Business Retention and Development Committee Agenda and Packet 2012 10 01

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BRAD / ECONOMIC DEVELOPMENT UPDATE OCTOBER 1, 2012 AARON DEJONG, ECONOMIC DEVELOPMENT Former Safeway Site – Developer Jim Loftus has resubmitted a development proposal to the City for the former Safeway site. The proposal includes 110-120 market rate apartments and 32,000 square feet of commercial. The main prospective tenant of the commercial space is Alfalfa’s Market out of Boulder. City Staff is working with Alfalfa’s on an incentive package for them to locate within the project. Former Sam’s Club Property – Staff has been in contact with representatives at Walmart regarding the former Sam’s Club property on McCaslin. The Director of Building Dispositions will be visiting Louisville this month to discuss the property. CTC Metropolitan District – The Metro District encompassing the Colorado Technology Center has completed a refinancing of their debt with lower interest rates. This refinancing has opened up funding to assist in improvements in the area. Highway 42 Revitalization – Redevelopment interest in the Highway 42 Revitalization area is picking up. The Louisville Revitalization Commission (LRC) is conducting a financial analysis of its ability to assist in infrastructure improvements to remove blight. Downtown Updates – A mock-up of new Main Street patios are scheduled to be available for viewing in late October to get input from downtown businesses and residents. CIP Manager Diana Trettin is heading up the project and working towards a spring completion of the new patios. The patios are being designed with the goals being they are easy to move and store, minimal maintenance, and last 10-20 years. Grain Elevator – Staff is developing a timeline for next steps to move the revitalization of the Grain Elevator property.A public meeting to obtain ideas from residents for uses of th the property is scheduled for Thursday, October 4 at 7pm in the City Council Chambers. This meeting will provide input for a new RFP. This RFP is planned to be approved in November 2012. The closing on the property is scheduled for the week of November 12, 2012. Business Retention Visits – Staff has met with several primary businesses over the last few months. Overall, the outlook for business in the future is strong with several companies anticipating growth in the next 1-3 years.