Mayhoffer / Kerr Estate Development, Boulder County

Here's a quick run down from the Mayhoffer / Kerr Estate development:

  • There will be 5 lots, each over 35 acres in size, so they are use-by-right (they don't need any approvals or variances to develop the land, and the developer only needs to record the deeds).
  • The developer hasn't closed on the property yet. They are under contract, but wouldn't disclose any specifics (closing date, purchase price, etc...)
  • House sizes have not been determined, but they are trying to figure out where the building envelops will be (where the houses will be placed on each lot to preserve view corridors and what not for the other lots).
  • Each lot will be on well and septic, not City water.
  • Developer has been in discussions with the County and Louisville/Lafayette for about two years.
  • There was an attempt to do a cluster of homes and leave the rest as open space, but they didn't get "traction" from the City (he said Louisville said no to that one)
  • Repeated that the Mayhoffers can't remain stagnant on this land for much longer and deserve some economic benefit for their property.
  • Folks asked about saving the wild life in the area, and he said they have had environmental and geotechnical surveys and reports done.
  • It is "uncertain" whether or not the original farmhouse will be destroyed or preserved.
  • Access will be off of the "curvy" Empire Rd
  • Lot 3 has the farmhouse
  • Lot 5 is where the fracking site would be, on the eastern edge of the lot it seemed when he gestured vaguely (which of course upset all of the folks living directly to the east)
  • Boulder County guidelines and the HOA they develop will determine what happens outside the building envelope in terms of landscaping.
  • The mineral rights are very valuable and a big part of the value of the property and he would likely sell them to allow for fracking.

Malcom Flemming (City Manager for Louisville) was there and said that the City has been talking with them for a few years and that the difference on values is that the city can only have an appraisal done on the current land zoning of Agricultural, which leads to a certain number that they consider market value and they have offered to the Mayhoffers. The developer is able to construct their value based on residential zoning and the benefits of the mineral rights, and is able to offer more, which is what the Mayhoffers accepted. So the City did try to buy it for open space, but can't offer the amount to match the developers, and they can't change their appraisal guidelines as they are currently in negotiations with properties all over and that could cost the City millions if the other land owners caught wind that they were giving the Mayhoffers more than market value based on current land use.