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Howard: <br /> <br />What kind of costs are we talking <br />about? <br /> <br />Phare: <br /> <br />About $1,500.00. <br /> <br />Mayer: <br /> <br />Franklin: <br /> <br />Who currently owns CTC? <br /> <br />The Resolution Trust Corporation, <br />represented by the California <br />Insurance Commissioner. <br /> <br />GREAT LAUGHTER <br /> <br />Franklin: <br /> <br />Mayer: <br /> <br />Franklin: <br /> <br />There is no developer per se. Mr. <br />Colacci's status is more of a lot <br />owner and builder rather than a <br />developer. The Metropolitan <br />District is the only viable entity <br />left that the City could look to for <br />installation of the street lights. <br /> <br />Who is the Metropolitan District? <br /> <br />They are a Title 26, Special <br />District, quasi Municipal District <br />empowered to operate and maintain <br />improvements in the Colorado Tech <br />Center. They are presently trying <br />to retire a debt which was gained <br />from improving the streets, water <br />and sewer, and railroad utilities. <br />They do have a Board of Directors <br />and an Executive Director. <br /> <br />Mayer: <br /> <br />Our chances of collecting from them <br />are? <br /> <br />Franklin: <br /> <br />I had a recent conversation with one <br />of their representatives. Until <br />they get more development, their <br />first priority is paying off the <br />debt. They are reluctant to take on <br />more debt, however small it may be. <br /> <br />Howard: <br /> <br />The net loss to the City would be <br />$1,500.00, which seems to me, from <br />an Economical Development <br />standpoint, considering Louisville <br />is trying to increase its commercial <br />base, a reasonable cost and the gain <br />to the City is far greater than the <br />cost to the City. <br /> <br />10 <br /> <br /> <br />