City Council Minutes 2007 01 02 - Laserfiche WebLink

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City Council Meeting Minutes January 2, 2007 Page 7 of 10 Becky Hogan, EDge Consulting Services reported a company has expressed an interest in relocating to the City of Louisville. They are looking to relocate to an existing 80,000 SF building in Louisville and establishing a worldwide headquarters in the City. IntE~gral to their site selection and relocation plans is the potential for business incentives. They are asking for a 50% rebate on construction use tax and building permit fees. The company will employs 200 employees on site with the potential for an additional 75 over the first five years of operation at the new location. Company representatives stated their average salary is $90,000 per year and Louisville is one of 2 potential sites in the northwest corridor of the metro area. Interim City Manager Balser stated the Staff is looking for clear direction as to the types of incentives the City Council would be willing to discuss. Mayor Sisk noted the City has been negotiating with this company for over six months and is now a finalist. lHe voiced his full support of the business incentive proposal. Mayor Pro Tem Brown also supported the incentive proposal. Council member Yarnell stated the most exciting aspect is the potential business would be using an existing space. Mayor Pro Tem Brown stated the company was informed the City does not have any personal property use tax, which is a benefit to the company. Council member Clabots stated the employees of this new company will also bring revenue to Louisville's r,estaurants and hotels. Council member Marsella stated the business plan is very well thought out. Council member Sackett favored giving the negotiation team more flexibility. Council member Muckle supported the business incentive proposal. Mayor Sisk asked if there was Council consensus on the business incentive proposal, and direction to staff including flexibility in the negotiations. There was consensus. 2007 LEGISLATIVE AGENDA DISCUSSION Mayor Sisk reported the Council will meet with the Boulder County Legislators on Friday, January 5, at the Louisville Public Library. Council member Muckle requested additional items be added to the legislative agenda. He asked Council member Muckle to present his requested additions to the Legislative Agenda.