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Revitalization Commission Agenda and Packet 2019 04 08
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Revitalization Commission Agenda and Packet 2019 04 08
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RCPKT 2019 04 08
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Revitalization Commission <br />Minutes <br />March 11, 2019 <br />Page 2 of 8 <br />2. Public restrooms <br />3. Information kiosk <br />4. Create active children's' play area <br />Welcome to New LRC Commissioner — Alexis Adler <br />Chair Fisher welcomed Commissioner Adler <br />Reports of Commission <br />None <br />Business Matters of Commission <br />• Resolution 19-01: A Resolution approving the Property Tax Increment <br />Rebate agreement with 712 Main LLC and 722 Main LLC, 2 -3 stories, 22,000 <br />sf. <br />Staff presentation <br />DeJong presented main details of project. It is a redevelopment of 712 and 722 <br />Main into an office and retail building of approximately 22,000 sf. <br />This is the first application seeing direct financial assistance for a <br />redevelopment. <br />Staff analysis determined the project addresses the following: <br />• Removing blight — Unusual topography or inadequate public <br />improvements, danger to life or property from fire or other causes, faulty <br />lot layout in relation to size, adequacy, accessibility or usefulness. The <br />applicant also sited deteriorating structure and deterioration <br />• Effect on property values — The project will significantly increase the <br />value of the property through its redevelopment. <br />• Advancement of urban renewal area <br />• Need for financial assistance - <br />DeJong provided examples of other TIF projects. Mayor Pro Tem Lipton asked <br />for examples from cities the size of Louisville; 15,000 — 25,000 population <br />Commissioner Adler asked for community impact as a result of the projects. <br />DeJong pointed out that, as an example, Colorado National Bank was a vacant <br />
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