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12/4/84 <br />Page -10- <br />that: if the majority of the business commu:}_~.y <br />was not willing to make their commitment, <br />the broader picture of the proposed Capital. <br />Improvements should be done and not delayed. <br />Cour.~cilman Cussen also felt the majority <br />of t:he business community should make a <br />commitment; however did not favor delaying <br />the entire project and that the ordinance <br />should go to public hearing. <br />Russ Caldwell, Kirschner, Mr. Caldwell stated that in terms of the <br />Moore Bonding Co, timing of the downtown program if Council <br />decided to wait a couple weeks, they would <br />still be on time schedule. The latest dat~F: <br />that. they would need to have the election <br />passed to have that source of revenue as <br />a leverage piece was the third week in <br />February. He commented when we have a <br />real partnership trying to develop sometim~~~ <br />things don't get done well and they get <br />bogged down because things aren't made cle~.:_ <br />by those involved. He didn't think, as a <br />financial advisor to the committee and the <br />merchants of the City, that we have really <br />said what the City feels the merchant's <br />portion should be. The date - the third <br />week in February - was set to make the <br />decisions to commit to construction; have <br />funds; issue revenue bonds; to meet the con--~ <br />struction program to have maximum benefit <br />to the merchants - to have the least dis- <br />ruption and have them open for business <br />properly next summer., etc. <br />Tom Thompson, President Mr. Thompson addressed his comments to <br />Louisville Downtown Develop- Councilman Leary and stated everyone knows <br />ment Corp. how involved he has been in the downtown <br />redevelopment project. The reason the committee <br />isn't sitting here today with the Special Im- <br />provement District signed, sealed and delivered <br />is numbers. He sympathized with Mr. Leary's <br />frustration and stated that he wasn't certa~r: <br />himself if everybody was behind the project. <br />He concurred that the business community has <br />to carry its fair share, and LDC intends <br />to do that. Mr. Thompson asked for a little <br />more optimism and give them a week before <br />Council and their constiuents that they talk <br />to run away with this too far. He did believe <br />there was another side to this. He has some <br />