City Council Agenda and Packet 2013 05 07 - PG 113 - ATTACHMENT #4

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Economic and Market Assessment City of Louisville, CO Implementation and action program EXISTING ECONOMIC DEVELOPMENT INITIATIVES In order to inform recommendations for the implementation and action program, an assessment of existing economic development initiatives and other relevant activities must be conducted. Business Assistance The City of Louisville provides assistance to qualifying businesses to aid companies in locating to the City and to encourage substantial expansion of existing businesses. Business assistance is typically customized to the needs of the company and/or situation. Business assistance may be in the form of the following, or combinations thereof: • Building permit fee rebates • Construction use tax rebates • Sales and/or use tax rebates (if applicable) Rebates are based on the new dollars generated by the project at move-in and/or over the first five years of operation. Business Retention Program Representatives of the City meet with at least 40 businesses in Louisville a year to create awareness of the City's economic development efforts and offer assistance. Business Recruitment Program The City utilizes commercial real estate resources to track available buildings and property for business prospects. A representative of the City attends the annual International Council of Shopping Centers Global Retail Real Estate Convention to prospect for retail tenants. Highway 42 Revitalization Area Urban Renewal Plan The purpose of the Highway 42 Revitalization Area Urban Renewal Plan is to stimulate growth and reinvestment in an area that is otherwise underutilized and disinvested. The Urban Renewal Area contains 265 parcels and comprises approximately 200 acres. A combination of residential and non- residential uses is proposed, with densities comparatively higher than other residential neighborhoods in the community. 35