Revitalization Commission Agenda and Packet 2014 01 13

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Revitalization Commission Minutes December 9, 2013 Page 2 of 4 Public Comments — none Reports of the Commission: Chair Becker will invite other Commissioners to a future LRC meeting. Business Matters of the Commission — a. PUBLIC HEARING — 2014 LRC Budget: • This Public Hearing has been posted in the Daily Camera • City Council has acted on preliminary 2014 Budget • Chair Becker opened the Public Hearing. • Public questions on budget? — none • Public hearing was closed b. ACTION — Approval of Resolution 13 -04; 2014 LRC Budget • Motion was made to approve Resolution 13 -04. By affirmation, the Resolution was approved. Because this is a quasi - judicial matter, the Mayor left the meeting. c. DELO PUD Referral: • Because this is a quasi - judicial matter, the Mayor left the meeting. • The project has run into financing challenges • Project was slated for 244 residential units; the new submittal has 194 units at an average of 1150 sq ft. per unit. • Townhome number is now 55 units. • There will be an increase in office space; the expectation is that there will be 2 — 3 users in 30,000 sq ft. • These changes will impact TIF revenue • Train noise will need to be mitigated and DELO asked for support for that from LRC • The question was asked: what happens regarding parking with the change to project? At this time that is unknown. It will be a challenge to meet the requirements and DELO has approached the City for assistance in additional parking. They are meeting with architects to see if they can pick up spaces. • They feel confident there is a demand for commercial space. This follows a trend that shows people want to work near urban centers. • 72 parking spaces are needed for 30,000 sq ft of commercial space. • Chair Becker asked: what are the factors used to determine mix of residential and commercial? Answer: the market is dynamic; they will build and adjust. They are trying to create a market using livability and walkability.