City Council Minutes 1986 04 22 - Laserfiche WebLink

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Rautenstraus explained that the Resolution setting the Public Hearing and Notice of the Public Hearing was published in the Louisville Times on April 2, 1986. Rautenstraus requested if anyone in the audience wished to speak against the assessment or protest the assessment. None. Blake Jordan of Larnm Edstrom and Braymer, Bond Counsel for the City of Louisville, explained the Ordinance and presented some evidence from the property owner. Jordan explained to Council that this i~ a Public HE.aring and as such, Council is serving in a quasi-judicial capacity. Consequently, it becomes necessary to make a record of the hearing in event of any subsequent challenge to the assessment. Mr. Tom Hoyt stepped to the podium and state his name and address, 3180 Galena, Boulder, Colorado, and stated that he was the president of Mc;Stain Enterprises and is a professional enginE~er in Colorado. Jordan; "As president of McStain, I assume that you are familiar with real estate values and the value of property."' Hoyt: "Yes sir. I have 20 years in the real estate business in Boulder County." Jordan: "Is McStain the owner of all the property with the District right now?" Hoyt: "It is." Jordan: "As such, ]C assume you are familiar with the property and the improvements that are going to be constructed." Hoyt: "I am very familiar with the property and the improvements." Jordan: "In your opinion then, do you think the property in the District receives a special benefit from market value increase in at least the amount of the assessment which assessment is in the amount of $1.6 million?" Hoyt: "I do. As a matter of fact, I see it as absolutely essential to the property to have the improvements installed." Jordan: "Thank you,." Rautenstraus advised the Mayor that it is 2