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• sabools, sto. will o ntinue. flogefOr41, -LoVi <br /> sbonld have the bensfit0 of generating take dl <br /> for its oawunity by having this project locstd if <br /> Louisville. <br /> • Percy Conarroe, editor of the Louisville Times, <br /> stated that be is concerned that all the final <br /> documents are not completely ready for this <br /> evening's meeting. nr. Conarroe stated that <br /> pertinent information is still not available, i.e., <br /> cost of Project, amount of bonds to be issued,,. <br /> intermit rate on these bawds and the, bond's ` <br /> securities Kr Coaarroe urged that Council r�. =a� <br /> extra ,capalulw prior to caking noel, 4 cisio ;: + <br /> Co * so is oel:theat .opposed to, the .401! . . .. '+ . <br /> ;r •• �:., _ ;1 to tr <br /> • <br /> Keyde isuaae stated gnat this in seoona reeding <br /> • <br /> this , although Council does not <br /> necessarily have to reach • decision tonigt. . <br /> In response to Kr. Coaasros's remarks, lendla, <br /> stated that there, are documents that are being 'fins <br /> tuned" and were not yet available tonight. inndiey-" <br /> outlined the specifics of the Annexation Agt* c..: <br /> w explained that the proposed Annexation Agiregmen0 <br /> between the City and Coal Creek Associates lay cult , <br /> the obligations and responsibilities of both <br /> parties, the City and the Annsxor. It reflects <br /> Council's direction to staff that there must be some <br /> ooepellinq benefit to the City in order to consider <br /> this residential annexation. That compelling • <br /> benefit is the golf course which utilises 104 acres <br /> of net new perks/open space land dedicated to the <br /> City with credit enhancements sufficient to minimise <br /> the financial exposure to City residents in general. <br /> 'Wadley continued stating that as with any <br /> annexation, the proposed Annexation Agreement <br /> obligates the annexor to complete certain <br /> improvements as part of their development, water <br /> lines, sewer lines, roads, curbs, gutters, <br /> sidewalks, hiker/biker trails, storm water <br /> detention, etc. <br /> It also specifies the number of residential unite <br /> permitted (450) and the maximum number of units <br /> permitted per year in order to help reduoe the <br /> project's impacts on the City (90 units in y�1 <br /> yew 2 with carry-overt 7$ units each ye the ter <br /> without carry-over). <br /> 4 <br />