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Planning Commission <br />Meeting Minutes <br />April 9, 2015 <br />Page 24 of 27 <br />Russell says he doesn't think that is the question Comm. Moline is asking. The fiscal aspect is <br />one thing, but to get to the question of "do we have the appropriate data around demographics <br />and economic issues" is a whole separate question. Do we have that sort of information on <br />South Boulder Road? <br />Robinson says there was no additional information. There was a market study done as part of <br />the Comp Plan which is 2-3 years old. The ULI Tap gave some broader market analysis. We <br />do not have any additional market information. <br />Russ says South Boulder Road had a Developers Round Table that the Business Retention and <br />Development Committee discussed, and they gave their perspective of South Boulder Road. <br />The Business Retention is a collaborative board looking at economic alternatives as a part of <br />this. They are proposing of putting together a similar economic round table for McCaslin. <br />McCaslin has been thought through more than South Boulder Road. South Boulder Road only <br />had the Comp Plan's market study that was city-wide, looking at overall yield. They did look at <br />each quadrant of the City, and they had the Developers Round Table. We did not have a <br />separate market study. In this one separate market study, we utilized the ULI Tap panel and <br />had market experts and investors in, and they gave us their perspective. This is the only market <br />components that have been done to date. <br />Moline is concerned about what is happening to the south in the Superior Town Center. This is <br />could really affect what happens on this north side of US 36. Will we have some studies or <br />some reports that will help us in our assessment of Louisville's side should be complimentary or <br />reacting to what is happening to the south. <br />Robinson says Staff has the plans for the Superior Town Center so Staff will look at those and <br />try to assess what the impacts will be. What additional traffic will we see? What additional <br />residents are now going in the market capture area? What businesses are going to be over <br />there and could take business from our existing ones? <br />Russ says the ULI panel also had the Superior Town Center as a component. They knew the <br />program, they gave their inputs to it as a part of it. The fiscal model, just to remind everyone, <br />has a City revenue sharing agreement for the retail portion of the Superior Town Center. There <br />is actually revenue outside the City that the City will be generating. The question is really to <br />market and how do the new rooftops of the Superior Town Center impact Louisville, and vice <br />versa. Is there new information that we need to get? The Developers Round Table will get us <br />up to speed with what ULI left us with. <br />O'Connell wants to know more about the history of how Louisville has some big boxes and <br />Superior on the south got big boxes. Was there competition originally between Louisville and <br />Superior, and did Louisville lose? Is there a trend here? Is there a reason that any big boxes <br />would come back to fill the spots, or is the reality that Louisville is a city with roughly 19,000 <br />people and no market? <br />Russ says Staff can prepare a history for Centennial Valley and present it at overflow or at a <br />future session as part of Small Area Planning. He says it wasn't Superior that beat out <br />Louisville. It was Broomfield, Boulder, Superior, and Lafayette. Louisville was never a <br />crossroads town; we were always a resource town. Main Street was not on US 36. When US <br />36 came in, McCaslin was built and Crossroads Mall in Boulder was the story. Centennial Valley <br />was a key catalyst in damaging Crossroads. We were the regional alternative with Sam's Club, <br />Home Depot, and Eagle Hardware. Then Flatirons Mall was built and leveled Crossroads Mall. <br />Home Depot was still the only one. Then 29th Street's Home Depot in Boulder damaged the <br />Louisville Home Depot revenue sales. Lafayette brought in Wal-Mart on Hwy 287. Broomfield <br />brought in Wal-Mart. Superior brought in Costco and it was the death blow to Sam's Club. We <br />know through the market study for the Comp Plan what the rooftops are and what they <br />generate. We know through the ULI study how Superior Town Center impacts it. We don't <br />