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Revitalization Commission <br />Minutes <br />June 16, 2021 <br />Page 5of7 <br />Chair Adler asked for public comment. Mike Kranzdorf thanked the LRC for the <br />discussion. He is in favor of some level of commitment from the LRC. He <br />wanted to point out Coal Creek Station is an active proposal and said they may <br />come with an infrastructure request. He also said Pine Street Plaza may also be <br />redeveloped in the future and could have a substantial request. He supports <br />Commissioner Gambale's suggestion for a phased contributions. <br />Commissioner Gambale made a motion for the LRC to provide annual funding <br />contributions to the underpass improvement projects starting in 2023, with <br />$1.25M being contributed between 2023 and 2027 and then increasing the <br />contribution to $1.5M between 2028 and 2032. He added the LRC's top priority <br />underpasses would be communicated as the projects at Main Street/South <br />Boulder Road and Hwy 42/South Street. Council member Leh seconded. <br />Commissioner Smith said this is a tremendous workload for the City. He <br />suggested funding may be needed in the agreement for a specific project <br />manager or that the LRC might need more assistance to ensure funds can be <br />spent in the appropriate time. Director Pierce noted that the City is anticipating <br />additional staff will be required for this package of projects. She said other <br />project management would be outside the scope of the agreement. <br />Commissioner Gorsevski said the underpass at Main Street/South Boulder Rd <br />makes most sense as a gateway to downtown. He does not have a preference <br />or enough information to choose which should be the next priority. He and <br />Director Pierce discussed how the other two projects may be influenced by the <br />redesign of the Hwy 42 corridor. <br />Council member Leh reviewed if the prioritization would prevent funds from <br />going to any particular underpasses within the URA. Attorney Cotton -Baez said <br />that if the City issues bonds, LRC funds would be used to offset the property tax <br />burden on residents. Director Pierce said she would be providing an update to <br />Council at the June 17 meeting about the LRC's intent. Further, if Council <br />eliminates any projects within the URA, that information will be shared with LRC <br />before advancing a cooperation agreement. <br />Roll call vote: <br />Commissioner Gambale — yes <br />Council member Leh - yes <br />Agenda Packet P. 6 <br />