City Council Study Session Agenda and Packet 2022 09 13

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SUBJECT: JOINT STUDY SESSION WITH LOUISVILLE REVITALIZATION COMMISSION DATE: SEPTEMBER 13, 2022 PAGE 2 OF 3 • Supporting Small and Diverse Businesses and Building Owners • Sustaining Authentic Louisville Initiatives and Places • Celebrating History and Historic Structures • Safety in Multi -Modal Transportation • Fostering an Attractive and Comfortable Community In reviewing the accomplishments and challenges for the LRC, DCI also identified several areas of the LRC that need to be considered when recommending improvements. Firstly, the LRC is unique in that it has different functions and authorities than other Louisville commissions. Secondly, the LRC's role requires increased communication with City Council, the community, as well as local businesses and building owners that are often the beneficiaries of LRC action. Finally, the LRC could benefit from increasing the awareness of the Commission and its role in development within the URA. These points are further addressed in Attachment #2. DCI identified several areas where LRC investment could make a big difference in building capacity, community engagement, and curating the built environment for locals and visitors. These areas include enhancing downtown connectivity through investment in new infrastructure, which will improve the experience for individuals and businesses utilizing the URA. Another potential item to consider is ensuring that LRC projects and investments align with community preferences. This may be achieved through increased communication with the private sector. Finally, the LRC should have a clear vision that can be easily communicated to the community. DCI found that there is a gap in the communication or education of the vision, resources, and opportunities that the LRC can provide to support quality of life. These items are further discussed in Attachment #2. In discussion with the LRC, DCI heard various ideas for improvements in the following categories: • Private sector incentives • Public space enhancements • Safety and multi -modal transportation DCI hopes to engage City Council in a high-level discussion regarding the outcomes of these meetings and identifying a strategy to maximize the final ten years the of Tax Increment Financing (TIF) period, which is set to expire in 2032. 1]6*8111::11Is] ►1 As outlined in the Scope of Work, the next step of the retreat and strategy process is a joint meeting between LRC and City Council. The LRC is interested in working collaboratively with the City Council to explore past successes, lessons learned, and the overarching goals for revitalization efforts in the next ten years. CITY COUNCIL COMMUNICATION 3