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City Council/LRC <br />Planning Commission <br />Special Meeting Minutes <br />January 12, 2009 <br />Page 7 of 7 <br />Mayor Sisk stated any project coming before the City will have a financial and <br />market analysis and the numbers are one of the factors to be considered. <br />Commissioner Hernandez asked if the cost of City services supports residential. <br />Mr. Knudtsen stated most models are broken down into residential and <br />commercial. <br />Mr. Leary asked the following questions: If the cost of housing coming in is on <br />average what homes are selling for; what are citizens willing to pay and what <br />type of return on investment does the City want. He noted sometime in the future <br />the City will have to decide what they are willing to pay. With respect to the <br />Highway 42 Revitalization Area, he noted sales tax is taken out of the general <br />fund and he asked how many years it will take for the City to recover their <br />investment. <br />Mr. Knudtsen stated those were all good questions, policy questions with <br />community value to refocus efforts. He noted to create a qualitative prospective <br />many communities are in the redevelopment mode. <br />Mayor Sisk asked City Manager Fleming how the City will go forward in the <br />Highway 42 area. City Manager Fleming explained the City will be working with <br />multiple landowners, the parking in-lieu fee, a minimum parking footprint and the <br />necessary infrastructure improvements. <br />Mayor Sisk announced the next regular meeting of the Louisville Revitalization <br />Commission (LRC) will be Monday, February 9, 2009 at 7:30 a.m., at the <br />Louisville Public Library meeting room. <br />ADJOURN <br />The meeting was adjourned at 9:33 a.m. <br />