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Revitalization Commission <br />Minutes <br />June 10, 2020 <br />Page 2 of 7 <br />Reports of Commission: <br />Commissioner Gorservski asked if the LRC will be able to meet in person in July. <br />Economic Vitality Director Megan Pierce said that for the foreseeable future, the LRC <br />will continue to meet virtually. There will be a point where the LRC will reconvene in <br />person but it will probably not be in July. <br />Business Matters of Commission: <br />• Resolution No. 20-03, A Resolution Approving an Agreement for Property <br />Tax TIF Revenue Sharing, Highway 42 Revitalization Area, with the <br />Louisville Fire Protection District <br />Director Pierce said the Fire District revised their request to the LRC, and that <br />request is for 100% of 3.9 mill levy approved by ballot initiative in November <br />2019 (approximately $51,000 to be paid in 2021). City Council approved the <br />agreement on May 19t" <br />Commissioner Tofte made a motion to approve Resolution No. 20-03; <br />Commissioner Adler seconded. <br />Roll call vote: <br />Chair Fisher - yes <br />Commissioner Adler - yes <br />Commissioner Tofte - yes <br />Commissioner Gorsevski - yes <br />Commissioner Gambale - yes <br />Commissioner Bradfield — yes <br />(Council member Lipton had not yet joined the meeting) <br />• Discussion/Direction- Cost Sharing for Required Third -Party Review <br />(Direct Financial Assistance Requests Only) <br />Director Pierce said the LRC proposed that if the LRC has a future applicant <br />requesting direct financial assistance (which requires a third -party review), the <br />applicant enter into a cost share for that process. The LRC would like cost <br />sharing to ensure the applicant has serious intention. <br />The proposed change is that the applicant would have 50-50 cost share for the <br />third -party review. If project proceeds, the 50% applicant paid would be rebated. <br />The policy that incorporates the language is a policy between the LRC and City <br />Council. Director Pierce provided alternative language to the policy. City <br />Council would have to approve the policy change, then it would come back to <br />the LRC to be adopted. <br />Agenda Packet P. 3 <br />