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There will be a continuous Dillon Road connection provided across US 287, and the <br />parties agree to cooperate and assist one another in efforts to acquire right-of-way for the <br />Northwest Parkway, including the use, the power of eminent domain, contribution of <br />funds or land for such right-of-way. The agreement also states that the parties would <br />agree to the creation of a public entity or entities pursuant to the existing State Statutes, <br />specifically a public highway authority or a metropolitan district, to construct the <br />Northwest Parkway. Additionally, Louisville, Lafayette, Broomfield and Boulder County <br />will consent to the construction of the Northwest Parkway within the parties boundaries <br />and within the corridor shown on 'Exhibit A'. The parties would also consent to the <br />exercise of power of eminent domain by the entity or entities that might be charged with <br />the construction of the Northwest Parkway. That includes the use of the power of eminent <br />domain within the City of Louisville. The total Parkway bond proceeds is estimated to be <br />approximately $255 million. After reservations for construction and interest, there ,would <br />be monies designated for the following purposes: a minimum of $22 million would be <br />allocated from the Parkway proceeds for right-of-way acquisition, for the construction of <br />certain area roads including the construction of South 96 Street which would connect <br />from Highway 42 over to existing South 96th Street and is estimated to cost <br />approximately $8.5 million. There will also be money set aside for the construction of <br />Dillon Road and for the construction of Midway Boulevard within the City of <br />Broomfield. There will be $5 million that will be used for the purchase of conservation <br />easement and/or open space for the City of Louisville. Within the Intergovernmental <br />Agreement itself, there are certain parcels that are designated as City Preservation Areas. <br />Simmons identified these areas on the map, 'Exhibit A'. Simmons stated that after the <br />public hearing by the Boulder County Commissioners last week, the City of Louisville <br />received correspondence from them regarding their suggested language for changes to <br />this. agreement. Some of these have been included in the draft Intergovernmental <br />Agreement and deal with the area along Dillon Road. The Commissioners received <br />considerable public testimony at their hearing regarding what the residents felt were the <br />impacts of the Northwest Parkway along Dillon Road. There are some additions that <br />reflect those suggestions by the County Commissioners. One is that the Parkway be <br />located sufficiently far south so as to avoid significant detrimental impacts upon the <br />Kilker homestead building cluster. The other change adds language that the parties <br />looking at the future right-of-way for the Northwest Parkway take into consideration the <br />interest of homeowners whose homes front on Dillon Road. Today, a letter from the <br />office of the Boulder County Attorney was received which includes suggested language <br />to be incorporated into the Intergovernmental Agreement regarding the Paradise Lane <br />property. The change states that Boulder County agrees to consider approval of <br />residential uses with a density of no more than one unit per five acres on these parcels, <br />provided that a perpetual conservation easement limiting development to no more than <br />one per five acres is secured as part of the approval of the new density. The letter also <br />includes suggested language regarding potential future development of the parcel just <br />south of Paradise Lane, which is owned by Storage Technology Corporation. It states that <br />if and when that parcel is annexed into the City of Louisville, the City of Louisville <br />would make every attempt to provide a buffer on the north part of that property so as to <br />provide a buffer between any development on that property and Paradise Lane. <br /> <br /> <br />