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to be people who already own homes, have equity, <br />the cash requirement may be substantially less. <br />These are also people who have larger amounts of <br />disposable income and the intent is that it will <br />spur future retail growth and development in the <br />City of Louisville. <br />Szymanski stated concern that the step-up buyer <br />doesn't need this type assistance. <br />Qualified buyers wi:Ll be determined by the <br />mortgage lenders according to Smith. <br />Mayor Fauson asked f:or any public comments in <br />favor of or in opposition to Resolution #19. <br />None. Mayor Fauson closed the Public Hearing. <br />Mayor Fauson moved that Inducement Resolution #19, <br />Series 1986, be adopted. Carnival seconded. <br />Szymanski moved thai: "low-income" be stricken from <br />the Inducement Resolution Title as there is no <br />real provision for l.ow-income in the actual <br />resolution. Sackett: seconded. Unanimous. <br />Mayor Fauson called for the vote on Inducement <br />Resolution #19, Series 1986, as amended. <br />Unanimous. <br />RECESS Mayor Fauson called for a short recess. <br />INTRODUCTION OF COMMISSIONER <br />JOSIE HEATH Mayor Fauson acknowledged Boulder County <br />Commissioner Josie Heath as a member of the <br />audience and welcomed her to the meeting. <br />HOMART ENTRY FEATURE Dave Stahl, Development Manager, of Centennial <br />Valley, Homart Development Co., introduced Jim <br />O'Neill, HOH, and presented a slide show and <br />answered questions regarding the entry feature to <br />be located on the N.W. corner of McCaslin Blvd. <br />and Cherry Street. <br />Wanush described the: Design Guidelines of the <br />Development Agreement between the City and Homart <br />which limits building heights to 35' except with <br />the approval of the City Council. It specified <br />that the Council should consider proximity to <br />streets and possible impacts on nearby uses when <br />deciding the height exception. Homart is <br />requesting an exception to the 35' height limit to <br />construct this entry feature to a height of 45' <br />above grade or 50' above the base of the corner <br />retaining wall to px•ovide a significant and quality <br />entry way into Homart's major business park. <br />8 <br />