Revitalization Commission Agenda and Packet 2023 12 20

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Revitalization Commission Minutes November 15, 2023 Page 4 of 6 compliance upgrades is a good place to start and expressed concern that the budget might not be sufficient to provide meaningful support to property and business owners. He also noted that the LRC will need to fully understand what the goals are for the first year and set appropriate criteria for evaluation in the pilot program. There was a discussion on how to go about determining the best way to evaluate the needs of property and business owners and how to balance LRC support with available historic preservation grants. There was an extensive discussion around the purpose/goal of the program and where to start. Questions were asked about impacts on tenants, how to support business owners, and the property owner being the primary beneficiary of the program. There was a discussion around vacant storefronts in the URA and how to determine why they are vacant. Commissioner Tofte mentioned that empty storefronts will be an important focus for him. Commissioner Iglesias noted that helping tenants to do buildouts would greatly benefit business owners as it's very expensive for the tenant and not the landlord. This could attract more tenants to Louisville. Councilmember Leh noted that he would like to investigate what the LRC needs to accomplish to address blight and asked the LRC to consider if improvements that promote arts and culture address blight. Chair Adler noted that some of these topics are better aligned with the EV department's role as part of a business assistance program and asked the LRC to consider if the commission is acting outside of its scope. The City Manager proposed that a future discussion on property acquisition might be an appropriate topic for an executive session He noted that some property owners are unmotivated to improve and for safety improvements he suggested inviting the fire chief to explain about the role of sprinklers. Public Comment: Resident Shery Sommer commented that acquiring property seems very expensive and asked if that would reward overpricing in the market. She also noted that Louisville's downtown lacks vitality due to long-term vacancies and asked if a comparative study has been done on leasing prices between Louisville and neighboring municipalities. DBA President Rick Kron commented that he would advocate for the broadest program possible and requested that the Fagade Improvement Program be expanded to include back -alley improvements. He also commented that almost anything the LRC can do to fill a vacant building or keep a business here is blight prevention. Business Owner Mike Kranzdorf commented that, for the tenant improvement part, existing businesses could use this help and it would benefit the business owner directly rather than the Agenda Packet P. 6