Revitalization Commission Agenda and Packet 2015 08 10

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SUBJECT: 550 MCCASLIN URBAN RENEWAL PLAN UPDATE DATE: AUGUST 10, 2015 PAGE 3 OF 3 The Urban Renewal Plan does not include any proposed changes to existing zoning, development standards or review procedures, density, design guidelines or other land use plans or regulations. Rather, the proposed Urban Renewal Plan provides that it will follow and seek to implement the Comprehensive Plan and small area plans developed and adopted by Planning Commission and City Council. NEXT STEPS: Under the Urban Renewal Law, the City Council decides whether to approve an urban renewal plan for a proposed urban renewal area. If a plan is approved, the Urban Renewal Authority is then authorized to undertake projects to carry out the plan consistent with the Urban Renewal Law, the plan and any related agreement, including in this case the City -LRC Cooperation Agreement. The LRC will need to develop a process implement the Plan should it be approved. COOPERATION AGREEMENT: The City and LRC are parties to a Cooperation Agreement which provides for City Council oversight and cooperation among the parties concerning activities of the LRC. The City and LRC first entered into a Cooperation Agreement in 2006. A copy of the current Cooperation Agreement is attached. The Cooperation Agreement applies to activities of the LRC generally, but was first entered into in conjunction with the adoption of the Highway 42 Urban Renewal Plan and some provisions are tied to provisions of that plan. Therefore, staff proposes some amendments to the current Cooperation Agreement, as follows: 1) Section 5.c and 5.d would be revised to confirm City Council approval is required for any redevelopment agreement or any sales tax TIF under any urban renewal plan. The current language is tied to the Highway 42 Plan. 2) Section 10 would be revised to clarify that provisions of the section — regarding continuing cooperation— apply to any urban renewal plan approved by City Council. 3) Section 16 would be amended to reflect that organizational documents (LRC Bylaws) have been revised; the Mayor is a member of the LRC. 4) Section 4.a would be revised to update the Costs and Expenses balance. Should City Council approve the Urban Renewal Plan, a request will come to the LRC to amend the Cooperation Agreement. ATTACHMENTS: 1. Draft Urban Renewal Plan 2. Current Cooperation Agreement LOUISVILLE REVITALIZATION COMMISSION 4