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C ityo, <br />isvil e <br />1878 <br />LOUISVILLE REVITALIZATION <br />COMMISSION <br />SUBJECT: <br />DATE: <br />FUTURE PROJECTS DISCUSSION <br />JANUARY 12, 2015 <br />PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT <br />SUMMARY: <br />The LRC now has revenues exceeding expenses and is in a position to begin thinking <br />proactively about projects and investments that will advance the mission of removing <br />blight and encouraging redevelopment in the Urban Renewal Area. The commission <br />would like to brainstorm possible opportunities that align to this mission. <br />BACKGROUND: <br />The 2015 LRC budget has an ending fund balance of $54,400 that is unobligated for <br />debt repayment or payments on assistance agreements. Attached are staff's <br />projections of future revenues and expenses. Each future budget year will have <br />$300,000 in unobligated revenues should development occur as estimated. The <br />assumptions and projections are attached. <br />DISCUSSION: <br />Section 4.1 of the Urban Renewal Plan gives guidance to LRC's mission. It states, <br />"The vision for revitalization of the area is creation of high quality developments which <br />integrate a range of residential and non-residential uses supported by strategic public <br />improvements to facilities, parking, and infrastructure improvements within and adjacent <br />to the Plan boundaries. A combination of uses is proposed all of which will further <br />promote redevelopment of the Area as an enclave with densities comparatively higher <br />than other existing residential neighborhoods in the community." <br />Attached is a map of the Urban Renewal Area to assist in the discussing potential <br />projects or investments. <br />RECOMMENDATION: <br />This memo is for discussion purposes. <br />LOUISVILLE REVITALIZATION COMMISSION <br />28 <br />