Business Retention and Development Committee Agenda and Packet 2010 10 04

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BRaD Meeting Summary September 7, 2010 Page 2 of 2 Peter Stewart, member of the Historic Preservation Commission – Addressed the group on how the HPC is an economic development tool for the City by fostering small businesses, businesses can leverage state and federal funds, money recycles back into the community, and quality of life improves by reusing existing buildings. Peter referred to an analysis by the Clarion Associates showing how property values are influenced by historic preservation. When an area is designated as historic preservation the real estate values increase more rapidly than in other areas. BRaD members added that they would like to review the study themselves and so a copy of the analysis will be provided by email to BRaD members after the meeting. BRaD member pointed out the Main Street in Georgetown is a good example of a Main Street where some federal funds were put into some of the building renovations, however, some lease rates were increased once the building was improved and classified historical. Another member went on to say that we can’t compare ourselves to other areas of the country. Another said that the history of Louisville is ours to maintain, and another “revitalization is fun to see.” REVIEW OF 2009 STRATEGIC PLAN/SWOT ANALYSIS Various comments were offered to update the Economic Development Strategic Plan and the document will be updated and included in the packet for the October meeting. RETENTION VISITS OVERVIEW: myDials – This is a management consulting firm. They compile information into databases that they use to advise businesses. Hardworking group focused on their work. They expressed concern about the Use Tax. Foundation Wellness Center and Firiel – small service group concerned about lack of exposure at their current location. Discussed how to best market their company. Staff recommended that tenants of the building talk to the property owner about signage. Vertical Solutions – Small group of 5 employees. The company makes coatings for micro-chips such as a coating that would waterproof , for example, a cell phone. The company is happy to be in Louisville and concerned about the Use Tax. They would also like to see a trail from CTC connecting to downtown Louisville. Naxcer Composites – This retention visit will be rescheduled. AUGUST ECONOMIC DEVELOPMENT BRIEFING Bonnie distributed articles to the group about Trader Joe’s, published in Fortune Magazine on August 23, 2010, and then also a copy of an article regarding The Vault that appeared in the Daily Camera.