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Revitalization Commission <br />Minutes <br />March 11, 2019 <br />Page 4 of 8 <br />Commissioner Gorsevski asked if Sinkey could give a retail example. <br />Restaurant and other businesses that fit within zoning. The type of shop is <br />important to generate sales tax. Sinkey said a recession could reset costs. <br />However, their view is long term not just next couple of years. <br />Commissioner Adler asked if they have been approached by potential tenants. <br />Sinkey said there is no visibility into timing for the development so they are not <br />talking to brokers. Commissioner Dalton said development in Louisville is slow, <br />long and expensive. <br />Public Comments <br />Mike Kranzdorf asked if it is their intention to stay downtown. Sinkey said the <br />current building just accommodates them, but growth will be challenged. They <br />have looked at buying other buildings to use during a transition. If this project is <br />approved, they will reevaluate everything. Kranzdorf would hate to see Boulder <br />Creek Neighborhoods leave downtown. Kranzdorf said he supports the project. <br />Rick Kron said the DBA supports this project and the effect it will have on <br />eliminating blight downtown. He said the one thing we have seen demonstrated <br />is people don't want big projects; this project's scale fits downtown. He said this <br />is a 10 year deal; once the rebate is paid there is another 40 years of tax <br />revenues. He urges the LRC to approve the project. <br />Erik Hartronft said he works with the City of Lafayette. There are a dozen <br />projects going on using TIF. He said our neighbor is drawing our tenants and <br />actively courting businesses to core area. Louisville is not competing very hard. <br />This creates long term tax revenue. <br />Commissioner Dalton said subsidizing business is slippery. However that is not <br />the environment we live in. We created this tool for exactly this. Inasmuch as <br />we have the tools, he believes the LRC should send the agreement to the <br />Council. He said the LRC needs to approve and send to Council. He <br />encourages everyone to vote yes. Let Council decide. <br />Commissioner Lathrop said he feels responsible for getting this "cranked up." <br />He said the LRC has always used money given for infrastructure. In January he <br />was uncomfortable. He said he has been in business in Louisville for 30 years <br />and what he is hearing is that we are on an unfavorable trend — economically <br />and politically. The LRC needs to help send a message to the business <br />