City Council Agenda and Packet 2021 08 03

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City Council Meeting Minutes July 13, 2021 Page 4 of 11 feet; proposed expansion would allow the business to occupy 29,500 square feet. Studio Shed employs 40 people and hopes to be able to grow to 70 employees with expansion. The project meets the business assistance criteria by retaining basic jobs to the City; retaining existing Sales Tax to the City; creating new Sales and Use Tax; utilizing an existing building; and representing job diversity in industry sectors and is part of a growing industry. The proposed agreement includes a 50% rebate of Building Permit Fees and Construction Use Tax, capped at $3,500 and a proposed 50% rebate on new Use Tax over a five-year period, capped at $18,000. The project must be completed by August 30, 2022 and the business must remain in Louisville for seven years or a percentage of rebates received must be repaid. The total impact over five years is estimated at $20,693. Staff recommends approval. Public Comments - None MOTION: Councilmember Dickinson moved to approve Resolution No. 45, Series 2021; Councilmember Fahey seconded the motion. VOTE: Motion passed by unanimous roll call vote. RESOLUTION NO. 46, SERIES 2021 — A RESOLUTION APPROVING 1) A PLANNED UNIT DEVELOPMENT AMENDMENT AND SPECIAL REVIEW USE TO ALLOW CONVERSION OF A PORTION OF THE EXISTING BUILDING TO INCLUDE UP TO FIVE DWELLING UNITS AND A NEW RESIDENTIAL DEVELOPMENT WITH THREE DWELLING UNITS, AND 2) A FINAL PLAT TO CONSOLIDATE LOTS, FOR PROPERTY LOCATED AT 950 SPRUCE STREET AND 725 FRONT STREET; LOTS 1, 2 AND A PORTION OF LOT 3, BLOCK 3, TOWN OF LOUISVILLE Mayor Stolzmann introduced the item and asked for any disclosures; seeing none she opened the public hearing. Director Zuccaro stated this request includes a Planned Unit Development (PUD), a Special Review Use (SRU), and a final Plat to consolidate lots into one parcel. He reviewed the history of the site. The proposal includes a conversion of the 2nd floor of 950 Spruce to allow 3-5 residential units, adding storage and decks at the rear of the building, adding three row homes on Front Street, and providing 25 off street parking spaces with a fee in lieu for the remaining one to two spaces. The applicant is asking for one waiver to allow home occupation signs for the row homes as this is a commercial area. He reviewed how the residential areas would be configured within the commercial areas. He noted the SRU for the second floor residential uses would be revoked if the entire second floor goes without residential use for more than a year, but if any units on the second floor were continually used that the SRU would remain, allowing for up to 5 residential units on the second floor. 10