Revitalization Commission Agenda and Packet 2014 02 10

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Revitalization Commission Nlinutes January 13, 2014 Page 3 of 4 • Chair Becker asked how DELO changes will affect TIF. DeJong replied that there are less units than anticipated • The TIF picture is still generally the same as the model of 6 months ago. • The Tebo parcel is assumed to be redeveloped with 35,000 sf of commercial space in 2016. • Question was asked if the valuations for the former County offices are in the model. They are not, as Attorney Light clarified that TIF is on taxable new construction. • DeJong changed mill rate to reflect the current approved levy. • Rick Brew reported that commercial valuation will be higher than the $60 value for some projects in the model. • DELO is considering changing their development plans to include a detention pond, which is needed to remedy on -site storm water concerns. Future options exist for an off -site detention solution, but is beyond the development timeframe for DELO. Commissioner Menaker raise the concern that developable land is be taken out of production' because of the detention needs. The topic discussion ended because it is getting out of the posted agenda topic. • Chair Becker asked for an update at the next LRC meeting. • Commissioner Menaker asked if the project will get relief from the flood plain requirements. DeJong replied that is a Planning function. • Commission asked for an executive summary with assumptions at the next meeting. • Commissioner Fisher asked about taking the project to the bond market. Menaker replied it is not going to bond market. f. 931 MAIN STREET PUD REFERRAL: • Mayor recused himself. • LRC discussed the property at 931 Main Street being expanded with an new 2850 sq ft building and would be accessed by the alley. • Commissioner Menaker asked if this triggers a parking requirement. DeJong noted that it would require 5 parking spaces • Commissioner Tofte noted that it is in the CC zoning so LRC will face this request more frequently. Longmont has alley integrated into business entrances. DeJong will refer parking to Planning. • Commissioner Lathrop reminded everyone that the LRC referral needs to reflect LRC issues: parking is a valid LRC issue. Public Comments: • None Commissioners' Comments — • None