Revitalization Commission Agenda and Packet 2015 04 13

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Revitalization Commission Minutes March 9, 2015 Page 2 of 3 Randy Caranci asked how do we know Lafayette does not have money to build soccer fields. City Manager Fleming said it is not on their capital fund list and they don't have money for it. Regarding DELO, Randy Caranci said he is not against the project. The commercial side of things concerns him in that it will impact Hwy 42 with no changes made to Hwy 42 to handle the impact. He feels the gateway into Louisville does not have any appeal. Feels that this look could affect the underpass. He is for the project, just feels it has the wrong look. Justin McClure reported that construction is moving along nicely. Project has been slowed by weather, however they are on pace getting improvements in place. Comcast update — they did send an email saying they have a cooperative agreement, they are scheduled for March 17 in front of City Council. The residential component is catalyzing commercial. BOOM Property update: all agreements are in place for BOOM property. Planning will receive packet in roughly 70 days. RMCS will propose mixed use. They hope to set level of quality on western part of parcel. Steve Fisher and Bob Tofte went to Planning Commission — it went smoothly. Staff and Justin were very prepared. Reports of the Commission: Commissioner Gorsevski said Littleton went to vote and Urban Renewal (UR) failed. This limits tools such as TIF and eminent domain. There was a grassroots organization behind it. Other bills out there from CCI, but nothing introduced yet. Historically eminent domain and UR have gone hand in hand. We have separated those items. UR can proceed without threat of eminent domain. We allow eminent domain but it requires 2/3 majority of City Council. Business Matters of the Commission — a. Update on Proposed Projects in the Urban Renewal Area: Economic Development Director Aaron DeJong discussed the items in the packet. The Grain Elevator could create TIF and it is going to Planning Commission soon. Chair Becker asked if there are other projects. Justin McClure said BOOM will be included in his projections. He feels DeJong's numbers are conservative. Mike Kranzdorf said $100 /sf seems very low. DeJong said what it cost to build versus what the County values property at are two different things. 1100 Pine Street increased in value but is not included because it is not new construction.