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<br />City Council <br />Meeting Minutes <br />July 7,2009 <br />Page 6 of 11 <br /> <br />pay $32,400 of the amount back to the City's Parking Improvements Fund to <br />account for the cash-in-Iieu value of the nine parking spaces to satisfy the <br />parking space requirements for Mr. Lehman's adjacent property at 901/917 Front <br />Street. Staff recommended approval of both the ordinance and resolution to <br />accomplish this purchase. Staff supported the acquisition of the parking lot for <br />the following reasons: <br /> <br />· The $82,400 asking price is discounted from true value. Boulder County's <br />current assessed value is $122,300. The improved property cost Mr. <br />Lehman $101,350, plus 10 years of holding costs. <br />· Public control of the sllte will ensure continuous future public use. <br />· When Mr. Lehman allows public use on his private property, he increases <br />his personal liability risk. <br />· The location is ideal for many public uses and provides downtown parking <br />for merchants and employees. <br />· Securing City control over the site will simplify negotiations with RTD when <br />the FasTracks station is constructed nearby. <br /> <br />Mayor Sisk requested public comment, and hearing none, closed the public <br />hearing. <br /> <br />COUNCIL COMMENT <br /> <br />Mayor Sisk supported and stressed the importance of the property acquisition of <br />834 Front Street to augment the Steinbaugh Pavilion. <br /> <br />ORDINANCE No. 1550, SEIRIES 2009 - AN ORDINANCE AUTHORIZING THE <br />PAYMENT OF CITY MONEYS FOR THE ACQUISITION OF REAL ESTATE <br />LOCATED AT 834 FRONT STREET WITHIN THE CITY OF LOUISVILLE _ 2ND <br />READING - PUBLIC HEARING <br /> <br />MOTION: Mayor Pro Tem Marsella moved to approve Ordinance No. 1550, <br />Series 2009 on final reading, seconded by Councilor Clabots. Roll call vote was <br />taken. The motion carried by a vote of 6-0. Absent: Councilor Muckle. <br /> <br />RESOLUTION No. 24, SERIES 2009 - A RESOLUTION APPROVING A <br />PURCHASE CONTRACT TO BUY AND SELL REAL ESTATE FOR THE <br />PURCHASE OF A PARCEL OF REAL PROPERTY LOCATED AT 834 FRONT <br />STREET WITHIN THE CITY OF LOUISVILLE <br /> <br />MOTION: Mayor Pro Tem Marsella moved to approve Resolution No. 24, Series <br />2009, seconded by Councilor Yarnell. Roll call vote was taken. The motion <br />carried by a vote of 6-0. Absent: Councilor Muckle. <br />