Economic Vitality Committee Agenda and Packet 2021 09 24

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SUBJECT: STRATEGIC PLAN ITEM #1-3 DATE: AUGUST 20, 2021 PAGE 5 OF 8 Valuation: 77$24200 Building Permit Fees (See A) . PIanRevie�. Fee (See S) Boulder County Use Tax (See Q $59.10 City of Louisville Use Tax (See D) TOTAL BUII DP G FEES $219.00 S677.40 Sustainability Goal #5 of the Strategic Plan is targeted at green practices and improved environmental sustainability for our business community. Although there are several proposals provided, it is likely this is an area that still requires more evaluation to better understand the opportunities ripe for impact. Staff likely needs more feedback from businesses about how they can be incentivized to undertake new, sustainable practices. Outside of the Business Assistance Program, there may be more individual, programmatic opportunities where specific incentives on sustainability could be offered to businesses. Lastly, this is an area where staff needs to also consider capacity. Any incentives related to sustainability may require data, tracking, or reporting that we do not currently have a platform to offer. One concept that may be feasible in our existing structure is to evaluate incentive stacking related to Xcel Energy's existing programs. The City of Westminster supports businesses in stacking incentives on top of what they are eligible to receive from Xcel Energy, up to an amount of $5,000 per business. This would be a way to take advantage of a systematized program where Xcel already has program requirements and performs all the verifications. The stacking simply provides additional incentives to make the improvements. Importantly, Xcel Energy could provide reporting to the City that would make verification and rebates possible. Another proposal is to further reward participants of and recruit new applicants to the City's Green Business Program. There are currently about 37 program participants between the eligible levels of Bronze, Silver, and Gold. This is an existing program which is administered by Partners for a Clean Environment (PACE), in collaboration with City staff —which provides access to data and a verified process. Businesses achieving one of the program levels reflects investments in sustainable practices and a desire to improve the health of the environment. For an existing business that is expanding and seeking incentives, the City could offer a Green Business Bonus to either achieve program recognition or enhance the level of certification. For a new business applying for incentives, the City could offer a similar bonus if the company achieved Green Business Program certification within two years of opening. Transportation Agenda Packet P. 17