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Lathrop: <br /> <br />to cause us to be in violation of <br />this intergovernmental agreement. <br /> <br />Our future economic health rests <br />with our ability to sustain <br />ourselves through sales tax on goods <br />and services and, to a much lesser <br />degree on user fees and property <br />taxes. Since our City is now <br />surrounded and boxed in by other <br />communities, we must think <br />differently. We can say that <br />Centennial Valley will provide <br />sufficient space for retail <br />development for our future needs, <br />but do we know that? The City's <br />greatest source of revenue comes <br />from sales taxes. Major retail <br />development occurs along major <br />arterial roadways. U.S. Hwy. 287 <br />will be the major roadway for <br />Lafayette's commercial retail <br />development to occur. Portions of <br />Centennial Valley near U.S. Hwy. 36 <br />and the 96th Street/U.S. Hwy. 42 <br />corridor, from what will be the 96th <br />Street interchange at U.S. Hwy. 36, <br />all the way north to the existing <br />Louisville Plaza will be ours. We <br />are a defined boundary city and as <br />we in-fill and mature, our options <br />become less and less. We should <br />reserve and preserve all available <br />options for the current and future <br />citizens of Louisville. We should, <br />as a Council and as a city, seek to <br />purchase the entire parcel as open <br />space with recreational and <br />municipal uses, as necessary and <br />desirable, and the option to utilize <br />a portion thereof for commercial <br />development, should the future <br />leaders of Louisville deem it <br />necessary. Acquisition of this <br />piece of property could be this <br />Council's legacy to the present and <br />future citizens of Louisville. <br /> <br />Mayer stated that there was a vote taken on this issue in 1985, <br />with the specific issue being did they want to annex this piece of <br />ground and retain 25% of it for commercial development and leave <br />75% open space. He commented that that vote was turned down. He <br /> <br />16 <br /> <br /> <br />