City Council Minutes 2019 05 14 - Laserfiche WebLink

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City Council Meeting Minutes May 14 2019 Page 6 of 7 might make sense to help some projects based on certain criteria and principals. He would like to see information about how similar sized communities have used TIF well Councilmember Stolzmann would like to know what impacts funding from the City might have on the surrounding areas. Staff should gather that information so we have enough information to make decisions, what to look for and what to avoid in using TIF To facilitate the conversation on policies we need some research from staff Mayor Pro Tem Lipton would like a discussion of what the goals are so the Council can build principals around the goals. Director DeJong stated in looking at direct financial assistance we generally determine if it is a use we need in the area To switch that from "need" to "want" would affect the principals and criteria we choose and the analysis of an application Councilmember Maloney stated the objectives the LRC are using reflect the time the cooperation agreement was created They should be reconsidered in current terms to address current issues. Councilmember Loo noted this shows there is regional competition Council needs to define what works for Louisville. For example, using the funding to encourage certain types of development that may not be financially feasible without help from the City Councilmember Maloney stated one of our objectives could be "to maintain the look and feel of downtown" and we could use TIF to help fund projects that do that. Mayor Pro Tem Lipton stated one principal he would like to include is not using incentives for residential development in the URA. Councilmember Leh asked what if it was for certain kinds of housing, perhaps senior housing Mayor Pro Tem Lipton stated we don't need it here because of the market conditions. Mayor Muckle stated Council should give input on the draft criteria for how TIF could be used for direct financial assistance Any input tonight would be included in the next draft. Councilmember Stolzmann stated Council needs to agree on the principals for when to use TIF We need additional information about when it is successful or not to be able to have that conversation City Manager Balser stated staff can find information but it may be subjective depending on the source It may be difficult to find meaningful information Mayor Pro Tem Lipton stated he doesn't want to spend too much time on research which is all conflicting, we need to decide what principals we want for Louisville We can be pragmatic about this and create what we need