City Council Agenda and Packet 2018 08 28 SP

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SUBJECT: MCCASLIN AREA DEVELOPMENT STUDY DATE: AUGUST 28, 2018 PAGE2OF2 The McCaslin Area Development Study process and final recommendations should take into account the following principles that are of importance to the City of Louisville and Louisville City Council: • Identify emerging markets and retail trends that will result in market supported development scenarios and that ensure the corridor continues to serve as the City's primary retail sales tax base. • Identify and evaluate development restrictions and regulatory and policy barriers to redevelopment and investment in the corridor. • Ensure sustainable long-term fiscal health of the City and economic development of the McCaslin corridor by ensuring new development has an exceptional fiscal benefit to the City. • Reflect residents' desired community character for the corridor in evaluation of development scenarios and study recommendations. DISCUSSION: EPS and Trestle have prepared the attached presentation to outline the intended research, engagement, and scenario development processes. They are breaking the project components in to three main steps, which are: • Step 1 is researching the regulatory framework and perform the market analysis for the area. • Step 2 is the community engagement component to engage stakeholders, community groups, residents, employees, and visitors. • Step 3 is developing scenarios and recommendations for implementation. The scenarios will be based on the market analysis and input. EPS's presentation goes into each step in greater detail and will be presented at the August 28, 2018 meeting. RECOMMENDATION: Staff and the consultants are seeking discussion/direction related to the intended McCaslin Area Development Study process. Staff is requesting Council input early in the process, and prior to initiating the project to ensure that Council direction can be incorporated from the beginning. This direction will help ensure that the steps taken will yield the necessary amount and type of data, analysis and engagement to make thoughtful decisions regarding the study recommendations. ATTACHMENTS: 1) EPS Presentation COUNCIL COMMUNICATION