Economic Vitality Committee Agenda and Packet 2023 08 18

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Economic Vitality Committee Meeting Minutes July 31, 2023 Page 5 of 7 Director Zuccaro stated that he's not sure of the potential impact on staff of allowing applicants to go through the process multiple times. He noted that the current ordinance is written with the expectation that there will be minimal staff effort. He posited that any upfront effort from staff could save time later in the review process. Chair Leh thanked staff for their work on the ordinance and noted that he is in support of the proposal and that it is a great start. Public comment from Mike Kranzdorf: Mr. Kranzdorf commented that he is in support of restricting the process to City Council. He noted that it could be difficult to interpret comments from two different groups. Chair Leh stated that Planning Commission will be busy with the Comprehensive Plan and thinks that they will welcome the opportunity to get feedback from City Council. Chair Leh closed the discussion. 8. Discussion/Direction- Proposed Amendments to Business Assistance Program (BAP): Manager Kroner gave an overview of the City's existing Business Assistance Program (BAP), information on the Aerospace industry in Colorado, and introduced some proposed amendments that would benefit the aerospace industry. In addition to the current incentives offered, Manager Kroner suggested that Louisville consider adopting incentives designed specifically to attract aerospace companies. These incentives include: • Rebates on Property for Use in Space Flight • Rebates on Purchases of Machinery or Machine Tools for Manufacturing • Rebates on Software and Associated Maintenance Agreements Councilmember Most asked whether these incentives would be able to offset or reduce the impact of housing costs. She noted that she has heard from companies that this is a concern. Manager Kroner responded that high housing costs is both a statewide issue and a national issue. She summarized that these incentives likely wouldn't address either high housing costs or high labor costs, but there could be additional incentives or city initiatives down the line that would address the affordable housing issue. Mayor Pro-Tem Fahey added that this may be a reason for the City to expand its affordable housing area and/or change zoning. Chair Leh noted that the aerospace companies in Louisville seem to need a lot of space and wondered whether Louisville can continue to provide building space or if they would be overpromising. Agenda Packet P. 6