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Business Retention & Development Committee <br />Meeting Minutes <br />September 17, 2014 <br />Page 2 of 5 <br />John Leary <br />Chris Leh <br />APPROVAL OF AGENDA — Agenda approved as presented. <br />PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA: <br />None <br />CENTENNIAL VALLEY DISCUSSION WITH KOELBEL DEVELOPMENT: <br />Chair Hank Dalton introduced Buzz Koelbel and Jeff Sheets of Koelbel Development. The <br />BRaD Committee and community members were interested to hear how Mr. Koelbel and Mr. <br />Sheets see the Centennial valley area fitting in the Denver Metro Market as it relates to office <br />and retail vacancies in the area. <br />A series of questions were asked and general discussion ensued. The questions and Mr. <br />Koelbel and Mr. Sheets comments are summarized here: <br />How do you see the Centennial Valley area fitting in the Denver Metro Market as it relates to <br />Office? <br />Companies looking for office space are not site specific. Companies looking for retail space are <br />very site specific. <br />The dynamic has changed; people no longer come to Louisville to shop as retail has evolved. <br />There are more choices for shopping now in Boulder County. <br />McCaslin is auto oriented. It is a commuter place. <br />Centennial Valley is 30 years old. The zoning is also 30 years old. If an area is static too long, it <br />is not successful. <br />Since the recession there has been a psychographic shift in how people think and what they <br />want is different. Generation X, Generation Y, Millennials want to work, recreate and shop in the <br />area where they live. The dynamics are changing rapidly. <br />"Retail follows rooftops" Mr. Sheets recalled when he was the Director of Marketing at Denver <br />CTC from 1985 — 1991 he tried to attract amenities. The attempt was unsuccessful until multi <br />family was allowed in the area. Louisville needs residential. <br />Centennial Valley has a wall around the business park with no amenities. <br />