City Council Minutes 2011 02 15 - Laserfiche WebLink

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City Council Meeting Minutes February 15, 2011 Page 3 of 6 Mayor Pro Tem Marsella requested a City Attorney introduction. City Attorney Light read Ordinance No. 1589, Series 2011. Mayor Pro Tem Marsella opened the public hearing and requested a staff presentation. Planning Director Russ explained Ordinance No. 1589, Series 2011 extends the current temporary moratorium on Medical Marijuana Dispensaries, which expires March 31, 2011. City Staff is in the process of preparing for City Council consideration draft ordinances pertaining to the regulation of medical marijuana and additional time is needed to process and consider the adoption of such ordinances. Mayor Pro Tem Marsella requested public comment and hearing none, closed the public hearing. MOTION: Councilor Dalton moved to approve Ordinance No. 1589, Series 2011, seconded by Councilor Muckle. Roll call vote was taken. The motion carried by a vote of 5 -0. Councilor Sackett abstained. Absent: Mayor Sisk. RESOLUTION No. 11, SERIES 2011 A RESOLUTION APPROVING A BUSINESS ASSISTANCE PACKAGE WITH NATIONAL ENTERTAINMENT NETWORK, INC. Mayor Pro Tem Marsella requested a staff presentation. Economic Development Director Star explained the request is for Council approval of a proposed economic development Business Assistance Package (BAP) for National Entertainment Network, Inc., which is the nation's leading amusement vending company. They currently occupy 32,000 square feet in the Colorado Tech Center (CTC) and will relocate either to a new leased location in CTC or to Broomfield. They have received an attractive financial incentive package from Broomfield. The Louisville option is approximately 27,000 square feet of existing vacant space at 331 S. 104th Street. The assistance will be funded by permit fees and construction use tax from the tenant finish of the existing space. National Entertainment Network, Inc. has 600 employees nationwide with 65 fulltime employees at their headquarters at CTC. They plan to increase to 75 Louisville employees in five years. The average annual wage paid to the company's Louisville employees is approximately $60,000 per employee. The City estimates National Entertainment Network Inc. will generate new revenue of over $22,000 from building permit fees directly to the City in the first year of operation. Based upon the estimated revenue projection, staff recommended a total proposed assistance of $6,750.00 and suggests the assistance not be capped at any overall amount. Additionally staff suggested the City's incentive be void if National Entertainment Network Inc. does not move into the new facility by December 31, 2011, or does not remain in business there for three years.