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rights a;>sig.rred to a:l:l. parcels of land proposed <br />for annexation be firansfer..red t:o thc~ City at t:hc' <br />time of annexation. The proposed revision <br />provides for the Council.. to decide the t.imi.ng of <br />t:he t r_ ansfer of t:he water. r:i.ght:s and i_f i t: i s morc.:~ <br />desi_r. abl e than a rash--in--l ier.z payment . A rash <br />payment: may enab:i.e the C:i.ty to ar..quire water <br />rights of a higher quality t:han could bey obtrained <br />:From thE} dedication r~equ:ircjmerrt:. <br />Mayor Fauson closed the publ :i. c, hearing and ca l.lc~d <br />for a rnot.ion . <br />F'err.era moved and Mayor I'auson sec..onded to adopt <br />Ord.in.anc.e #9'/U, Ser_i_es 19Ht3. I3y Rol].. Ca 11 Vote, <br />Or_din~~ncE~ #~)'!U, Series ty£~f~ w~~s adopted '/-U. <br />RESOL[_J'I'ION #4'/ - VALLEY GLEN <br />P[_JD Fr.ank]_.in exp] a:ined t:hat: this Reso1 ut:i.on was rE:gad <br />]n it;:> ent=i.r_ety at Council's October. 1. f3 Meet.ing <br />and. was tabled unt_1 this even.:ing to permit t:kre <br />appli..r..ant. and staff to establish a phasing plan <br />for private landscaping. <br />This Resolution is requested by Lee Architects, on <br />behalf of_ Cornerstone Management. Group, L,TD as <br />approval of a final PUD for a 18U unit apartment <br />r_omplex. The proposed apart:.ment: cornpaex is <br />located in Centennial Valley Parcel- "0" and <br />=includes eight: building and private amenities. <br />Planning Commission reviewed and recommended <br />approval. of the final PUD for Cornerstone's It3U <br />unit. apartment complex. <br />Larry Redding, 3U1 S. Taft Court, asked to speak <br />to t:his .issue and presented a written request: <br />asking Council to deny the request: for g.ina_l Pt_ID. <br />(The letter. wi.]_) become Attachment:. A to tare <br />rninute:s . ) <br />Three gent:temen, residents of. Boulder and <br />Longmont, stated that they owned apartment <br />complexes in the City of houisvil.le and felt. the <br />needs of the C:i.ty, and t:he needs of people _n thi s <br />part.irular inr.ome br.ac.ket:, were current::ly being <br />met. by the these properties t=.hc~y own.. Anot:hc~r <br />issue raised that of a high vacancy rates i.n <br />existing apartment complexes and their concern of <br />what the impart. rn:ight: be of lk(U add_i_t:i ona:1 units . <br />Franklin detailed t:.he pha.si.ng plan staging t:h.at <br />the ]-andscaping improvements a_l ong Dillon Road, <br />and t:he amenities package {the community room, <br />swimming pool., tennis courts and a significant. <br />amount of~ Landscaping and detention facil_i_ties, <br />4 <br />