Revitalization Commission Agenda and Packet 2023 07 12

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Revitalization Commission Minutes June 14, 2023 Page 2 of 8 Public Comments on Items Not on the Agenda: Rick Kron, Louisville resident and president of the Downtown Business Association recommended that the LRC address vacant buildings in downtown, which is a major concern of the DBA. Reports of Commission: Staff updates The Economic Vitality (EV) Manager provided updates on properties within the URA. 816 Main is for sale, not for lease. The City has provided the broker information on incentives and is also working with Historic Preservation as the building is landmarked. The Empire sign will need to be retained and needed renovations are unknown at this time. 833 Main — there is an interested party for this site and currently under contract. A consultant team was hired to review the potential of the property and the possibility of the city occupying or purchasing that building. 804 Main — the owner isn't planning on improving the site. The City provided information on incentives and the owner isn't interested in them at this time. LRC has the authority to acquire the property and it was noted that this could be an option to revitalizing the community. The owner of 916 Main applied for direct assistance and the City is working on getting a third - party review. This application will likely come back to LRC in August. Ice Rink contact for services with Rocky Rinks will be presented at next week's council meeting and will come back to LRC at July meeting for final approval. The agreement includes the purchase of equipment, chiller rental and event management. Initial outlay costs are approximately $405,000. The LRC committed $300,000 in the recent Budget Amendment. LRC will receive fee revenues estimated at $190,000 at the end of the season, reducing the total cost to LRC to approximately $200k. The EV manager noted that there may be an additional LRC budget amendment needed to cover the additional funding. Storage and other details will need to be addressed and discussions will continue as we move forward with the contract. How electrical costs are covered will also need to be determined. It's estimated to cost around $20k for electricity each year. Business openings/closings: There will be a Dollar Tree grand opening on June 28. The updated draft ordinance for dark sky lighting will go to council on July 19 as part of the public hearing process. Councilmember Leh noted that Community Development has worked very hard to address complex issues. DCI is hosting workshops for Urban Renewal and URAs. The EV Manager will share information on upcoming workshops for those who would like to attend. The Downtown Streetscape Plan RFP has been posted. Agenda Packet P. 4