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authorisation for the Mayor to sign on behalf of <br /> the City. Mohr seconded. Unanimous. <br /> ONDINAJCZ 9483 - WASIBMBOUNa M lZXATIOM <br /> 2ND AMINO AND PUBLIC SZAAIMG <br /> Rautsnstraus read by title only Ordinance 6$$3, <br /> An Ordinance annexing to the City of Louisville, <br /> Colorado, a parcel of approximately 91.72 acres <br /> located adjacent to Cherry Street, in Section 17 <br /> which is owned by Klubert Wareabourg." The <br /> Ordinance was published in full in the Louisville <br /> Times March 19, 1986, and notice of Public Bearing <br /> published April 2 and 9. 1986. <br /> Mayor Fauson opened the Public Bearing. <br /> Wanush explained that the applicant is requesting <br /> annexation of approximately 92 acres of land. <br /> State statutes spell out specifically what <br /> criteria a property gust meet in order to be <br /> annexed to a City. Two key requirements are 1) at <br /> least ono-sixth of the property be contiguous to <br /> the City; and 2) •a community of interest" exists <br /> between the property and the city. This property <br /> has approximately 64$ of its boundary contiguous <br /> to the City. The State statutes define "a <br /> community of interest• in that the land is urban <br /> or will be urban or can be serviced in the near <br /> future. All those conditions can be met, <br /> according to Wanuah. City ordinances gust also be <br /> met in an annexation issue. This property is in <br /> the existing Comp Plan and is a residential <br /> request. The cost of service will not be excess <br /> because the land is surrounded on three sides by <br /> developed City of Louisville. The proposed toning <br /> is consistent with the surrounding developed <br /> areas. Storm drainage can be resolved and full <br /> water rights will be dedicated to the City. <br /> Fourteen acres will be dedicated to the City - a <br /> little more than the 12% required. The population <br /> generated by this proposed annexation is estimated <br /> at 900 people - approximately 73 elementary school <br /> children, 37 middle school children and 34 high <br /> school children as projected by the School <br /> District. The construction schedule is proposed <br /> at 70 units per year. Water rights on the <br /> property are approximately 178 acre feet at a <br /> value of $210,000. <br /> Wanush explained in detail the Fiscal Impact <br /> Analysis that Council received in their packets on <br /> First heading. After full build-out, there is a <br /> net operating deficit in the General Fund of <br /> 3 <br />