City Council Minutes 2017 08 15 - Laserfiche WebLink

Home Browse Search

City Council Meeting Minutes August 15, 2017 Page 3 of 13 REGULAR BUSINESS ORDINANCE NO. 1745, SERIES 2017 — AN EMERGENCY ORDINANCE APPROVING AN INTERGOVERNMENTAL AGREEMENT AMONG THE CITY OF LOUISVILLE, CITY OF LAFAYETTE AND COUNTY OF BOULDER CONCERNING THE PURCHASE OF THE MAYHOFFER FARM OPEN SPACE PROPERTY AND, IN CONNECTION THEREWITH, AUTHORIZING THE PAYMENT OF CITY MONEYS FOR THE ACQUISITION OF A FEE TITLE INTEREST IN AND RECIPROCAL CONSERVATION EASEMENTS OVER THE PROPERTY FOR OPEN SPACE PURPOSES, AND APPROVING AND AUTHORIZING ADDITIONAL INSTRUMENTS AND ACTIONS IN CONNECTION THEREWITH — Emergency Ordinance — Public Hearing — 1st and Final Reading Mayor Muckle introduced the ordinance. Attomey Light read the title of the ordinance and noted this is an emergency ordinance. This will be the public hearing and the first and final reading of the ordinance Mayor Muckle opened the public hearing He noted this is being handled as an emergency ordinance so the sellers can close the sale by the end of the month He added the purchase of this property has been the City's highest open space pnonty for many years, the current negotiations have been underway for three years. The ordinance will secure Louisville's interests in the property, the price, and the conservation easements in preparation for the purchase. The purchase contract is under negotiation and this ordinance gives the Mayor the authority to approve a purchase contract as long as it doesn't change substantially, the purchase contract will not come for Council approval separately as long as there are no substantial changes Interim City Manager Balser stated Boulder County will be entering into a purchase agreement for 165 acres of the Mayhoffer Farm property, located at the intersection of South 95th Street and Empire Road, along with the associated water and mineral rights The intergovemmental agreement (IGA) sets out a Louisville payment of just over $2M of the approximately $8.225M purchase pnce for the acquisition of fee title interest in and reciprocal conservation easements over the property and other associated interests. The County will pay 50% of the purchase price and Louisville and Lafayette are paying 25% each She noted there will be two conservation easements over two residential Tots totaling 19.88 acres and one restrictive covenant over another residential lot totaling 14.29 acres, to be administered by Boulder County (the total property is approximately 199.48 acres). The easements will limit the size of the principal and accessory structures on these lots. The documents also require the preservation of certain historic buildings and prohibit the future subdivision or annexation of these Tots.