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6/18/84 Page -11- <br />land for the expansion of the reservoir. <br />The developers are willing to donate the <br />land in excess of what will be needed. <br />I:n answer to Councilman Luce's question, <br />Mr. Farland stated that the land is totally <br />flat in the area for expansion that the City <br />is currently looking at, by the acquisition <br />of this piece of property the City would <br />have additional land to expand that reser- <br />voir. In summation, Mr. Farland stated that <br />t]he City would get some quality homes that <br />he felt were needed and wanted in the Com- <br />munity; felt it would be a plus for the <br />community - the City needs this category <br />o:E homes. He thought that it is not o.k. <br />that everbody that comes to this town is <br />a business man that wants to live in this <br />community and take part in the activities <br />o:E this community. We need that category <br />o:E person for them to build their plan <br />hE~re or go look at Boulder, Broomfield, or <br />Dc~nver doesn't make a lot of sense; and <br />he felt that it was an opportunity to cre- <br />ate an environment that shows that Louis- <br />ville is a total community. That there is <br />an opportunity for these people to parti- <br />c:Lpate and also live in the community. That <br />category of management is an important seg- <br />ment to have in any community. Because they <br />bring expertise; they bring experience; and <br />also bring additional benefits to the com- <br />munity in many ways for other services they <br />perform. So he thought as a representative <br />of_ the estate he would say that they had <br />a previous contract on this and as a result <br />of_ their conversation with someone here, <br />w:Lthin the City, they just didn't think they <br />would live long enough to develop any kind <br />of a plan; so they thought they were bring- <br />ing a sane plan that offers exchange and <br />benefits on both sides. Mr. Farland thought <br />that the heirs were entitled to a sale. <br />The people that bought the land originally <br />did not intend to not get any benefit out <br />oi= it. He felt their 4 years involved in <br />this and they are entitled to some benefits <br />and acquiring their benefits, these buyers <br />a~-e presenting a fair exchange in the. <br />community. That the City is getting what <br />they need and want for their reservoir - <br />w~Lll get some outstanding homes in the <br />