Revitalization Commission Agenda and Packet 2024 06 26

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Revitalization Commission Minutes May 22, 2024 Page 6 of 7 $5M for the underpass project. He asked if the LRC needs an economic study. Mayor Leh commented that he needs a strategic understanding of what the underpass would do to reduce blight in the entire URA, not just downtown. He suggested that the discussion should include what conceivable connection this project would provide further south, asking how to bring people in the CTC to downtown. He noted that we have a large bike community and theirs the potential connectivity with the Red Tail Ridge development. Chair Adler asked for economic analysis. Commissioner Lipton stated that he wants to double down on the Downtown Vision Plan. He commented that an underpass would be nice, but he feels it won't have the same impact. He believes the Vision Plan will cost around $10M-$15M and he doesn't know how to fit other projects in with a $5M underpass cost. He would like to see a more accurate projection for the Vision Plan. The EV Manager noted that the desire is to move forward with a high amount of bonding scenarios, keeping the $8M Vision Plan cost in mind. The LRC said that they do not need an economic analysis to approve the underpass, they requested further analysis on how the underpass meets the goals of the URA. There was a discussion on the current Downtown Vision Plan breakdown and current contingencies built in. Staff should come back with the work plan discussion to identify strategic initiatives. Jeff: yes. Or should we pull the top 5 previously identified projects rather than rehashing the strategic plan effort. Take the current work plan, refresh the discussion and confirm moving forward or tweaking it. We need everyone on the same page. DCI study, last year's work plan and get LRC agreement on priorities. The EV Manager noted that, based on the financial analysis, the LRC can't bond more than $10M and continue current programs. Chair Adler supports bonding and the streetscape plan. Staff will start working on bonding scenarios and continue to advance the Downtown Vision Plan. The Director of Community Development noted that we can't have a better estimate for the Vision Plan until we have construction documents. After construction documents are completed, the project will be narrowed down and sent out to bid. Commissioner Tofte asked everyone to attend the Vision Plan open house tomorrow. The Director of Community Development asked the LRC for direction on future agendas. The LRC requested more detailed bonding scenarios and a strategic look at the work plan. Commissioner Harald asked that the presentation planned for the Vision Plan open house be sent to LRC. Public Comment: