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SUBJECT: APPLICATION FOR ASSISTANCE: CORVUS NIDUS LLC, THE ROSE <br />& RAVEN AT 511 EAST SOUTH BOULDER ROAD <br />DATE: DECEMBER 9, 2020 PAGE 2 OF 6 <br />• Improved 8 foot sidewalks; <br />• New curb and gutter; <br />• New street trees; <br />• New 8 foot tree lawn; <br />• New street lighting; <br />• New access agreement for sidewalk; <br />• Cut, patch, and repair of street for water main; <br />• Replacement water main; and <br />• Revised utility easement. <br />Included as Attachment #1 is the Corvus Nidus LLC application for assistance. The <br />owners' request is for $134,758 in improvements. The application includes a <br />construction cost estimate as well as a site diagram indicating the specific areas of the <br />property were improvements would be made with LRC assistance. <br />DISCUSSION: <br />The Urban Renewal Area- Application for Assistance, included as Attachment #2, <br />outlines the objectives projects must address to be considered for assistance. In <br />addition, the Application calls for projects to be evaluated on several factors: <br />• The ability to stimulate growth and reinvestment in the URA; <br />• The elimination or prevention of blight in the URA; <br />• The magnitude of positive effect caused by the project; <br />• The need for public assistance to complete the project; <br />• The economic benefits to the community from the project; <br />• The effect of the project on surrounding property; and <br />• The increase in property value created from the project. <br />Generally, LRC reviews of applications for public infrastructure improvement assistance <br />have focused on: removal of blight factors, positive effect on property values, and <br />advancement of the Urban Renewal Area (URA). Please keep in mind that the analysis <br />of this project for URA funding is separate and distinct from the planning -related <br />components, such as building size, use, and design. <br />Removal of Blight Factors: <br />The 2006 Louisville Highway 42 Revitalization Area Conditions survey identified <br />properties that contributed to the blight conditions present in the area, as follows: <br />a. Deteriorating Structures <br />b. Faulty Street Layout <br />c. Faulty Lots <br />d. Unsanitary/unsafe Conditions <br />e. Deteriorating Site or other improvements <br />f. Unusual Topography or Inadequate Public Improvements <br />h. Danger to Life or Property from Fire or Other Causes <br />LOUISVILLE REVITALIZATION COMMISSION <br />30 <br />