City Council Minutes 2007 01 16 - Laserfiche WebLink

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City Council Meeting Minutes January 16, 2007 Page 4 of 13 Becky Hogan, EDge Consulting Services, requested Council direction on the amount of the incentive. She recommended a 50% range, but noted in certain situations 50% may not be enough. She explained most counties have a 50% cap. She suggested a range rather than a cap on the limit of the incentive. Mayor Sisk opened the public hearing and requested City Attorney Light's and Ms. Hogan's comments be made a part of the record. PUBLIC COMMENT Michael Menaker, 1827 W. Choke Cherry Drive, Louisville, CO asked if there is another way to look at the inoentive program to accommodate a large company coming into Louisville. He stressed they would be an employer of Louisville residents. He requested mone emphasis on retaining small existing restaurants and businesses. He asked if Hxisting businesses who propose to relocate into the urban renewal area are also eligible for incentives and increment incentives. Ms. Hogan stated BRaD wants to get out in the community to determine the needs of the local businesses.. She explained how other communities having adjoining commercial boundaries share sales tax revenues through IGA's. The business retention is taken off the top and the remainder of the revenue is shared. With respect to assis.ting smaller business, she noted there are a number of programs that can be implemented, such as facade improvements, where dollars are matched. There are scholarship enhancements for training employees, where dollars are also matched. She noted it is not the intent of the City to give away budgeted dollars to businesses, but to assist in improving and expanding their businesses to allow them to create their own pool of money. COUNCIL COMMENT Mayor Sisk supported removing the 50% cap from the ordinance to give Council more flexibility. He noted Jefflerson and Adams County have a 50% cap on personal property tax, howevler, Boulder County does not. He suggested discussions be initiated with Boulder County on personal property tax incentives. Mayor Pro Tem Brown stated the ordinance documents the incentive program. It allows a framework for BRaD and the Council to follow. He stated business retention is a critical compol1E:mt. He supported BRaD, Council and the City Staff meeting with local businesses to determine their needs. It was his understanding any business in Louisville could apply for incentives. He also supported removing the 50% cap from tlhe ordinance. Council member Sackett voiced his support of the ordinance. He stressed the importance of being fair to all businesses and the importance of getting started.