Economic Vitality Committee Agenda and Packet 2023 08 18

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L: Cityof ECONOMIC VITALITY COMMITTEE Louisville COLORADO • SINCE 1878 SUBJECT: STAFF UPDATES DATE: AUGUST 18, 2023 PRESENTED BY: APRIL KRONER, AICP, ECONOMIC VITALITY MANAGER AUSTIN BROWN, ECONOMIC VITALITY SPECIALIST SUMMARY: In the following, staff provides updates on recent activity related to core economic vitality functions. Business Assistance Program (BAP) Updates The proposed amendments to the city's BAP, which were discussed at the last EVC meeting, are scheduled to go to City Council for 1st reading on September 5th and 2nd reading on September 19th, 2023. Property Updates 916 Main Street (Radiance MedSpa) • The third -party financial review of the proforma for the proposed Radiance MedSpa project is currently being conducted by Environmental and Planning Systems (EPS). This review will evaluate the need for possible direct assistance funding to assist with any funding gaps to make the project feasible. It is anticipated the review will be completed by the end of August and will then go to the LRC for consideration, and if assistance is recommended the item will be brought to the City Council for consideration as well. 1116 W Dillon Road • Planning received an application for a PUD Amendment to rebuild the commercial property at 1116 W Dillon Road. The PUD Amendment includes a proposed increase in height. This property was destroyed in the Marshall Fire in December 2021. Ice Rink Update EV staff is working with the LRC and City Attorney to prepare the following: • Cooperative Agreement between the LRC and the City for the ice rink operations for the 2023-24 season; and • LRC budget amendment to fund the remaining portion of the ice rink equipment purchase and even operations for the 2023-24 season, as well as cover the anticipated electricity cost to operate the rink Agenda Packet P. 9