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<br />City Council Business Retention & Development Committee <br />Meeting Minutes <br />December 3, 2007 <br />Page 2 of 5 <br /> <br />BRaD has experienced during the past year and that committee members need to begin <br />to think about a work plan for 2008. She suggested that the committee may want to <br />begin to look at the small businesses in Louisville and what BRaD can do to assist them <br />in staying viable in Louisville. <br /> <br />REAL ESTATE SUMMARY <br />Ms. Hogan presented the "Real Estate Summary" handout. She pointed out that CoStar <br />was used for the data represented in the summary. She pointed out that in there is <br />currently a 27% office vacancy rate in Louisville and the preferred vacancy ra . 12- <br />15%. Ms. Hogan discussed that Louisville does not have much single story <br />She indicated that because Louisville did not have a lot of land that proporti <br />in the City should not be compared to other cities. Ms. Hogan pointed out the I <br />cost for office space was stabilizing. She stated that the City wants maintain an <br />inventory to generate interest in businesses wanting to move to the . Ms. Hogan <br />pointed that retail will follow the number of rooftops in an area. <br /> <br /> <br />2007 HIGHLIGHTS <br />Ms. Hogan presented the "2007 Highlights" handout. She ted that the Business <br />Assistance Program (BAP) was becoming known to business developers. She <br />stated that last year there were businesses that c e into Louisville that were not given <br />assistance because either they didn't ask for assi e or the assistance would not <br />have been enough to make it worth while for them to through the process. Ms. Hogan <br />stated that in the future the committee should begin thin ing about what will be helpful <br />for the smaller business in Louisville. Ms. Hogan pointed out the BAP spreadsheet and <br />explained that this was developed to help track the current BAPs and future BAPs. She <br />also pointed out that the spreadshee not include Open Space or Impact fees. <br /> <br />BUSINES ETENTION SUMMARY <br />Ms. Hogan presented the "Business Retention Summary" handout. She stated that the <br />retention visits had been ceived by the business community. She said that BRaD <br />should continue the visits . She said the challenge would be talking to new <br />developers and business egin looking at what we have, what we can get and <br />what we want in L isville. e said that BRaD should begin looking and attending <br />various Trade S the region to explore other types of business and to introduce <br />Louisville to ne s. <br /> <br /> <br />Ms ogan talked abo the collaboration between the City, Chamber of Commerce and <br />wn Business Association. She said that in the future these relationships will <br />d that they should continue to work on the communication and interaction <br />nefit of local businesses. <br /> <br /> <br />Mr. Lathrop asked about the summations of Retention visit comments. Ms. Hogan <br />indicated that were a lot but if members wanted them, she suggested that they ask on an <br />individual basis and the summations would be provided. Mr. Keany suggested that they <br />could be send via email.Ms. Hogan agreed that was a good idea. <br /> <br />Mr. Lathrop said his concern is that the information and comments received from the <br />Retention visits will be set aside and nothing will be done. He felt that one of BRaDs <br />purposes should be an exchange of ideas and information. He felt that the comments <br />