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property owned by Yvonne H. Russell and David H. <br />Russell." Proof of publication and notice of <br />public hearing were certified by the City Clerk. <br />Mayor Fauson opened the public hearing. <br />McGuire stated that by Council's action on <br />Ordinance #957 (Russ,ell Annexation), this <br />ordinance proposes t:o zone this parcel R-E. <br />Planning Commission reviewed and approved this <br />zoning request. <br />Mayor Fauson asked f`or any public comments either <br />in favor of or in opposition to Ordinance #958. <br />None. <br />Mayor Fauson closed the public hearing and called <br />for a motion. <br />Ferrera moved and Ca~.rnival seconded to approve <br />Ordinance #958, Series 1988. By Roll Call vote, <br />the Ordinance passed 4-0. <br />AMENDMENT TO GOLF COURSE <br />AGREEMENT Stahl stated that the golf course transaction that <br />is being closing on the 25th of Auqust, the <br />closing of the golf course bonds, is rather <br />complicated and staff is asking Council to <br />authorize approval of the execution of a third <br />amendment to the ,Annexation Agreement and an <br />amendment to the Escrow Agreement. These <br />amendments would remove the requirement that the <br />City has hired a golf course management group <br />prior to closing oi: the bonds. At the time the <br />Agreement was executed on behalf of Coal Creek <br />Associates and the City of Louisville, it was felt <br />primarily on the part of the applicant that the <br />professional management group be in place prior to <br />closing on the bonds and that would give them some <br />additional comfort as to the timing that the City <br />could draw on their Letter of Credit. This <br />amendment removes that requirement by allowing the <br />City an additional 90 days to negotiate with <br />various management groups. Staff is also seeking <br />authorization to advertise for a project manager, <br />a position budgeted and provided for in the bond <br />proceeds. This person would coordinate the <br />removal and relocation of public utilities on the <br />golf course property, and coordinating with other <br />contractors the demolition of structures that <br />exist on the site, and verifying grades and <br />working with Dick Phelps as well as a professional <br />golf course superintendent to verify pay estimates <br />and make recommendations regarding change orders. <br />7 <br />