City Council Minutes 2015 03 03 - Laserfiche WebLink

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City Council Meeting Minutes March 3, 2015 Page 4 of 24 Rogue Wave Software will bring 80 new jobs to Louisville and possibly expand to 110 employees in 5 years. The wages are above the Boulder County Average. Staff anticipates $900,000 in tenant improvements ($28,000 paid in City Permits Fees and Construction Use Tax). $2,500 of the amount is for Open Space and Historic Preservation purposes. The proposed assistance consists of the following: 50% rebate of City Building Permits Fees = $6,200 value; 50% rebate of Construction Use Taxes = $6,700 value. The Incentives are capped at 50% of fees paid. Staff recommendation: Staff recommended the City Council approve Resolution 12, Series 2015. APPLICANT PRESENTATION David Goossen, General Counsel for Rogue Wave Software, explained the company has been in Boulder since 1995. The main reasons for relocating to Louisville are to assist with recruiting and retention efforts. They found the Louisville location a very attractive alternative. Mayor Muckle voiced his support for the Business Assistance Package. He proposed rebating the entire construction use tax ($6,700). He noted the City is interested in attracting businesses in Centennial Valley. Council member Loo supported the full rebate of the construction tax. She encouraged Rogue Wave Software's new home to be Louisville and noted the employees will love the site. Council member Leh noted Mr. Goossen lives in Louisville and knows the value of this property and would do his best to convince Rogue Wave Software to relocate to Louisville. MOTION: Council member Loo moved to approve Resolution No.12, Series 2015, seconded by Mayor Pro Tem Dalton. Mayor Muckle offered a friendly amendment to increase the construction tax rebate from 50% to 100 %. Council member Loo and Mayor Pro Tem Dalton accepted the friendly amendment. VOTE: Roll call vote was taken. The motion carried by a vote of 7 -0. NON - PROFIT GRANT PROGRAM — FINANCE COMMITTEE RECOMMENDATIONS FOR 2015 (AMENDMENT FOR IMAGINE FOUNDATION)