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City Council <br /> Meeting Minutes <br /> March 20, 2012 <br /> Page 3 of 10 <br /> No items to report. <br /> REGULAR BUSINESS <br /> RESOLUTION No. 19, SERIES 2012 — A RESOLUTION APPROVING AN AMENDED <br /> BUSINESS ASSISTANCE AGREEMENT WITH PEARL IZUMI USA, INC. FOR THE <br /> CONSTRUCTION OF A NEW COMMERCIAL BUILDING IN THE COLORADO <br /> TECHNOLOGY CENTER IN THE CITY OF LOUISVILLE (Staff requests continuance <br /> to 04/03/12) <br /> Mayor Muckle requested a Staff presentation. <br /> Economic Development Director Star explained the applicant; Pearl iZumi USA, Inc. has <br /> requested the amended Economic Development Business Assistance Package (BAP) <br /> be continued to April 3, 2012. <br /> MOTION: Mayor Muckle moved to continue Resolution No. 19, Series 2012 to April 3, <br /> 2012, seconded by Councilor Loo. All were in favor. Absent: Councilor Jasiak. <br /> RESOLUTION No. 22, SERIES 2012 — A RESOLUTION APPROVING A BUSINESS <br /> ASSISTANCE AGREEMENT WITH QUANTUM CORPORATION FOR THE <br /> OCCUPANCY OF EXISTING VACANT SPACE AT 1172 CENTURY DRIVE OR <br /> SIMILAR LOCATION IN THE CITY OF LOUISVILLE <br /> Mayor Muckle requested a staff presentation. <br /> Economic Development Director Star explained City Council action is requested on a <br /> proposed economic development business assistance package (BAP) for Quantum <br /> Corporation. Quantum currently occupies office space in Boulder. They are nearing the <br /> end of their lease and considering their options. The Louisville site is 20,000 square feet <br /> at 1172 Century Drive in the Centennial Valley. Other sites in Louisville are also being <br /> considered, along with sites in Broomfield, Boulder and Lafayette. Quantum plans to <br /> make their decision within 4-6 weeks, and will invest approximately $550,000 to <br /> renovate the vacant space and take occupancy during the second half of 2012. Staff <br /> recommended a combination of building permit fees and building use tax rebates, which <br /> would be capped at 50% and not exceed $9,000.00. <br /> APPLICANT PRESENTATION <br /> Mike Vlaanderen, representing Quantum, stated their lease in Boulder expires at the <br /> end of August and they are downsizing their space. The company believes 1172 <br /> Century Drive would be a great fit and they are excited to return to Louisville. <br /> MOTION: Mayor Pro Tem Dalton moved to approve Resolution No. 22, Series 2012, <br /> seconded by Councilor Sackett. Roll call vote was taken. The motion carried by a vote <br /> of 6-0. Absent: Councilor Jasiak. <br /> • <br />