Revitalization Commission Agenda and Packet 2014 04 14

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Revitalization Commission Minutes March 10, 2014 Page 2 of 5 Public Comments — none Reports of the Commission: • Tri -Party Agreement Update — Economic Development Director Aaron DeJong has had no response from the County and will move forward • Chair Becker asked for an update on Quiet Zones. City Manager Fleming said Deputy City Manager Heather Balser will provide an update at a future meeting. Mayor Muckle said federal agencies will reopen the rule and are looking for comments to make the rule more efficient. • Chair Becker asked City Attorney Sam Light if a bond underwriter should come to a meeting. Light said he does not think it is necessary. Business Matters of the Commission — a. Engagement Letter with Butler Snow: • The files have been transferred from Sherman & Howard to Butler Snow. Butler Snow has produced an engagement letter and the same terms as with Sherman & Howard will apply. Chair Becker asked if we are ok with the limitations of the agreement and the Commission affirmed. • There was discussion on the fees and that specific projects and specific rates were not mentioned. Also, the bond delivery trigger date of June 30, 2014 was discussed. Do we have any risk? Attorney Light said fees are typically paid as a percentage of the bond and asked if the LRC would prefer a flat fee. Rates can be as high as $500 /hour. DeJong was asked to clarify rate and closing date with Butler Snow. b. Resolution 14 -01, South Street IGA Amendment: • Attorney Light said the LRC needs to decide if they want to adopt Resolution 14- 0lamending the Cooperation agreement between the City of Louisville for the Highway 42 Revitalization Area Gateway project, extending the termination date to November 1, 2014. • Commissioner Menaker made a motion to approve Resolution 14 -01. Motion passed unanimously. c. South Street Gateway Sign: • There was discussion regarding the proposed sign announcing the Gateway Project. • Commissioner Gorsevski thought having "Access to future train station" may be a lightning rod. • Commissioner Menaker thinks the sign needs to be large and mention of train station needs to be removed. • Chair Becker also thinks mention of the train station needs to be removed.