City Council Agenda and Packet 2019 11 04

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City Council Meeting Minutes October 15, 2019 Page 4 of 10 contingent upon the creation of up to 1,000 net new full time jobs at a minimum average annual wage equal or greater to the average annual wage in Boulder County. The company will need to maintain those for over one year before any credits become available. James Driessen, Vice President of Medtronic Global Facilities, noted Medtronic and their employees have been in the Colorado area for nearly three decades supporting the mission to alleviate pain, restore health, and extend life. They have been a member of the Louisville community for many years and know it is a great place to live and work. He noted Medtronic looks forward to evaluating the potential of increasing their presence in Louisville. He appreciated Council's consideration of this assistance package and hoped the relationship can continue. Public Comments Don Brown, 505 Grant Ave., stated he thinks this was a wonderful opportunity for the City of Louisville. Medtronic has been a great part of this community. Incentive plans can be challenging but he felt this fits right. If is conditional on performance directives that must be met, high wage jobs, high volume of jobs and likely spinoffs from this organization. He encouraged Council to move this forward. Mark Oberholzer, chairman of Business Retention and Development Committee (BRaD), said BRaD feels the business assistance packages are a good tool to encourage businesses to come to Louisville and they encourage Council to use the tools as they see fit. Maxine Most, 640 W. Linden St., stated she doesn't think there was a cost benefit for the City and asked if any analysis had been done. She wanted it considered with hard data not just feelings and ideas. Council Comments Councilmember Maloney appreciated the public comments and emails. One suggested an article to read and it talked about when assistance packages actually pay off. The property being considered has been vacant for a long time and this will pay off. He felt this was the right type of opportunity to encourage with business assistance. Councilmember Leh recited the criteria for proposed business assistance packages. He felt this met many of the criteria and thought it would bring high paying jobs, growing industry, and other communities in Colorado would support this. He thought it would be a mistake to think Medtronic would come to Louisville without this assistance package. This is not a land use decision which will be measured by different criteria. This is not an amount of money that will come out of the General Fund; this will be rebates with some exclusions of certain taxes. The rebates will only be given when the City sees the money. 24