City Council Study Session Agenda and Packet 2022 09 13

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LL Cityof CITY COUNCIL COMMUNICATION Louisville AGENDA ITEM 2 COLORADO • SINCE 1878 SUBJECT: JOINT STUDY SESSION WITH LOUISVILLE REVITALIZATION COMMISSION DATE: SEPTEMBER 13, 2022 PRESENTED BY: AUSTIN BROWN, ECONOMIC VITALITY SPECIALIST SUMMARY: As on if its 2022 initiatives, the Louisville Revitalization Commission (LRC) hired a consultant to conduct a retreat and strategy session for the Highway 42 Urban Revitalization Area (URA). BACKGROUND: The LRC uses its Work Plan document, which was developed around broad goals and potential projects, to guide agenda setting and priorities. In addition, the annual budget process helps to align priorities and project funding. Although this process generally serves the Commission well, there have been some discussions around how the group can be more strategic and ensure that significant investments are made during the remaining years that Tax Increment Financing will be available. Staff approached Downtown Colorado Inc. (DCI) last year because of their expertise and past experience in working with Urban Renewal Authorities. The Agreement between LRC and Colorado Community Revitalization Association Inc. (dba Downtown Colorado Inc.) for Consulting Services was approved by City Council during the March 15, 2022 meeting. The LRC adopted the Agreement at its April 13, 2022 meeting. The Agreement is included as Attachment #1. Exhibit A to the Agreement includes the specific Scope of Work. Please note that the joint meeting with City Council was originally planned for June 28, 2022, but was rescheduled for September 13, 2022. DCI hosted its first LRC Board Strategy Planning Meeting on June 9, 2022. All six members of the LRC, four members of DCI, and several City staff were in attendance. DCI encouraged the LRC to review its past accomplishments and identify its next steps and objectives. The Summary of Findings from this meeting is included as part of Attachment #2. Following the first meeting, DCI facilitated an interactive walking tour and assessment between the LRC, City of Louisville staff and elected officials, Downtown stakeholders, and a team of DCI experts. The purpose of this session was to identify improvements that will make the most significant impacts towards the community vision. A summary of the downtown assessment is included as part of Attachment #2. Through its work with the LRC, DCI has identified the following five potential focus areas for the LRC moving forward: CITY COUNCIL COMMUNICATION 2