Planning Commission Minutes 2015 07 09

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Planning Commission Meeting Minutes July 9, 2015 Page 9 of 17 o Create a retail rich environment where area businesses and residents can be successful. o Re -tenant or redevelop the Property. o Increase retail activity by encouraging occupancy of the Property. • LRC is authorized to negotiate and enter into Redevelopment Agreements and Cooperation Agreements • The power of eminent domain as authorized by the Urban Renewal Law may be utilized to alleviate the qualifying conditions. o Eminent domain authority is limited only to property within the Urban Renewal Area • This Plan does not authorize use of tax increment financing pursuant to Section 31-25-107(9), C.R.S. o The use of tax increment financing within the Plan Area can only be authorized by amendment to this Plan. • Conformity with Comprehensive Plan • The Plan states this urban center shall remain the City's primary retail center that is supported by a mix of land uses including office and residential. • The land uses are to demonstrate strong fiscal benefits being the main retail area of town. • Comp Plan Policies and Principles • Policy ED-1.2: The City should encourage employment centers to provide goods and services which will bring revenue from outside of the community into the community. • Policy ED-2.1: The City should strive to achieve complementary land uses that promote and economically healthy community. • Principle ED-3: The City should be responsive to market opportunities as they occur, and maintain and enhance the City's competitive position to attract development that adheres to the Community Vision. • Policy ED-3.1: The City should actively compete for quality economic development opportunities. • Policy ED-3.2: The City should consider strategic public investments and partnerships to encourage, promote, and recruit private investment that responds to the Community Vision and Core Community Values. • Policy ED-3.6: The City should support redevelopment efforts that bring diversity and income generation to aging and distressed areas within Louisville. • Principle FH-1: The City should maintain fiscal balance through effective land use decisions, focused economic development efforts, encouraging a mix of residential unit types and pricing, and strategic public investments, all consistent with the community's desire for high -quality services and amenities. Staff Recommendations: Staff recommends Planning Commission move to approve Resolution 23, Series 2015: A resolution finding the 550 S. McCaslin Urban Renewal Plan to be in conformity with the Comprehensive Plan and recommending approval of said Urban Renewal Plan. Commission Questions of Staff: Moline says he was expecting a graphic plan showing more of what will be laid out on the site. There isn't a lot there except a few comments about if what we propose to do will meet the intent of the Comp Plan. Pritchard says we are very early in this process. We have to look at the question being posed to us this evening. In a perfect world, would this Urban Renewal Plan move forward and would its