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board vacancies late in 1987. Mr. Obenchain was the <br />only applicant four the position and the LLDR Board <br />met with him and recommends Council appoint him to <br />fill the vacancy. <br />Mayor Fauson moved and Scarpella seconded to appoint <br />Kevin Obenchain to the LLDR Board. Unanimous. <br />ORDINANCE #948 - COAL CREEK RANCH ANNEXATION - <br />PUBLIC HEARING Ordinance #948, "inn Ordinance annexing to the City <br />of Louisville, Co:Lorado a parcel of property of <br />approximately 227 acres generally located along Coal <br />Creek between Dillon Road and Cherry Street." <br />Sackett and Anderson asked to be excused during the <br />proceedings on a1:1 issues related to the Coal Creek <br />project due to possible conflict of interest. <br />Mayor Fauson opened the public hearing. <br />Hundley explained that the next five items on <br />Council's Agenda would if acted upon favorably by <br />Council effectively begin the process of bringing an <br />18 hole golf course to Louisville along with some <br />modest residential growth. This project has been a <br />complicated time consuming project, but one which <br />offers a great many benefits to Louisville and its <br />residents. <br />The project began taking shape in earnest in the <br />fall of 1987 through a series of meetings with the <br />project proponents, adjacent property owners and <br />representatives o:E the City. The project meets <br />several key goals established by Council over the <br />last two years - :improving the City's economic and <br />commercial base and promoting moderate residential <br />expansion. This project will help the City in a <br />number of critical ways: provide a major amenity to <br />Louisville residents while at the same time, it <br />minimizes financial risk to the taxpayers by placing <br />the repayment burden on users of the golf course and <br />other beneficiaries. <br />Hundley stated that this project is a very <br />complicated one involving multiple property owners, <br />a number of conditions for performance before the <br />annexation can be considered final, the assumption <br />of reasonable bids and favorable interest <br />environments. This project is truly a public/private <br />partnership. <br />Wanush gave a detailed presentation regarding the <br />background on the project stating that the <br />applicant, Coal Creek Associates, is requesting the <br />annexation of 227 acres of ground generally located <br />2 <br />