City Council Minutes 2007 04 04 - Laserfiche WebLink

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City Council Meeting Minutes April 4, 2006 Page 3 of 9 Land Management Director Robson explained this year the City of Louisville will participate in the "Seven in Seven" Campaign, seven thousand trees planted in seven days, which is part of Denver Mayor Hickenlooper's million tree program. City Forester Chris Lichty will organize the event. Mayor Pro Tem Brown arrived at the meeting at 7:11 p.m. Council member Clabots thanked the Horticulture and Forestry Advisory Board, Land Management Director Robson and City Forester Chris Lichty. DISCUSSION/DIRECTION - BUSINESS INCENTIVE PROPOSAL Becky Hogan, EDge Consulting Services, 56 Steele Street, Denver, CO reported the Staff is requesting feedback on whether to proceed with negotiations for a business assistance package. The project has been identified as Project Beta, which is a global technology company looking to constructing a 65,000 SF specialized data center. Integral to their site selection and relocation plan is the potential for business incentives. The Company plans to employ approximately 35 people, with an average wage of about $65,000 a year. Project Beta plans to invest $40.4 Million Dollars in this project. The Company has narrowed its search to one site in Louisville, a site in metro Denver and a site in Texas. Staff recommended a base of 50% rebate on building fees, excluding impact fees and water and sewer tap fees. They also recommend a 50% rebate on construction use tax, excludingl the open space tax. The Business Assistance Package would not exceed $3(36,673. Staff requested direction as to the types of incentives, if any, the City Council would be willing to discuss with this prospect. Interim City Manager Balser stated the Staff supports the Incentive Proposal. Council member Sackett voiced his support of proceeding with the negotiations. Council member Muckle asked how much the City would receive from this company if a use tax was in place. Ms. Hogan stated the company projects spending $37 Million Dollars in the first five years, which will be a $1.3 Million Dollar loss to the City due to no collection of use tax. She noted the City's lack of a use tax is also an incentive for this company to locate in Louisville. Council member Muckle stated the project would require more plan review and building inspectors and the City will have to fund those positions. Overall, he voiced his support of the incentive package. Mayor Sisk supported the proposal and stated the City will benefit from this proposal. He noted Louisville is one of three cities being considered.