City Council Minutes 2008 04 15 - Laserfiche WebLink

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City Council Meeting Minutes April 15, 2008 Page 8 of 10 MOTION: Councilor Muckle moved to approve of Award of Listing Agreement for Damyanovich Home Property to Steve Anderson of Remax Alliance of Louisville, seconded by Councilor Yarnell. All in favor. Absent: Councilor Clabots. DISCUSSION /DIRECTION -BUSINESS ASSISTANCE PROPOSAL - PROJECTJONAH Becky Hogan, EDge Consulting, 56 Steele Street, Denver, CO explained the City Staff is seeking Council direction on a Business Assistance Proposal (BAP). The request is for a BAP to encourage construction of a mixed use project resulting in new office and retail space in downtown Louisville. The entire investment in the project is $6.5 million dollars, from which 15,000 SF will be new retail. Staff requested direction on what incentives, if any, the City Council would consider for this prospect and whether Staff should move forward in negotiations. Staff recommended a 40% rebate ~on incremental sales tax over a four year period to be capped at $90,000. Four years or $90,000, whichever comes first. PUBLIC COMMENT John Leary, 1116 LaFarge Avenue, Louisville, CO voiced his concern over using taxpayer's money for the BAF' confidential financial analysis, but not releasing the information to the public. He was also concerned over the poor quality of the financial analysis and the amount of the City Attorney's time it will take to make a legal analysis. Mayor Sisk aslked City Attorney Light to address Mr. Leary's concern. City Attorney Light :stated this is not an action item and it will come back before Council with a specific proposal and itemized financial information. With respect to confidential rriemos, the executive session laws do not permit Council to discuss these proposals in executive session for the purpose of instructing negotiators. He noted the executive session law is not co-equal with the public records law. The open records law grants the right to treat certain documents as confidential; including attorney/client privilege, work product privilege and when persons who provide information request it remain confidential. City Manager Fleming explained the City Council has established a BAP program under certain parameters. Staff reviews the proposals and the parameters of the BAP and discusses what incentives, if any could be offered. Council direction is requested on whether Staff should spend any more time on this particular application. COUNCIL COMMENT Councilor Muckle voiced his preference for a Staff presentation on the BAP and eliminating Council discussion and direction. He suggested the confidential