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Mayor Sisk requested a Staff presentation. <br />28 <br />City Council <br />Meeting Minutes <br />September 1, 2009 <br />Page 4 of 11 <br />The Post Office acquisition and rental opportunities <br />The Economic Development Strategic Plan <br />The Front Street parking lot acquisition <br />Participating in planning of Metro Denver Site Selection Conference <br />Business Retention and Development (BRaD) and Louisville Revitalization <br />Commission (LRC) meetings <br />Business Retention meetings conducted in July and August (10) <br />Research of current businesses to build database <br />Maintain collection of broker's brochures of available space <br />Interacting with Downtown Business Association and Chamber of <br />Commerce <br />Maintain relationships with commercial brokers <br />Monitor Santa Fe Grille building foreclosure /building sale <br />Responding to Metro Denver marketing leads <br />Responding to all leads for new businesses <br />Updating the economic development website <br />Establish a list of all city fees and charges <br />Conducting a Xcel workshop on energy efficiency <br />Attending Housing Authority Meetings <br />She referenced the Economic Development Strategic Plan, which was developed <br />by City Manager Fleming and Ms. Star. She invited Council to the Metro Denver <br />Site Selection Conference on Friday, September 25, 2009 from 8 to 9 a.m. She <br />addressed the feedback received from business retention visits and reported <br />they support the business community. Mayor Sisk reported on a recent business <br />retention visit a local company announced they planned to expand their current <br />operations. <br />DISCUSSION /DIRECTION /ACTION PROPOSED 2010 LOUISVILLE <br />REVITALIZATION COMMISSION (LRC) BUDGET <br />City Manager Fleming explained the Cooperation Agreement approved by City <br />Council and the Louisville Revitalization Commission in December of 2006 <br />requires the LRC to submit their annual budget for review and approval by <br />September 1. The 2010 request has been significantly reduced from prior years. <br />The LRC concluded 2010 expenditures should not exceed revenues to the Urban <br />Revitalization District Fund. Early estimates of the projected assessed valuation <br />were approximately $29,560 for property tax increment and interest revenues. <br />Consistent with the estimate, the LRC allocated $23,990 to cover a portion of the <br />Economic Development Director's salary and $5,570 for legal services. New <br />estimates from Boulder County are in the $40,000 range. Staff recommended <br />Council defer action until final estimates of Urban Revitalization District Funds <br />