Revitalization Commission Agenda and Packet 2019 04 08

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Revitalization Commission Minutes March 11, 2019 Page 3 of 8 building. Were there additional applications following these original applications? DeJong is unsure though thinks others in Louisville may seek this assistance if desired to assist projects similar to this one. Applicant Dave Sinkey of Boulder Creek Neighborhoods spoke. He appreciates LRC's patience. He gave a brief history of Boulder Creek Neighborhoods. They have grown to 85 employees. 35 people are downtown every day with field operations people coming to meetings weekly. They own 4 buildings downtown and have a strong desire to be downtown and remain downtown. He feels they are good corporate partners. He acknowledges they bring people downtown who also park downtown. Believes growth should happen downtown. Sinkey stated Boulder Creek Neighborhoods has grown significantly and desires to be in one building to continue its growth. Boulder Creek is using retail space as office space. Believes Louisville would benefit from them growing downtown. Dynamics of connecting retail, restaurants and office space. In the previous design for the Terraces project, they designed with as few waivers as possible. They received mixed feedback from Council and did not got approved. They removed the 3rd story and parking garage from the design. Would like to move forward with this new design and hope to get approved by Council. He noted that Lafayette is using TIF aggressively. Boulder Creek Neighborhoods is working in Lafayette. Impacts of this decision will be felt in both directions. There will be a desire to increase density to make costs work. There is a lot of pressure on construction costs. He addressed the question about community impact by saying they are grappling with whether they can stay downtown. They contribute to Street faire. He brings people from around the state to Louisville restaurants. Commissioner Comments and Questions Commissioner Lathrop asked if the intention if for the main floor to be retail? Sinkey said yes but they don't want to be restricted to retail on main floor. Commissioner Lipton said the interesting component is retail as it adds sales tax. Sinkey said financing is more difficult when uses are limited beyond the zoning for the property. Space will be designed for retail on main floor and upper floor will be designed for office and this is Boulder Creek Neighborhood's preferred use.