Revitalization Commission Agenda and Packet 2016 09 12

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Revitalization Commission Minutes August 8, 2016 Page2of5 Business Matters of Commission DELO Update Delo Plaza is coming out of ground. Core expected to be completed in the fall. Delo Phase I is continuing, half under construction. Apartment foundation have been started. RMCS is still working on financing for the commercial building. South Street gateway — BNSF was on the site but pulled off. We expect them to be back to put bridge on this month. TFI bonds - $3.75 sold - $1.1 million paid out. Commissioner Menaker said Delo Flats goes to Planning Commission on September 3rd. He suggests LRC members attend to give public support for the Special Review Use. Projects seem to be coming online more slowly than we anticipated. How does that affect out TIF? DeJong said the first townhomes hit the books next year. Hard to estimate when the apartments will be assessed. No timeline on the Arnold property. No confirmation on businesses for Delo Plaza. We have a contract with CDOT for signals at Short St. Downtown Parking Discussion DeJong gave a presentation on Downtown Parking. The presentation is included in the LRC packet. Potential sites for a parking structure are an issue. City owned lot attached to Delo cannot accommodate a parking structure. Randy Caranci asked if the City has inquired about obtaining property south of the Blue Parrot. The alley east of Blue Parrot — are there utilities there? That block could be utilized to build a structure. He suggested free parking in a structure and paid parking on the street to create new habits and patterns of drivers. Payment in lieu of parking was discussed. Parking fee in lieu is so low, Council may not approve plans for development because there is not enough parking, even with parking - in -lieu fees paid. Fee in lieu fees go into a parking fund. Commissioner Menaker said parking is an economic development issue and quality of life issue for neighborhoods. Downtown businesses are not doing great. The City has an unmet parking obligation because City has employees that have to park. Public - Private partnership is necessary.