City Council Minutes 2020 02 18 - Laserfiche WebLink

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City Council Meeting Minutes February 18, 2020 Page 5 of 18 Vote on substitute motion. All in favor. RESOLUTION NO. 13, SERIES 2020 — A RESOLUTION APPROVING A BUSINESS ASSISTANT AGREEMENT WITH LINMARK, INC. FOR AN ECONOMIC DEVELOPMENT PROJECT IN THE CITY OF LOUISVILLE (COAL CREEK ACE HARDWARE) Economic Vitality Director Megan Pierce stated Linmark, Inc. plans to open Coal Creek Ace Hardware. Linmark, Inc. is still negotiating to lease the space at 1375 East South Boulder Road. This site is currently unoccupied. The company projects retail sales at $11.1 million in first five years of operation and it plans to hire 10 to 15 employees at opening and grow to 20 to 25 jobs within five years. Director Pierce stated the BAP meets the following program criteria: draws new customers; creates new sales tax; utilizes an existing building; brings new basic jobs to the City; represents job diversity; and brings a new retail outlet. Director Pierce reviewed the proposed 40% rebate of sales tax revenue generated over the first five years. It also requires the tenant remain in the location for 10 years or they must repay a portion of the rebate. Public Comments — None. Mayor Pro Tern Maloney moved to approve Resolution 15; Councilmember Lipton seconded the motion. Voice vote: all in favor. CITY ATTORNEY'S REPORT None. COUNCIL COMMENTS, COMMITTEE REPORTS, AND IDENTIFICATION OF.FUTURE AGENDA ITEMS ADVANCED AGENDA — Mayor Stolzmann noted there will need to be an executive session for property acquisition on March 3. Mayor Pro Tem Maloney moved to add an agenda item to March 3 to appoint Mayor Stolzmann and Councilmember Dickinson to attend the 2020 convention of the International Council of Shopping Centers on behalf of the City Council; Councilmember Brown seconded — All in Favor. Councilmember Brown would like Council to consider changing some of the standard language to be more inclusive.