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LCityof <br />Louisville <br />COLORADO • SINCE 1878 <br />LOUISVILLE REVITALIZATION <br />COMMISSION <br />SUBJECT: <br />DATE: <br />DELO UPDATE <br />AUGUST 8, 2016 <br />PRESENTED BY: AARON M. DEJONG, ECONOMIC DEVELOPMENT <br />SUMMARY: <br />This memo is to give an update on the main projects commencing within the Core Area <br />of the redevelopment area. <br />DISCUSSION: <br />DELO Plaza <br />The retail strip project is under construction and core and shell is expected to be <br />complete in the fall. <br />DELO Phase 1 <br />Boulder Creek continues on the townhomes. Approximately half of the units are either <br />complete or under construction. <br />DELO Phase 2 <br />The foundations for the residential building are underway. Coordination for the public <br />infrastructure is ongoing among RMCS, the City, and the general contractor, H2 <br />Development Services. <br />South Street Gateway <br />The BNSF started work in July, but the crew assigned to the work was reassigned to <br />other required work. The expectation is for the crew to come back in late August to <br />complete their work. The bridge is sitting on site, and the main component left to <br />complete is sinking the bridge upon the foundation piers, weld them together, and then <br />rebuild the track on top of it. <br />TIF Bonds <br />To date, $3,750,000 of the total $4,500,000 bonds have been sold. Through Pay <br />Request #10, $1,095,271.43 has been paid for work completed. The remaining <br />$750,000 in bond allocation will be sold with the loan closing for the commercial building <br />project. <br />LOUISVILLE REVITALIZATION COMMISSION <br />6 <br />