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<br />City Council <br />Meeting Minutes <br />June 19, 2007 <br />Page 11 of 13 <br /> <br />based upon utilization of existing vacant space and creation of new sales tax to <br />the City. <br /> <br />Staff requested direction as to the types of incentives the City Council would be <br />willing to discuss with this prospect, and direction on how it desires to move <br />forward in negotiations with this potential prospect. Staff recommended a <br />$10,000 rebate in sales tax over a three-year period. <br /> <br />Mayor Pro Tem Brown reportl3d the BRaD Committee discussed the concept of a <br />restaurant/entertainment business and supports the business incentive proposal. <br /> <br />Council member Muckle supported the live music/eating establishment, but <br />questioned why the City would consider this proposal if the business has already <br />moved to Louisville. Ms. Hogan stated this is a timing issue, and explained the <br />proposal was received in March. The business is currently going through the <br />Planning Division and has nojt received all their entitlements. She explained Staff <br />is not recommending any refunds on building fees. <br /> <br />Mayor Pro Tem Brown stated the Council has heard the local restaurants <br />welcome new restaurants. He noted the renovations will add improved spaces. <br /> <br />Council member Sackett statE3d the Council has adopted a policy to extend <br />business incentives to encourage new businesses to Louisville. <br /> <br />Mayor Sisk stated the incentive program was set up to support new businesses <br />coming to Louisville. <br /> <br />Council member Yarnell noted the incentives are for future sales tax, not building <br />fees. She stressed the criteria for each proposal must be scrutinized. <br /> <br />Council member Muckle cautioned other existing small businesses may come <br />forward and request assistance. <br /> <br />There was Council consensus to direct Staff to proceed with the incentive <br />package. <br /> <br />Ms. Hogan stated a formal proposal will be forthcoming for the July 2, 2007 City <br />Council meeting. <br /> <br />JUNE ECONOMIC DEVEILOPMENT BRIEFING - BECKY HOGAN, EDGE <br />CONSULTING <br /> <br />Becky Hogan, EDge Consulting, 52 Steele Street, Denver, CO gave an update <br />on Economic Development activities for June. The Request for Proposals (RFP) <br />Process for market strategy for the Shop Louisville Campaign. BRaD Committee <br />