Planning Commission Agenda and Packet 2020 06 25

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Planning Commission Meeting Minutes June 11, 2020 Page 9 of 19 • An enhancement and new network of trails • A park land • An enhanced area of access and circulation • An improved upon safety When discussing the fiscal benefit, Baukol mentions the 2018 and 2019 annual property taxes. He then compares those to the proposed build out estimated property taxes as well as the tax benefits from Medtronic and the phase one Erickson Senior Living center. There are also additional ongoing revenue and stimulus benefits to the city such as sales tax revenue, lodging tax revenue, and construction fees. He mentions the positive impact on local businesses from resident's income at the senior living facility and the positive employee economic impact through dining, shopping and entertainment. Baukol mentions that there will be no additional tax burden on the residents and goes into further discussion in regards to the development costs. Jordan Swisher: Vice President of Brue Baukol Capital Partners Swisher discusses the responsiveness between Louisville residents and various businesses and boards. They have conducted over 30 meetings with community members, neighbors, schools, business associations, and stakeholders. They have also received over 600 comments from the community and over 100 residents have participated in on -site tours. She mentions that they have had several live public information webinars and a virtual telephone town hall meeting in May. She then speaks on the increase and relocation of the public land dedication and compares the prior GDP submittal and current GDP plan. Based on the residents' feedback, the density has also been reduced by approximately 1.2 million sq. ft. She does mention that further reduction of the density is not feasible for this development though. This is because further decreasing the density below 5.22 million sq. ft. creates a deficit for the project and an inability to pay for the required infrastructure and the public benefits. The density is also mainly distributed in Parcel C along the Northwest Parkway with 48% of the development being located there. Sarah Komppa: Architect, Urban Designer and Planner for Tryba Architects Komppa discusses the key topics related to this proposed design. The first topic is density. She reviews the site history approved square footage. StorageTek's square footage was built for 1.7 million with 4,800 employees. ConocoPhillips was approved for 2.5 million with 7,000 employees, and Redtail Ridge is proposing 5.2 million with 8,400 employees. She reviews each parcel's FAR and discusses the anticipated implementation schedule. She moves onto the proposed building heights and goes into detail for each parcel section and what each building's stories will be. She displays conceptual 3D views of the building heights. 12