City Council Minutes 2021 05 25 - Laserfiche WebLink

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City Council Meeting Minutes May 25, 2021 Page 2 of 4 Renewal Area (URA) which includes improving infrastructure to facilitate redevelopment. Three of the underpasses Council is currently considering are in the URA which is why the Council is seeking some LRC funding for those. She reviewed the specific plans in the TMP for all six underpasses the Council is considering as well as how the Council is considering paying for them with a bond issue paid for by a combination of city money and a possible tax increase. This funding would require a ballot question for approval by residents. Lexi Adler, LRC Chair, stated the LRC is has begun discussions on this and have asked staff to get additional information about how much money they would have available and possible funding amounts. Public Comments — None. Graham Smith asked if the Council has a specific funding number in mind at this point. Mayor Stolzmann stated the Council feels these underpasses could help revitalize the URA and would like the LRC to give the maximum amount feasible. Mayor Pro Tem Maloney stated the number will be dependent on how many underpasses are included in the final plan and also how these underpasses would specifically help address blight in the URA. Also, he noted the URA sunsets in 10 or 11 years and that needs to be taken into consideration. Mark Gambale states this looks like a good project to collaborate with the Council on and asked if the Council has done any polling with the public on this issue. Adler stated the LRC's mission includes implementing the Hwy 42 Revitalization Urban Renewal plan in the area and this project would address that. She noted funding for this project can't leave the LRC with no funding for other programs. Corrie Williams asked if the City would move forward with this project without LRC support, can the LRC funding only be used for the three underpasses in the URA, and what evidence that this supports or attracts businesses or that this addresses blight. Smith asked how can we be sure the underpasses will address blight. He was concerned spending too much on this could hamstring the LRC and keep them from addressing blight in specific areas. Bob Tofte stated there are some other projects coming that the LRC might want to fund and this could limit that. He asked if the bond issue needs to be on the ballot this year or if it can wait for next year. He strongly supports an underpass at South Boulder Road and Main but would like more information on what level of commitment the LRC can afford and still do other projects.