City Council Study Session Agenda and Packet 2009 05 12

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SUBJECT: BUSINESS RETENTION SUMMARY DATE: JANUARY 6, 2009 • Need to improve bus service to business park areas within Louisville, specifically during morning, evening, and lunch time • Lack of quick service restaurants in downtown during lunch hour • Like the business friendly work climate in Louisville • Fast growing company need room to grow quickly • There is limited office space (over 5,000 s.f.) available in downtown for companies wishing to expand and remain downtown • Appreciate the outreach and communication efforts from the City • Want to know the timing of Fastracks • RTD is holding up other development for an entire Hwy. 42 area • Desires to do mixed use development, but density limitations and access provide significant challenges in the urban renewal area • Small businesses need to market effectively on a small budget • Downtown businesses need to stay open longer if they ever want to build the business Comments and observations: • The current economic market will be extremely challenging to service oriented businesses • Over all people are pleased to own and operatE; a business in Louisville • Communications have improved between the business community and City leadership • Larger businesses are looking to provide employees with amenities on site • There is need to improve public transportation (aka RTD bus service) to the existing business parks in Louisville • Businesses in the urban renewal area are all waiting to see what happens with Fastracks • A multi-model transportation plan will increase connectivity FISCAL IMPACT: No capital out lay was incurred by the program RECOMMENDATION: Continue the retention program in 2009.