Revitalization Commission Agenda and Packet 2015 05 11

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Revitalization Commission Minutes April 13, 2015 Page 3 of 5 DELO Plaza was denied by Planning Commission but is going before Council April 21st. If the project can gain staff support, McClure would like LRC support. Reiterated that the changes are happening now and will be very positive. DELO has submitted horizontal construction approval. It is a tight timeline. Believes can complete the residential portion within 12 months. Hoping to maintain pressure on BNSF to get project moving for South Street Pedestrian Gateway. c. South Boulder Road Small Area Plan Update: Troy Russ reviewed the powerpoint included in the packet. Looked at reasonable density changes. The term mixed use has changed; now it is giving flexibility. Planning intends to show Council the full spectrum of what the survey said. Planing will ask Council to consider the range of alternatives. Planning will consider parking, traffic, fiscal, etc. to get meaningful data. Probably what will emerge will be a hybrid of all 3 alternatives. Commissioner Gorsevski suggests adding a map of the current state of South Boulder Road. d. Urban Renewal Legislation Update: Deputy City Manager Heather Balser reported that: House Bill #1348 has been introduced. The bill has language similar language to a bill introduced in the 2014 -15 legislative session. It first suggests municipalities sit down with the impacted taxing entities to determine if an agreement can be reached regarding TIF revenue allocations. If an agreement can't be reached then the bill defines the percentage of property tax revenues allocated to the URA to be no more than the percentage of municipal sales tax increment allocated to the URA. Louisville has a revenue sharing agreement with County on TIF currently so not sure how the bill would impact future amendments and the current agreement. Louisville will continue to have conversations about the bill. The Colorado Municipal League (CML) will oppose the bill. The bill was vetoed last year by the Governor, not sure it will be vetoed again. There is a 120 day negotiation period for an agreement and then the percentages apply in the absence of an agreement. Staff has concerns with the language in the bill on modifications to the plan and how that would apply to the LRC. HB # 1348 if passed by both the Senate and House and signed by the Governor would go into effect Jan. 1, 2016. Commissioner Menaker requested staff bring back to the next LRC meeting any updates on the bill as well as any potential actions that should be taken by the 4