Laserfiche WebLink
Revitalization Commission <br />Minutes <br />June 11,2018 <br />Page 2 of 3 <br />Commissioner Menaker expressed the importance on preserving a land swap for <br />voltage project and finding an optimal footprint for structured parking on land the <br />city already owns. Project to be further discussed in future meetings. Also, some <br />of the landscaping at the pedestrian gateway has died and should be addressed. <br />Business Matters of Commission <br />DELO Update <br />Justin McClure is out-of-town. Economic Development Director DeJong provided <br />an update stating that occupancy will take place mid -month on 3rd floor. <br />Discussion are ongoing with potential restaurant tenants. <br />Parking Structure RFP Update <br />Economic Development Director DeJong acknowledged they received 4 <br />proposals for the conceptual design RFP and the top two proposals were <br />interviewed on May 31, 2018. The review team requested additional tasks to <br />complete prior to moving forward with the preferred proposal to a contract for <br />LRC and City Council Consideration. It's anticipated a contract for consideration <br />will be finalized by June 15, 2018. <br />Chair Steve Fisher made a motion to hold a "parking structure contract" special <br />meeting, should a contract come through. All were "in favor" for a meeting on <br />June 20, 2018 at 7:30 am, in the Library conference room. <br />McCaslin Area Development Study Update <br />Economic Development Director DeJong provided an update for the McCaslin <br />area study stating 5 RFP's were received and a team is in the process of <br />reviewing these. <br />TIF Revenue Model: <br />Economic Development Director DeJong noted that staff has updated the TIF <br />Revenue Model to factor in the 2018 mill levies, property valuations, and updated <br />expected delivery of projects approved, but not yet started and/or complete. <br />Notable changes to the model include: <br />1. Delivery of first component Coal Creek Station Project in 2019 for <br />valuation Jan 1, 2020, for taxation 2021. <br />2. North End commercial first delivery in 2019 for valuation Jan. 1, 2020 for <br />taxation 2021. <br />3. Increase staff contribution to $60,000 for 2019 budget year. We expect to <br />be needing additional resources to conduct LRC activities. <br />Notable Items: <br />1. Assuming no new financial commitments, 2019 estimated unencumbered <br />revenue is $820,000. <br />