City Council Minutes 2008 05 06 - Laserfiche WebLink

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City Council Meeting Minutes May 6, 2008 Page 4 of 17 APRIL ECONOMIC DEVELOPMENT UPDATE Becky Hogan, EDge Consulting Becky Hogan, 56 Steele Street, Denver, CO updated Council on April's economic development in Louisville. The Shop Louisville Campaign is preparing for the Street Faire and working with businesses, the Downtown Business Association (DBA) and the City to coordinate efforts to promote the values of shopping locally and the desire for organic markets and the Farmer's Market. Assistant City Manager Balser arranged a visit to the City of Littleton Transit Oriented Development (TOD;I site. The Louisville Revitalization Commission (LRC) and the Business Retention and Development Committee (BRaD) will host a meeting in June, and the City of Littleton's Economic Development Director, Chris Gibbons, will be availak~le to discuss how a City prepares for a TOD site. Preparations have been made for International Council of Shopping Centers (ICSC) preparation and eleven appointments have been scheduled in one and a half days. Ms. Hogan, Mayor Sisk and City Manager Fleming will attend the conference. In recent retention visits with local property owners, owners reported property taxes have increased, however some of the lease rates have not gone up as quickly. BRaD will update Council on their activities at a future meeting. Ms. Hogan reported at a recent retention visit the business owner complimented Councilor Muckle for listening and communicating back. RESOLUTION No. 16, SERIES 2008 - A RESOLUTION APPROVING A BUSINESS ASSISTANCE ,AGREEMENT WITH LOUISVILLE MAIN STREET PARTNERS, LLC FOR THE: DEVELOPMENT OF 920 TO 940 MAIN STREET IN THE DOWNTOWN AREA OF THE CITY OF LOUISVILLE Becky Hogan, 56 Steele Street, Denver, CO explained Staff is recommending a Business Assistance Package (BAP) to Louisville Main Street Partners, LLC, for construction of a mixed use project resulting in new office and retail space located between 920 through 940 Main Street in downtown Louisville. She introduced Mr. Arlin Lehman of Louisville Main Street Partners, LLC. Mr. Arlin Lehman, 680 Johnson Street, Louisville, CO explained he is in partnership with realtor Tom McKenzie, to construct a mixed use project, which would provide new office, ret<~il space, and residential units. The investors were convinced the project had mE:rit and Council approved the proposed development. Due to econoric problems, both in the residential market and in retail, the project was put on Ihold. He explained with the BAP, the retailers would have incentives to lease space and the project could go forward. He stated they are committed to the project and plan to attend ICSC to find new retail occupants.