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PURPOSE <br />L <br />.0 <br />r <br />The Louisville Revitalization Commission <br />(LRC) Board has been working as a strong <br />partner to the City by overseeing the <br />downtown urban renewal TIF area; filling <br />project gaps that arise; and assisting in <br />public -private partnership opportunities <br />for redevelopment. The LRC is seeking to <br />maximize the use of urban renewal over <br />the next 10 years to make significant <br />impacts based on enhancing the quality <br />of life for this area through a Downtown <br />Lau isvi I le U rban Renewa I Area Strategy. <br />The Louisville Revitalization Commission <br />Board enlisted Downtown Colorado, Inc. <br />(DCI) to assist in facilitating a strategic <br />process for the Downtown Louisville <br />urban renewal area to assess <br />accomplishments; outline future <br />objectives; and establish an action plan to <br />maximize on urban renewal projects for <br />the remaining years of the downtown <br />urban renewal area. <br />METHODOLOGY <br />DO reviewed past and current LRC projects <br />and highIightedthe ways that Tax <br />Increment Finance (TIF) can work and <br />connect best practices and trends for <br />downtowns. The DO process will establish a <br />strategy and action plan to effectively <br />leverage tax increment financing and the <br />Urban Renewal Authority (URA) to further <br />thevision of the City of Louisville in the <br />downtown u rban renewal a rea. The LRC <br />Board strategy process uses a logical <br />progression to determine needs and <br />preferences to develop the future strategy <br />for downtown Louisville. <br />DC planned a multi-stagefaciIitated <br />process to engage local stakeholders, <br />council members, and city administration <br />to identify key vision components and <br />projects to maximize the use of u rba n <br />renewal in the downtown project area. <br />Agenda Packet P. 12 <br />