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11: City,/ <br />im Louisville <br />COLORADO • SINCE 1878 <br />CITY COUNCIL COMMUNICATION <br />AGENDA ITEM 2 <br />SUBJECT: <br />DISCUSSION/DIRECTION — FINAL MARKET ANALYSIS, INPUT, <br />AND SCENARIO PLANNING FOR MCCASLIN AREA <br />DEVELOPMENT STUDY <br />DATE: NOVEMBER 13, 2018 <br />PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT <br />ROBERT ZUCCARO, PLANNING AND BUILDING SAFETY <br />DIRECTOR <br />SUMMARY: <br />The City contracted with Economic & Planning Systems (EPS) to conduct the McCaslin <br />Area Development Study. EPS, along with Trestle Strategy, will present their market <br />research findings, regulatory document review, ongoing received input, and <br />development scenarios intended to be analyzed. <br />BACKGROUND: <br />City Council approved a contract with Economic & Planning Systems (EPS) on July 18, <br />2018 to conduct the McCaslin Area Development Study. The contract was approved <br />through an RFP process that began on May 15, 2018. <br />The McCaslin Area Development Study covers a subarea of the McCaslin Boulevard <br />corridor bounded by McCaslin Boulevard on the west, Cherry Street on the north, Dahlia <br />St. on the east, and Dillon Road on the south. Central to the study is the former Sam's <br />Club property at 550 South McCaslin Boulevard. The property has been mostly vacant <br />since the store's closing in early 2010 and currently has two tenants, Ascent Church <br />and Low Cost Furniture. <br />The City Council stated goals of the Study are to; <br />• Understand the McCaslin area's potential for retail and commercial development <br />and supportive uses that could foster new investment and development, <br />• Review the rules and regulations upon properties in the area that may be limiting <br />its full potential for redevelopment, <br />• Understand and incorporate the property owner's, tenant's and public's input into <br />development and redevelopment options for the area, <br />• Evaluate various development scenarios, that focus on retail and commercial <br />uses with possible residential development only as a secondary use, that meet <br />market potential and provide exceptional fiscal benefits for the City by meeting <br />or exceeding past tax revenue performance for the area, and <br />• Provide recommendations for regulatory changes or other actions that could <br />create more certainty for the development community that encourages <br />redevelopment. <br />COUNCIL COMMUNICATION <br />