City Council Study Session Summary 2022 09 13

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City Council Study Session Summary September 13, 2022 Page 2 of 2 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. Katherine Correll gave a review of the work of DCI and the work they have done with the LRC since June including a downtown assessment. The goal for today is to discuss what has worked well so far, what do you want to see happen, how do you want to spend the LRC funds, and how to maximize the ten years left on the TIF. She reviewed reviewed the priority areas the LRC has identified including supporting small diverse businesses; sustaining authentic Louisville places; encouraging local investment; celebrating history; safety and transportation; and fostering an attractive community. Members discussed what projects they would like to see, staffing, ideas to address blighted areas, how to support critical infrastructure, what projects might have community support, and how to fund projects that wouldn't otherwise get local funding without the TIF. Members discussed how the two groups could work more proactively together noting there are only 10 years left on the tax and everyone needs to agree on projects that will benefit everyone. LRC members noted they would like more information from Council on what projects the Council would support and how the LRC funding could be best used. They discussion how to better align the vision and priorities of the LRC and Council. Members discussed how funding may be shared on CIP projects and how those could be prioritized. There was discussion of how processes could be streamlined when working together. Members discussed what small changes might have an impact and would be fairly easy to do as well as large projects that could have a big impact on the entire community. Meeting adjourned at 7:58 pm. Submitted by Meredyth Muth 9114122.