Planning Commission Agenda and Packet 2012 03 22

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Planning Commission Meeting Minutes February 23, 2012 Page 10 of 12 Russ stated the CC zone district allows a multi-family residential unit development as a special review use (SRU). Pritchard asked how many other owners own the remainder of the shopping center. Loftus stated there are two (2) owners plus the bank building owner. Pritchard asked if Loftus had approached the other owners about purchasing the other commercial properties. Loftus stated the Sullivan’s have only one year lease left and they are not sure if they are going to stay. Pritchard asked Bonnie Star, Economic Development Director, to discuss her understanding of the employment market for the area. Star stated there are companies wanting to come to Louisville and there are existing companies that are waiting to expand. Pritchard asked if there is adequate available housing for those companies to expand. Star stated that is a very important aspect when recruiting companies. They are looking for a broad range of housing types, so diversity is important. Pritchard asked what is being done to bring in other uses to this site. Star stated the City has worked closely with the brokers. There have been lengthy discussions with a Family Fun Center but they determined the site was not appropriate for their company. Jason Kinsey, Broker, stated they have pursued all types grocers for this site and no one wanted to move in. Pritchard asked Star to explain a Tax Increment Financing (TIF) and how it works. Star explained the TIF program is a Colorado State managed program. The difference in collected tax money from the current base level to the level of collected money after development is dedicated to the Urban Renewal Authority and under the direction of City Council is to be spent in the revitalization area. Brauneis stated a concern with the height and did they consider underground parking. Loftus stated the price point would increase if underground parking where part of the plan. The existing parking garage is what has created the price point. Brauneis inquired about architectural details of the north side of the building because of his concern for how the buildings will look for the neighbors. Staff discussed the elevations presented in the meeting packet. Brauneis asked if the height was lower, what would be the options for architectural features. Mulhern stated if the height is less than proposed then the features are less interesting. Also, a luxury apartment incorporates a higher ceiling.