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<br />City Council <br />Meeting Minutes <br />October 6, 2009 <br />Page 9 of 16 <br /> <br />COUNCIL COMMENTS <br />Mayor Sisk noted Mr. Martinelli's renovation costs have gone up from $90,000 to <br />$120,000 and suggested raising the assistance package to be capped at <br />$85,000 rather than $70,000. <br /> <br />Councilor Muckle asked if the fireplace will be preserved during the renovation. <br />Mr. Martinelli confirmed it would be preserved. <br /> <br />Councilor Muckle suggested n3bating the building fees and use tax instead of <br />rebating sales tax. Mayor Sisk requested the sales tax rebate to be consistent <br />with other restaurant Business Assistant Packages. <br /> <br />Economic Development Director Star reported the owners of the Waterloo <br />Icehouse and the Empire Grill are supportive of a new restaurant coming into the <br />downtown area. <br /> <br />MOTION: Councilor Sackett moved to approve Resolution No. 31,2009, with the <br />amendment to increase the cap on BAP to $85,000, seconded by Councilor <br />Dalton. <br /> <br />Councilor Muckle offered a friendly amendment to extend the deadline for <br />opening the restaurant to JunE~ 1, 2009. Councilors Sackett and Dalton accepted <br />the friendly amendment. <br /> <br />VOTE: Roll call vote was taken. The motion carried by a vote of 7-0. <br /> <br />RESOLUTION No. 32, SERIES 2009 - A RESOLUTION APPROVING A <br />BUSINESSS ASSISTANCE AGREEMENT WITH INTERTEK FOR THE <br />OCUPANCY OF NEWLY CONSTRUCTED SPACE AT 195 CTC BOULEVARD <br />IN THE COLORADO TECH CENTER IN THE CITY OF lOUISVlllE <br /> <br />Economic Development Director Star explained Resolution No. 32, Series 2009, <br />authorizes an economic development business assistance package (BAP) for <br />Intertek, an electrical testing firm looking to move to Louisville from Boulder. <br />Intertek performs electrical product safety testing, EMC testing and benchmark <br />performance testing. They are the largest such provider in the world and employ <br />over 10,000 people. Intertek is considering approximately 30,000 SF of newly <br />constructed space from Etkin ,Johnson Group at 195 CTC Boulevard in Colorado <br />Tech Center. The assistance will be funded by permit fees and construction use <br />tax from the tenant finish of thEl existing space. It is estimated Intertek will <br />generate new revenue over $32,000 from building permit fees in the first year of <br />operation. Based on the estimated revenue projection, Staff recommended the <br />following proposed assistance: <br /> <br />Building Permit-Fee Rebate <br /> <br />$ 6,250.00 <br />