Business Retention and Development Committee Agenda and Packet 2013 04 01

Home Browse Search

BUSINESS RETENTION AND DEVELOPMENT COMMITTEE SUBJECT: ECONOMIC DEVELOPMENT UPDATE DATE:APRIL 1, 2013 PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT Historic Grain Elevator – The City Council will provide direction to city staff at the April 2, 2013 meeting regarding the Grain Elevator RFP to secure a development partner for the property. The Historic Preservation commission did not recommend the developer approach for the stabilization phase of the project. They prefer the City do the stabilization work and continue to investigate financing options and costs. Highway 42 Revitalization – A term sheet is being prepared to outline the terms of a debt issuance for infrastructure improvements to facilitate redevelopment of the DELO property and property adjacent to Highway 42. 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 chose CBRE as their realtor representation. Staff will continue to monitor the activity of this property. City Staff has scheduled a few meetings with interested parties on the property. Benjamin West – Benjamin West, a furniture supplier to the hotel industry, is looking to construct a new 40,000 sf facility in the Colorado Tech Center. The City Council approved a Business Assistance Package for the company should they locate their operations here. The incentives include a 50% rebate of the city’s building permit fees and construction use taxes associated with the new construction project. Twelve Degree Brewing – The City Council approved a Business Assistance Package with Twelve Degree Brewing for improvements to Suite 1 of 820 Main Street (the former Imperial Fez location). The improvements include removing the front staircase to activate the front of the building. The incentives include a 50% rebate of the city’s building permit fees and construction use taxes associated with the improvements to the building. 333 – 335 Centennial – This 400,000 sf vacant office/warehouse building is now being actively marketed. The building has a long-term lease that ends in the next 2 years. Staff will be fielding interest for the building. Comprehensive Plan – The City Council is starting the final approval process for the nd Comprehensive Plan update. April 2 is the first reading of the Comprehensive Plan th would be final adoption should major changes not be needed. and April 16 5