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<br />City Council/Planning Commission <br />Special Meeting Minutes <br />June 20, 2005 <br />Page 3 of 9 <br /> <br />Retail/Commercial Property: Preserving large inventories of land for future retail <br />and commercial development, recognizing that the current market may require <br />these parcels to be developed at a later time. It was recommended that the City <br />establish development strategies that encourage these large parcels to be <br />developed in a manner that maximizes their potential by supporting what has <br />been termed "activity centers" and "destination venues" as part of their overall <br />development strategies. Development should include more than a pure retail or <br />commercial component. It should include opportunities for recreation, cultural <br />events, and other community gathering activities. "Activity Centers" in retail and <br />commercial development is central to current urban planning and community <br />planning strategies and becomes a central theme in the development of <br />Louisville's last remaining large parcels of retail and commercial parcels. <br /> <br />Residential: The Planning Commission did not favor including a residential <br />component into large retail and commercial developments. It was their belief that <br />small amounts of scattered residential growth throughout the City in commercial <br />and retail dominated areas would not be large contributors in the success of <br />small retail businesses. The Commission was concerned that residential <br />development in these areas would have negative consequences of dividing the <br />cohesiveness of neighborhoods and scattering the residential populations <br />causing transportation and additional City service burdens. <br /> <br />Community Infrastructure: The Planning Commission's greatest concern was the <br />City's roadways. Additional traffic demand would result from "background" <br />vehicle trips, which would have little to do with Louisville's growth. Wise and <br />timely improvements to the city's transportation networks will be required, with or <br />without additional growth of Louisville's population. <br /> <br />Financial Forecasting Model: The Planning Commission believes the financial <br />models were consistent with the City's financial operating requirements and is <br />comprehensive and recognized the appropriate fixed and variable costs resulting <br />from growth. However, there are inherent limitations of any financial model that <br />forecast expenses and revenues over a 20-year period of time, and therefore, <br />should be viewed as a tool for evaluating comparative growth scenario purposes, <br />and not as a tool to firmly predict the 20-year financial outcomes of any particular <br />growth policy. Testing results of growth recommendations reveal over a 20-year <br />period of time, the City would generate a $4 to 5-million cumulative operating <br />surplus and a $100,000 dollar cumulative capital deficit. The City has discretion <br />to make adjustments to the schedule of fees and taxes for new development in <br />order to ensure growth pay its own way. <br /> <br />Seven Opportunity Areas included in the Framework Plan: <br /> <br />Area 1 - North Louisville Area: The Planning Commission recommends new <br />housing and increased density up to 752 new residential units. <br />