meeting Minutes July 28, 2015 Page 10 of 28 Jeff Suffolk, 225 Roosevelt Avenue, Louisville, CO advised the Council to put their money where their values are. He felt the Lucky Pie and Sweet Cow took a great risk to invest their money and develop their businesses in Louisville. He did not feel a higher offer meant a higher value. He supported the sale of the property to Mr. McManus. Michael Menaker, 1827 W. Choke Cherry Drive, Louisville, CO stated Lucky Pie and Sweet Cow have shown to be a great community value. He felt there was more in this proposal than the money. John Leary, 1116 LaFarge Avenue, Louisville, CO stated he viewed this issue from a fiscal perspective. He did not believe it was an issue about Sweet Cow or Lucky Pie, he felt it would be a lease, which could be purchased. He questioned why this was not sent out for bids. He stated the City does not know the actual value of the property. He asked what the City's fiscal policy is on this sale of city -owned property. He asked if the City is required to get the best price for the property. He felt the existing offer is creating a business assistance package. A general policy for business assistance is to entice businesses to come to Louisville. He felt the City is setting precedence and this issue should not be decided on an emotional basis. Phillip Prine, 1091 Copper Hill Court, Louisville, CO stated the City has put a decade and millions of dollars in a downtown plan into Louisville. He felt it would be a shame to throw away the plan. He felt the property should be sold to the right people to continue with the plan. COUNCIL COMMENTS Council member Loo addressed the issue of the money and stated the City is not losing any money on the sale of this property. Given the analysis of the cost per sf with recent sales in downtown Louisville, this has a very high rate. She noted the property will be paying property tax and for parking. She did not believe they should be discounting the employment aspects of these businesses. She stated the businesses are making sales tax revenue for the City. She stated this business model is working. Mayor Pro Tem Dalton made the following statements: Mr. McManus approached the City with an interest in buying the building. The City Council's decision to sell this property was not made in executive session. Council authorized staff to proceed with a certain strategy. The decision will be made in a City Council public hearing. With respect to the notion to suspend the purchase to acquire an updated appraisal, he felt the staff did so by comparing properties recently sold in the downtown area. He asked what would be the objective of an updated appraisal when a good faith offer has been made. He addressed the Verbeck's offer, and noted he and Council member Loo met with him. Mayor Pro Tem Dalton agreed to consider the offer. After considering Mr. Verbeck's offer, Mayor Pro Tem Dalton did not see anything compelling or as good for Louisville as the McManus offer. He stated the Lucky Pie and Sweet Cow have made contributions to the City. He did not believe the property would be flipped. Mr.