City Council Minutes 1999 12 07 - Laserfiche WebLink

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Davidson called for the Downtown Business Association presentation. Cheri Ruskus, Executive Director of the Downtown Business Association, explained that she will be stepping down and requested that the presentation be turned over to Ronda Grassi, President of the Downtown Business Association for 2000. Ronda Grassi explained that she is requesting seed money to establish a Business Improvement District for downtown Louisville. She thanked Council for the support they received in accepting the Progressive Urban Management Association's proposal. She explained that the document contains great ideas and recommendations for moving forward. She stated that the Downtown Business Association supports these ideas and recommendations. She explained that the Business Improvement District would allow the businesses to tax themselves. She agreed that forming a Business Improvement District would take a great deal of effort and money. She explained that the Downtown Business Association has approached several financial institutions for funding, with no success. She stated that the Downtown Business Association needs seed money in order to proceed with any plan, and that they are asking for $45,000 to set up the Business Improvement District and move forward. She explained that there are numerous expenses involved to set up the Business Improvement District, including the cost for an Executive Director to work fifteen to twenty hours a week. She gave an overview of what the funds would be used for and explained that they have received donations for office space and furniture, computers, software, etc. She stated that the benefits to the City for providing the funds are numerous, as the Business Improvement District would keep the City out of the parking business and allow the Downtown Business Association to be a marketing tool and a resource for downtown businesses. She stated that the Business Improvement District would be good for all of Louisville. She stated that the citizens of Louisville responded to a survey this summer and indicated they would like more restaurants, services, and retail in downtown Louisville. She explained that if the sales tax revenue increase of fourteen percent continues, the City would collect more than $50,000 in additional revenue in one year. She felt that the Business Improvement District would allow the downtown business owners to help themselves. She reminded Council that Flatirons Mall would be opening in August 2000 with 1.5 million square feet of retail and restaurant and service space. She explained that the mall would include a shopping village with an outdoor atmosphere for people to enjoy their shopping experience yet downtown Louisville already provides that. She stated that these goals are only possible to attain with the seed money to form a Business Improvement District. She explained that the private sector is financially engaged and encouraged Council to also become involved and support the Downtown Business Association's request. She offered to answer any questions. Lathrop expressed support for the Downtown Business Association. He asked when the election would be held for the Business Improvement District. Grassi replied November 2000.