City Council Minutes 2011 07 05 - Laserfiche WebLink

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City Council Meeting Minutes July 5, 2011 Page 9 of 15 Economic Development Director Star explained City Council action is requested on a proposed Economic Development Business Assistance Package (BAP) for Ricco's Burritos to secure the building renovation and re- establishment of a restaurant in approximately 1,400 square feet located at 318 South McCaslin Boulevard in Louisville. Mr. Rick LaRouche requested business assistance in order to re -open the former Ricco's Burritos space in shopping center located at the corner of Cherry Street and McCaslin Boulevard. Mr. LaRouche first established Ricco's in 2007 at this same location, selling the business as a franchise in 2009. Since selling the first outlet, Mr. LaRouche has opened additional outlets elsewhere and desires to reestablish his presence in the City where it all started. The shopping center where this restaurant is proposed has suffered many vacancies in recent years. The City has been successful adding jobs to the Centennial Valley, but retail has been a struggle. Centennial Valley contributes more sales tax to the City than any other business district. Any assistance would be contingent upon the opening of the store no later than October 1, 2011.The provisions for the BAP includes the following: The City would rebate 40% of the incremental sales tax revenues derived from the imposition of the City's 3.0% general sales tax (excluding the City's three eighths percent (3/8 Open Space Tax and one eighths percent (1/8 Historic Preservation Tax) and actually collected by the City and attributable to retail sales from new business activity in the City of Louisville for the first two years of operation. Incremental assistance would NOT be provided if Ricco's Burritos has not commenced operation on or before October 1, 2011. Total assistance would be capped at $7,500.00. The City would receive full benefits from permit fees and construction use tax. APPLICANT PRESENTATION Rick LaRouche thanked Council for consideration of this assistance package. He hoped to restart his business in Louisville COUNCIL COMMENTS Councilor Dalton and Mayor Sisk welcomed Ricco's Burritos back to Louisville. Mayor Sisk stated the City supported Ricco's Burritos before and appreciates Mr. LaRouche's desire to return to Louisville. MOTION: Councilor Muckle moved to approve Resolution No. 37, Series 2011, seconded by Councilor Dalton. Roll call vote was taken. The motion carried by a vote of 6 -0. Absent: Councilor Clabots. RESOLUTION No. 38, SERIES 2011 A RESOLUTION APPROVING A SPECIAL REVIEW USE (SRU) TO ALLOW ALTAN ALMA ORGANIC TO OPERATE OUTDOOR