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Topics of Discussion  
Council Work Session
 
Meeting Date:
09/07/2021
Community Reinvestment Area (CRA) #7 - Modification
Submitted By:
Bryan Chodkowski
Department:
Council Committee Review?:
Council Work Session
Date(s) of Committee Review:
09/07/2021
Audio-Visual Needs:
None
Emergency Legislation?:
No
Motion/Ordinance/
Resolution No.:
Agenda Item Description or Legislation Title
Community Reinvestment Area (CRA) #7 - Modification
Purpose and Background
This legislation is the first of two pieces of legislation to support development at the northeast corner of Old Troy Pike and Taylorsville Road. As Council was previously briefed, this development partnership facilitates the necessary resources to fund traffic improvements from Taylorsville Road north to I-70. These improvements are designed to increase traffic flow and reduce traffic congestion.
This legislation removes several disjointed parcels in and around the development site from Community Reinvestment Area #7. Separate legislation extending Community Reinvestment Area #6 over all parcels in and around the development site for continuity of benefit is companion to this legislation.
Additionally, this legislation removes the original Marian Meadows property from Community Reinvestment Area #7. Future legislation establishing a new Post-94 Community Reinvestment Area will be presented to City Council once a meaningful redevelopment investment has committed to this site. This is necessary to ensure the accurate and uniform incentive application and management.
Fiscal Impact
Source of Funds:
N/A
Cost:
N/A
Recurring Cost? (Yes/No):
N/A
Funds Available in Current Budget? (Yes/No):
N/A
Financial Implications:
Attachments
Resolution
Exhibit A.1
Exhibit A.2
Exhibit A.3
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