City Council Agenda and Packet 2018 11 13 SP

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SUBJECT: MCCASLIN AREA DEVELOPMENT STUDY DATE: NOVEMBER 13, 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. On October 16, 2018, EPS and Trestle Strategy presented a preliminary market analysis and summarized feedback received to date from area property owners, interest groups and other submitted input. EPS and Trestle have prepared the attached presentation for the November 13, 2018 meeting to report on their market analysis findings, regulatory document review, and additional input received through various platforms. The presentation also outlines the various development scenarios slated for future development proforma and fiscal analyses. RECOMMENDATION: Staff and the consultants are seeking input related to the final market analysis findings, public, business and owner feedback, and discussion/direction related to the intended development scenarios for further analysis. ATTACHMENTS: 1) EPS Presentation COUNCIL COMMUNICATION