City Council Minutes 1993 04 06 - Laserfiche WebLink

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very end of the meeting, the Mayor told the Council, with all Press present, that the County had reported to Louisville that the Lastokas had expressed the interest to the County that the County extend an offer. There was an 1984 agreement for the open space three (3) way purchase, which is understood. There was a 1985 election rejecting annexation of Lastoka for commercial development. Why not purchase this land for eventual commercial development? Louisville wouldn't do that, because it puts the City in the land speculation business. The current IGA would not allow Louisville to do that for at least six (6) years. It would most likely involve another election without any idea what the outcome of that election was. It would be of questionable legality. It would cost an additional $1.2 million, presuming Louisville doesn't get into a bidding war with the County and Lafayette. Would this be a proper use of service expansion fees? Service expansion fees are written into the City Code to fund capital items related to new growth, such as: ballfields, soccer fields, parks, new trails, expansion of the Library, expansion of the Recreation Center, new police cars, new snow plows. If Louisville spent $1.5 or $2 million on purchasing this land itself, that would mean a tremendous amount of money that wouldn't be available for these critical needs. How about buying the land ourselves as open space? The additional cost to Louisville would be $1.2 million, depending on what sort of bidding war there was. What would be the additional benefit to the City for the additional cost? Mayer went through the CIP fund and looked at what $1.2 million would mean Louisville would have to drop all of the new parks Louisville is building this year and next year, all of the playground rehabilitation now being done, all of the trail development, that would equal $1.2 million, not even knowing if Louisville could meet the price or not. Suppose Louisville doesn't participate? Mayer stated that if he could be guaranteed that it would remain open space, he would go for that. Louisville would have no say, if it were a two (2) party agreement. Mayer stated that even if there were a conservation trust, that trust would be between the parties that purchased the land, Lafayette and Boulder County. Who knows what will happen to the land in the future? He felt that it is important for Louisville to have a voice in terms of how this property is maintained. There would be a three (3) member governing board, with things done by consensus. Ballfields - Mayer felt it needed to be looked at as to whether that site makes the most sense. 14