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along with furthering the goals and objectives of the Louisville Comprehensive Pan; <br />Highway 42 Framework Plan and other relevant policies, while leveraging the <br />community's investment in public improvement projects in the Area. <br />In addition, proposed projects must address at least several of the objectives outlined in <br />the Plan. Those objectives include: <br />A. Eliminate and prevent blight <br />B. Improve relationship between the URA and surrounding areas <br />C. Increase property values <br />D. Provide uses supportive of and complementary to planned improvements <br />E. Encourage a mix of uses and/or mixed -use projects <br />F. Promote a variety of products to address multiple income segments <br />G. Provide ease of vehicular and pedestrian circulation and improve connections <br />H. Encourage continued presence of businesses consistent with the plan vision <br />I. Provide a range of financing mechanisms for private property re -investment and <br />investment <br />J. Mitigate impacts from future transportation improvements <br />K. Encourage public -private partnerships to implement the plan <br />L. Adjust parking ratios to reflect future densities <br />M. Encourage shared parking among projects in the area <br />N. Develop higher design standards including flexible lighting and signage <br />standards <br />O. Landscape streetscapes to unify uses and plan components. <br />As specifically related to the use of property tax increment financing, a proposed <br />project must clearly demonstrate that the project will provide the clear and present <br />potential to generate substantial increases to the property tax values directly <br />attributable to the project which could support the sharing of the incremental <br />property tax increments between the property owners and the LRC. <br />Criteria for Evaluation <br />After a property owner submits an application for property tax increment rebate <br />assistance, the project will be evaluated on criteria that include, but are not limited to: <br />1. The ability to stimulate growth and reinvestment in the URA <br />2. The elimination or prevention of blight in the URA <br />3. The magnitude of positive effect caused by the project <br />4. The need for public assistance to complete the project <br />5. The economic benefits to the community from the project <br />6. The effect of the project on surrounding property <br />7. The increase in property value created from the project <br />In addition to the criteria listed above, the LRC will give special consideration to projects <br />that will also provide potential sales and other forms of tax revenue increases to the City <br />2 <br />