City Council Study Session Summary 2008 05 27

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City Council Study Session Summary May 27, 2008 Page 4 of 7 BRaD, Chamber of Commerce and Downtown Business Association (DBA) o Development Projects - Kobel project (old State Farm building) is nearly leased and Giam has relocated o International Council of Shopping Centers (ICSC) Convention- Mayor Sisk, City Manager Fleming and Ms. Hogan attended the convention. They had 11 meetings with developers and 2 hotel developers. o Property values/assessments are higher which impacts the end user. As costs (property value, taxes, etc.) go up so does the tenants' costs (goods, gas, utilities). o Denver Metropolitan Luncheon - ConocoPhillips was named "Deal of the Year" o Promotech - Grand Opening June 12th o June 2nd BRaD meeting will have Chris Gibbons to talk about Transit Oriented Development (TOD) City Manager Fleming thanked Ms. Hogan for organizing the meetings at the ICSC convention. Councilor Muckle asked if they had met with Safeway and Lowes? City Manager Fleming said that they did meet with both. He said that the meeting with Lowes was very positive and that they had indicated that were committed to the site. Councilor Dave Calbots asked if there had been a discussion about when/if they open a Lowes in Lafayette. City Manager Fleming said that Lowes has postponed the Lafayette development and that Lowes indicated that they would not open a Lowes to the detriment of another Lowes location. City Manager Fleming said that the meeting with the Safeway representative was negative. He said that they said that they did not have any plans of doing anything to the store and it seemed as though they were giving up on the store. City Manager Fleming pointed out to the representative that the store manager felt that if Safeway invested in the location that they could turn it around. It was also pointed out to the representative that there were 700 new homes being built in Louisville and 700 in Lafayette, Balfour was expanding and additional residents and consumers with the development of FasTracks but it didn't seem to impress the representative. When the representative was asked what the City could do to assist Safeway the representative suggested that the City give 100% rebate on sales tax. Ms. Hogan pointed out that King Soopers was very happy to hear about the 700 new homes being built in both Louisville and Lafayette and the other developments. They had indicated that this will work well with their new marketing plan which includes more organic foods in larger stores.