Business Retention and Development Committee Agenda and Packet 2012 08 06

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TO:BRaD Committee FROM:Aaron DeJong, Economic Development Director DATE:AUGUST 6, 2012 SUBJECT:ECONOMIC DEVELOPMENT UPDATE Below are short updates projects the Economic Development Department is working on. USDA Grant –The USDA has awarded a $19,000 grant to the City for conducting a study on the viability of a food-centricbusiness incubator. Bonnie Star applied for the grant in April, 2012. Staff has been working with Jeff Greenberg of the Kitchen Coop to develop an RFP to hire a consultant to do the study. Phillips66–Phillips 66 leadership continues to focus on other areas of the organization at this time and has not yet determined the next steps for the Louisville property. Staff is coordinating with the State Economic Development Office and the Governor’s Office to continue to work with Phillips 66. SEAKR Engineering –The company is planning an expansion of their metro area footprint with a location in the CTC at 1795 Dogwood. Their initial hiring will be 40 employees, but plant to grow to 200 within three years. A Business Assistance Package is scheduled to be awarded at the August 7, 2012 council meeting. New commercial buildings at Steel Ranch–RMCS and the Art Underground plan to each build new buildings at the commercial pad at the Steel Ranch subdivision. Art Underground is planning to move their non-profit operations to the new building and RMCS is planning a speculative retail building for multiple tenants. A Business Assistance Package is scheduled to be awarded at the August 7, 2012 council meeting. New building at 638 Taylorin CTC–Based on the growing demand for space in the Colorado Technology Center, Charles Ogsbury and Deepika Avantiare constructing a new 12,500 SF multi-tenant building at 638 Taylor Avenue. Downtown Updates–A new business, the Singing Cook, will be opening on the 700 block of Main Street. The Downtown Business Association continues to have a successful Street Faire season. Interest has been picking up for interest of new retail in the downtown area.A two- year lease has been executed with Altan Alma Organics and Radcliff Upholstery for the property on Front Street. Altan Alma plans for increased use of the front yard by installing SUBJECTAGENDA ITEM ECONOMIC DEVELOPMENT UPDATE