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how. Louisville should take an active roll in developing that land to <br />ensure a quality development rather than allowing another municipality to <br />develop it at what could be a detriment to the City of Louisville. <br />Dennis Drumm, Vice President of R B Development, explained that his firm is <br />contractually involved in the commercially zoned land at Highway 42 and So. <br />Boulder Rd. Drumm stated that obtaining financing for projects in the City <br />of Louisville is very difficult at this time and placing the kinds of <br />constraints that the initiative proposes would cause an instability in the <br />Louisville market by not knowing whether a project can proceed or not. <br />Financing would become impossible for any developer. Drumm stated that <br />even if the initiative was not intended to be a no-growth proposal, it <br />would indeed become one. <br />Council Comments: <br />Sackett asked Judson if he knew how many residential units this Council has <br />approved. Judson responded by saying he thought 225 was the approved <br />number for this year with 160 having been issued. Mayor Fauson stated that <br />those numbers were incorrect. Hundley clarified that there is a difference <br />between permitting housing and approving houses to be built. These are two <br />separate matters. The City of Louisville has a program which would allow <br />400 houses if the market were there, which it clearly is not at this time. <br />This Council has approved no more than 50 new residential units. Any other <br />residential building permits issued this year were based upon residential <br />units approved by prior Councils. Hundley stated it is important to <br />understand the numbers that have been approved by this Council and the <br />permits that have been issued. <br />Sackett asked if Judson would be willing to identify those people who are <br />involved with COPE. Judson stated that he, Raymond L. Moore, Karen Olson <br />and other people were on the committee. Judson wanted to know how that <br />relates to the issue. Sackett responded by asking if the Hornbostles were <br />part of the group. Judson stated that they were. Sackett asked if Tom <br />Davidson was. Judson responded by saying yes. Sackett asked if Ann <br />Meredyth was. Judson responded by saying yes. Sackett asked if John Leary <br />is part of the group. <br />At this point there was disruption in the audience and Mayor Fauson asked <br />that the issue be gotten back to. <br />Sackett stated that there are "admirable goals in the petition. To avoid <br />over-crowding of schools is a good goal. To avoid saturation of the <br />housing market with new houses is also admirable. To avoid a water short- <br />age is certainly a very good goal. To limit the growth to the extent that <br />necessary and proper planning is allowed is also a good goal. I think that <br />this present Council is committed to these goals." Sackett cited a few <br />actions that Council has taken: 1) approved only 50 residential units in <br />this past year; 2) met with school officials to deal with the school <br />problem; and 3) initiated a plan to ensure both volume and proper pressure <br />of water. Sackett stated that he does not see that this Council could <br />necessarily be called a pro-growth Council "evidenced by our self imposed <br />restraint on encouraging or approving residential development at this time. <br />On the other hand this Council is a pro-growth Council in that we are doing <br />all we can to encourage and approve commercial growth." "Presently the <br />8 <br />