City Council Agenda and Packet 2013 03 19

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City Council Meeting Minutes March 5, 2013 Page 3 of 14 Creek Meals on Wheels site for a tour of the facility. After the tour those who are interested may help the volunteer drivers deliver meals to Louisville residents. Lunch will then be provided at the Brooks Café at the Louisville Recreation/Senior Center. She thanked Council for proclaiming March as National Nutrition Month. Community Resource Coordinator Diane Evans and Richard Cohen, Brooks Café Meal site Participant and Volunteer were also present. She introduced the President of the Coal Creek Meals on Wheels Board Kathy Klepak. Coal Creek Meals on Wheels Board President Kathy Klepak thanked Council for their support. She stressed the significance of the program is the social aspect as well as the food taken to people who can no longer get out. RESOLUTION No. 11, SERIES 2013 — A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT WITH BENJAMIN WEST, LLLP AND AVADAN, LLC FOR THE CONSTRUCTION OF A NEW FACILITY AT 428 CTC BOULEVARD IN THE COLORADO TECHNOLOGY CENTER IN THE CITY OF LOUISVILLE Mayor Muckle requested a staff presentation. Economic Development Director DeJong presented the proposed Economic Development Business Assistance Package (BAP) for the relocation of Benjamin West, a supplier to the hospitality (hotel) industry. Benjamin West was founded in Boulder in 1998 and has offices around the world. Benjamin West is a sister company of an existing Louisville employer, Audit Logistics, which specializes in freight, routing, and warehousing for the hospitality industry. The proposed business assistance is a three-party agreement. It is similar in nature to others recently granted, and includes a partial rebate on both the building permit fees and construction use tax for a new 40,000 square foot facility at 428 CTC Boulevard in the Colorado Technology Center (CTC). Benjamin West has 40 employees in the Lafayette location and anticipates growing to 60 within 5 years. The company's average wages are above the Boulder County average. Audit Logistics is located at 258 South Taylor in the CTC and has 40 employees, but also plans to grow to 60 within the next five years. Their average wages are above the Boulder County average. AvaDan, LLC, an entity related to the ownership of Benjamin West, would construct a 40,000 square foot building to meet the needs of Benjamin West and lease it to them. Construction costs for the building are estimated at $3.1 million. The company is also considering an existing building in Boulder. Should the Boulder location be selected, both Benjamin West and Audit Logistics will relocate. The assistance would be funded by permit fees and construction use tax from the construction of the new facility. City staff estimates Benjamin West will generate new revenue of approximately $84,000 from building permit fees and construction use taxes directly to the City in the first year of operation, given an investment of $3.1 million for 26