City Council Minutes 2014 10 21 - Laserfiche WebLink

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City Council Meeting Minutes October 21, 2014 Page 15 of 24 2015 -2019 Capital Improvement Plan. MOTION: Mayor Pro Tem Dalton moved to set a special meeting for Tuesday, October 28, and continue the public hearing on the City Manager's Proposed 2015 Budget and 2015 -2019 Capital Improvement Plan, and the agenda for the Special Meeting be Discussion /Direction /Action on the City Manager's Proposed 2015 Budget and 2015- 2019 Capital Improvement Plan, seconded by Mayor Muckle. All were in favor. ORDINANCE No. 1674, SERIES 2014 — AN ORDINANCE AUTHORIZING THE PAYMENT OF CITY MONEYS FOR THE ACQUISITION OF AN APPROXIMATELY .638 ACRE PARCEL OF LAND OWNED BY STEPHEN D. TEBO LOCATED AT 1055 COURTESY ROAD, CITY OF LOUISVILLE, BOULDER COUNTY, COLORADO — 2nd READING — PUBLIC HEARING Mayor Muckle requested a City Attorney introduction. City Attorney Light introduced Ordinance No.1674, Series 2014. Mayor Muckle opened the public hearing and requested a staff presentation. City Manager Fleming explained on October 7th the City Council approved Resolution No. 62, Series 2014, which authorized a Purchase and Sale Agreement between the City and Stephen D. Tebo, on a .638 acre portion of property at 1055 Courtesy Road for future public parking within the Highway 42 Redevelopment Area. Ordinance No. 1674, Series 2014 authorizes the payment of City moneys for the acquisition of the property and is before Council on second reading and final action. He explained several developments are coming to advance the redevelopment of the east side of the BNSF railroad in downtown. The proposal is to acquire a parcel in the area for parking for special events and employee parking. Council provided staff with an acquisition strategy at an executive session and based on that strategy, staff is proposing the acquisition of the parcel. The purchase price is $417,000 ($15 per square foot) based on an appraisal of $16 per square foot. The City agreed to pay up to a maximum price of $15 per square foot. Staff believes the site will yield 70 -80 parking spaces dependent upon the design. He noted there are a number of conditions Council approved at their October 7th meeting. The ordinance is required to go forward with the purchase of the property. PUBLIC COMMENTS Garrett Mundelein, 555 County Road, Louisville, voiced his strong opposition for the ordinance because it uses funds from multiple sources with an end result that does not counter balance the expenses or the commitments the City is making. The purchase would cost the citizens $417,000 for the land and $440,000+ for the development of a