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Ci*ty{)f LOUISVILLE REVITALIZATION <br />Louisv111e COMMISSION <br />COLORADO • SINCE 1878 <br />SUBJECT: STAFF UPDATES <br />DATE: AUGUST 23, 2023 <br />PRESENTED BY: APRIL KRONER, AICP, ECONOMIC VITALITY MANAGER <br />AUSTIN BROWN, ECONOMIC VITALITY SPECIALIST <br />SUMMARY: <br />In the following, staff provides business and property updates related to activity within <br />the Highway 42 Urban Renewal Area. <br />Business Assistance Program (BAP) Updates <br />• City Council approved a Business Assistance Agreement with Shamrock Foods <br />Company on July 11. Shamrock plans to open a new grocery store that will <br />occupy 28,190 SF of vacant space at 785 E South Boulder Road (the former <br />Alfalfa's). Since the property has been vacant for more than a year, Shamrock <br />also received a vacancy bonus incentive. <br />Economic Vitality staff has proposed amendments to the City's Business <br />Assistance Program (BAP) in an effort to further support the retention and/or <br />expansion of businesses in the aerospace industry within Louisville, to be known <br />as `Enhanced Assistance for the Aerospace Industry'. The proposed amendments <br />were reviewed by the EVC at their July meeting and are scheduled to go to City <br />Council for 1 St reading on September 5t" and 2nd reading on September 19t", 2023. <br />URA Property Updates <br />Last week I received an inquiry from someone interested in purchasing the Empire <br />building. They inquired about the potential for financial assistance that may be available <br />to help support the purchase and/or building renovations. I have provided them <br />information on potential assistance options for consideration/further exploration. I will <br />wait to hear from them if they want to pursue any applications/action. <br />Business Openings and Closings <br />None. <br />Concept Plan Review Process <br />During its August 10 hearing, Planning Commission approved Resolution 16, Series <br />2023 recommending to the City Council approval of an ordinance amending Title 17 of <br />the Louisville Municipal Code regarding the establishment of a Concept Plan Review <br />process. The Concept Plan Review process was presented to the EVC during its July <br />meeting. First reading of the resolution is currently scheduled for the September 5t" City <br />Council meeting, and second reading is scheduled for October 2nd. <br />Agenda Packet P. 11 <br />