Planning Commission Agenda and Packet 2020 06 25

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Planning Commission Meeting Minutes June 11, 2020 Page 8 of 19 Zuccaro says that is correct. Rice states that regarding the GDP, that does not speak to the issue of how high the buildings are. Zuccaro says that is correct because the municipal code for PCZD and GDP says you have to have general conformance with the underlying zoning, which includes height, so it prohibits a new height being set within the GDP. It can only be waved with the PUD. Rice states that if planning commission ever gets to that stage and applicants present these PUDs, that is where these decisions are made regarding building height. Rice mentions that many of the public comments concern regards having potential five stories buildings and that then affecting the views. If a developer were to have five story buildings on this property, whose view corridor would be impeded by that? Zuccaro says he is unsure if they would have a specific view that would be impacted. He thinks the interior of the development certainly would have views blocked. For the exterior of the development, the commissioners could ask the applicant to expand upon their view corridor analysis. When staff was analyzing this, looking at Campus Drive, the open space corridors on the north side by Campus Drive helps to preserve the open views. Rice asks regarding the fiscal analysis, what is the simple explanation of how a large development like this, which should be generating large tax revenues, can end up in the negative in some of these categories. Zuccaro says that he thinks staff would have to work with the city's consultant in asking what could be driving that in regards to revenues and funds. The mix of commercial and residential has a significant impact though. Staff has to consider the estimated value of the residential development and the amount of sales tax revenue that will be generated. The senior living center's concept is one that would be a very self-sufficient community, which means they would be using their dining halls and not needing to go to the grocery store and so forth. Staff made many assumptions about sales tax capture. In the normal residential neighborhoods that are within the city, staff made a much higher assumption in the sales tax capture. Staff assumed that because the residential portion at Redtail Ridge is more geographically on the outer portions of Louisville, the sales tax capture would be lower. Those are some of the factors that could be driving that. Applicant Presentation: Geoff Baukol: President of Brue Baukol Capital Partners Baukol begins his presentation by introducing his company and reviewing Louisville's principles and how those principles integrate with this development's vision. He then begins his discussion of the public and fiscal benefit to Louisville. In regards to the public benefit, he mentions the following: • A dormant site that is now opened to the public • A publicly dedicated land 11