Business Retention and Development Committee Agenda and Packet 2013 02 04

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BUSINESS RETENTION AND DEVELOPMENT COMMITTEE SUBJECT:ECONOMIC DEVELOPMENTUPDATE DATE:FEBRUARY 4, 2013 PRESENTED BY:AARON DEJONG, ECONOMIC DEVELOPMENT Historic Grain Elevator – RFP responses were due on January 23, 2013. Two proposals were received; one from Hartronft Associates in Louisville, and Olde Town Group, LLC in Arvada. I will be getting together a review teamof the following people; Heather Balser, Deputy City Manager Troy Russ, Planning Director Scott Robinson, Planning Aaron DeJong, Economic Development Mike Koertje, Historic Preservation Commission Carlos Hernandez, Louisville Revitalization Commission This team will help me form a recommendation which will go to the HPC and the City Council for discussion and action.The following is the current timeline for evaluating and presenting recommendations to the HPC and City Council; 1)January 31 – February 28, 2013 – Review proposals and conduct interviews if needed 2)March 11, 2013 – Present recommendation to HPC 3)March 19, 2013 – Present recommendation to City Council 4)March – April 2013 – Develop agreement with selected applicant Highway 42 Revitalization – The LRC has received and reviewed an application for assistance from DELO, LLC for assistance in providing infrastructure improvements to remove barriers to development in the core area of the Highway 42 Revitalization Area. The LRC provided direction to staff to begin preparation of a term sheet outlining the main points of the LRC borrowing funds for infrastructure improvements and repaying those funds through future tax increment revenues from property adjacent to the new infrastructure. This term sheet will go to both the LRC and City Council for review and approval in accordance with the Intergovernmental Agreement between the City and LRC. Phillips 66 Property – Phillips 66 has made the decision to sell the Louisville property along US 36.The company is now deciding its real estate representation. Staff is encouragingPhillips 66 and itsbroker to coordinate with the City to ensure any potential buyer understands the developmentconstraints onthe site.Staff will continue to monitor the activity of this property.