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Sackett stated that W-470 will allow Louisville to <br />avoid an increase in taxes in the future and allow <br />the City to determined its own destiny in that we <br />will be less growth dependent. Louisville will be <br />able to take advantage of the economic development <br />that will result from the airport. Sackett stated <br />that Louisville sits at an ideal location with <br />the University to the west and having intersections <br />both on U.S. 36 and W-470 that will attract high <br />tech industry. Sackett feels that this is an <br />investment in Louisville's future and will <br />eventually save its citizens money. <br />Mayor Fauson agreed that we have to invest in our <br />future today to have a good future tomorrow, <br />Mohr stated that he and Sackett have sat on the W- <br />470 Authority representing the City and shared <br />some of the findings that have resulted in the <br />planning of this Highway. Mohr stated that the <br />proposed $10 registration vehicle fee will be a <br />temporary assessment to be used as a start-up fee <br />and will end at the point that the W-470 Tollway <br />produces enough principle and interest to pay the <br />annual bond payments. Mohr stated approximately <br />60~ of the traffic in the Metro area, moving from <br />home to work, is moving from suburb to suburb -- <br />not from suburb to downtown. W-470 will provide <br />better access to those existing and proposed <br />employment centers without having to go through <br />the "mousetrap." W-470 will help reduce travel <br />time, help air quality and help in traffic safety. <br />Mohr moved and Sackett seconded to adopt <br />Resolution #3, Series 1989. By Roll Call Vote <br />Resolution #3, Series 1989 passed 6-0. <br />ORDINANCE #979, SERIES 1989 - PARAGON HEIGHTS ANNEXATION - 1ST READING <br />SET PUBLIC HEARING Read by title only, Ordinance #979, Series 1989, <br />"An Ordinance annexing to the City of Louisville, <br />Colorado, a parcel of property located southwest <br />of Louisville Reservoir which is owned by the City <br />of Louisville." <br />Franklin explained that the City acquired, from <br />Boulder County, lots 6, 7 and 8 Paragon Heights a <br />lots 9A, 15A, 16A and 17A Paragon Heights Replat. <br />This city-owned property is proposed to be <br />annexed, and Zoned A (Agricultural) consistent <br />with adjoining city-owned property. State <br />statutes allow of the annexation of municipally <br />owned land by such municipality without formal <br />notice and hearing. The proposed A Zoning is <br />subject to standard City procedures. <br />3 <br />