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City Council <br />Meeting Minutes <br />March 15, 2016 <br />Page 4 of 17 <br />RESOLUTION NO. 14, SERIES 2016 — A RESOLUTION <br />APPROVING A BUSINESS ASSISTANCE AGREEMENT WITH <br />ACCURENCE, INC. FOR AN ECONOMIC DEVELOPMENT <br />PROJECT IN THE CITY OF LOUISVILLE <br />Mayor Muckle called for a staff presentation. <br />Deputy City Manager Balser noted Accurence, Inc. develops and maintains mobile and <br />desktop applications for insurance and contractor companies in the roofing industry. <br />Products assist adjusters and contractors in estimating and scoping projects. <br />— Founded in 2005 and has evolved into a software -as -a- service (SaaS) model for <br />the roofing industry. <br />— Jacob Labrie, President <br />Project is to relocate their headquarters <br />— Seeking 18,000 SF in the Northwest corridor. <br />• Currently located at 11030 Circle Point Road in Westminster. <br />• Interested in 305 S. Arthur Avenue <br />— 18,000 sf new construction project proposed by Etkin Johnson. <br />• 59 new jobs to Louisville <br />— Within 5 years, projected to be 71 employees <br />— Wages significantly higher than Boulder Co. average wage <br />• $750,000 in tenant improvements within new building. <br />$27,500 in City Permit Fees, Construction Use taxes <br />— $1,900 is for Open Space and Historic Preservation purposes <br />Proposed Assistance: <br />• 50% rebate of City Building Permit Fees <br />$5,400 value <br />• 50% rebate of Construction Use Taxes <br />$5,600 value <br />• Incentives capped at $11,000. <br />Council member Leh noted Accurence is a client of his, recused himself and left the <br />meeting. <br />Deputy City Manager Balser continued with the presentation. <br />• Considering locations in Westminster and Broomfield <br />• Lease rates for locations are significantly less than 305 South Arthur <br />— 108th and Wadsworth, Broomfield ($12.86 psf NNN) <br />— 11030 Circle Point, Westminster ($15.00 psf NNN) <br />