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City gat <br />Im Louisville <br />COLORADO • SINCE 1878 <br />LOUISVILLE REVITALIZATION <br />COMMISSION <br />SUBJECT: <br />DATE: <br />POTENTIAL TIF PROJECTS <br />SEPTEMBER 12, 2016 <br />PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT <br />SUMMARY: <br />The 2017 LRC Budget must be approved prior to the end of 2016. Staff would like the <br />Commission to discuss potential projects for consideration of funding in 2017. <br />BACKGROUND: <br />The 2017 LRC Budget year will continue to see revenues increase with property <br />assessments and redevelopments continuing. Attached is a slightly modified staff <br />developed TIF model from 2015. The County has not provided valuation estimates for <br />taxes payable in 2017 and the model will need to be updated when that information <br />becomes available. Several projects will change from estimated increases to actual <br />increases including; Centre Court Apartments, DELO Phase 1, DELO Plaza, North End, <br />and potentially portions of DELO Phase 2. <br />Current estimates for unencumbered funds available in 2017 is approximately <br />$300,000. This figure will be refined as staff receives more information from the County <br />and progress on development projects. <br />LIST OF POTENTIAL PROJECTS: <br />Historic Grain Elevator <br />The redevelopment of the parcel has needed public infrastructure upgrades. The <br />upgrades will be identified in an approved PUD. The design is scheduled to go in front <br />of City Council on May 19, 2015. <br />Coal Creek Station <br />The owners have received PUD approval for the redevelopment of the property into <br />approximately 30,000 sf of retail/office space and 51 housing units consisting of <br />duplexes and tri-plexes. No application has been received requesting assistance. <br />Pine Street Plaza <br />Being at the entrance of downtown and the Urban Renewal Area, Mike Kranzdorf may <br />have a desire to redevelop the property. Public infrastructure complicates the property, <br />making a redevelopment more difficult. <br />Addressing impacts to existing neighborhoods <br />With redevelopment projects progressing, the surrounding neighborhoods may <br />experience impacts relating to changing travel patterns, additional uses, and increased <br />LOUISVILLE REVITALIZATION COMMISSION <br />