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BUSINESS RETENTION AND <br />DEVELOPMENT COMMITTEE <br />SUBJECT:ECONOMIC DEVELOPMENTUPDATE <br />DATE:MARCH4, 2013 <br />PRESENTED BY:AARON DEJONG, ECONOMIC DEVELOPMENT <br />Historic Grain Elevator–RFP responses were due on January 23, 2013. Two <br />proposals were received; one from Hartronft Associates in Louisville, and Olde Town <br />Group, LLC in Arvada. Areview teamhas been formed of the following people; <br />Heather Balser, Deputy City Manager <br />Troy Russ, Planning Director <br />Scott Robinson, Planning <br />Aaron DeJong, Economic Development <br />Mike Koertje, Historic Preservation Commission <br />Alex Gorsevski, Louisville Revitalization Commission <br />This team will help me form a recommendation which will go to the HPC and the City <br />Council for discussion and action.The following is the current timeline for evaluating <br />and presenting recommendations to the HPC and City Council; <br />1)January 31 –February 28, 2013 –Review proposals and conduct interviews if <br />needed <br />2)March 18, 2013 –Present recommendation to HPC <br />3)April 2, 2013 –Present recommendation to City Council <br />4)April -May2013–Develop agreement with selected applicant <br />Highway 42 Revitalization–A term sheet is being prepared to outline the terms of a <br />debt issuance for infrastructure improvements to facilitate redevelopment of the DELO <br />property and property adjacent to Highway 42.This term sheet will go to both the LRC <br />and City Council for review and approval in accordance with the Intergovernmental <br />Agreement between the City and LRC. <br />Phillips 66 Property–Phillips 66 has made the decision to sell the Louisville property <br />along US 36.The company chose CBRE as their realtor representation. Staff will <br />continue to monitor the activity of this property. <br />Pearl iZumi–The company has begun grading for the new headquarters building in the <br />CTC. The company intends to pull the building permit this week. <br />