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ORDINANCE #948 - COAL CREEK ANNEXATION - 1ST READING - <br />3ET PUBLIC HEARING Ordinance #946, "An Ordinance annexing to the City <br />of Louisville, Colorado, a parcel of property of <br />approximately 227 acres generally located along Coal <br />Creek between Dillon Road and Cherry Street." Per- <br />mission is being sought to place the Ordinance out <br />for publication and a public hearing set for <br />February 2, 1988. <br />Mayor Fauson moved and Szymanski seconded that <br />Ordinance #948 be placed out for publication and <br />public hearing set for February 2, 1988. Unanimous. <br />ORDINANCE #949 - COAL CREEK ZONING - 1ST READING - <br />SET PUBLIC HEARING Ordinance #9497, "An Ordinance amending Title 17 of <br />the Louisville Municipal Code entitled "Zoning" by <br />zoning property commonly known as the Coal Creek <br />Ranch." Permission .is being sought to place the <br />Ordinance out for publication and a public hearing <br />set for February 2, 1988. <br />Mayor Fauson moved and Mohr seconded that Ordinance <br />#949 be placed out for publication and public <br />hearing set for February 2, 1988. Unanimous. <br />APPROVAL OF WATER RIGHTS DEDICATION <br />POLICY Hundley explained that this policy was reviewed by <br />the City's Water Attorney Steve Williamson and was <br />discussed at great length at a recent Council Work <br />Session. Staff recornmends Council's approval of the <br />Water Rights Dedication Policy. <br />Wanush explained that: the current City Ordinance <br />requires the dedication of all water rights histori- <br />cally appurtenant to land being annexed to the City. <br />Land with no rights or with minimum rights is treated <br />the same as land with relatively valuable rights. <br />This policy corrects this situation by required land <br />deficient in water rights to pay a minimum fee in <br />lieu of water rights dedication. In addition, this <br />policy assigns relative weights to the individual <br />rights in order to more properly represent their <br />value to the City. These "weights" or "credits" are <br />then used to determine the cash in lieu required. <br />Staff and Council reviewed the policy and Hundley <br />pointed out that a table was prepared and given to <br />Council showing the effects of the implementation of <br />this policy by annexation and that the issue of <br />fairness and equity will not place an undue hardship <br />to prospective projects. <br />Williamson stated that this is a significant <br />improvement over what: is done currently. "I <br />don't know that its pE~rfect and it can be changed in <br />5 <br />