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L <br />Louisville <br />COLORADO • S1NC N - <br />BUSINESS RETENTION AND <br />DEVELOPMENT COMMITTEE <br />SUBJECT: <br />DATE: <br />ECONOMIC DEVELOPMENT UPDATE <br />FEBRUARY 5, 2018 <br />PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT <br />Assistance Agreement proposed for Inovonics <br />Staff is recommending approval of a Business Assistance Agreement for Inovonics <br />Corporation to expand their Louisville operations at their existing facility at 397 S. Taylor <br />Avenue in the CTC. The Company expects to retain 75 employees and grow to 85 from <br />the reinvestment of $1,000,000 in leasehold improvements. sistance includes a 50% <br />rebate of building permit fees and 50% rebate of construction taxes on building <br />materials. Total rebates are capped at $15,000. <br />Inquiry activity up in 2018 <br />Staff is working on 5 potential business relocatio d n projects in Louisville. <br />The potential projects could bring over 200 new pri • .yer jobs to town. <br />Downtown Patios for 2018 <br />Looks as though all the patios (including 3patios) have been requested by <br />downtown restaurants for the 2018 seasworking on license agreements for <br />each restaurant. We are also workin. i ate Dept. of Liquor Enforcement to <br />seek simplification in the licensing <br />Balfour Expansion Underway <br />Balfour began constru <br />Town. This will add <br />57 unit assisted living facility on Plaza Drive in <br />for living offering on Balfour's campus. <br />