City Council Minutes 2013 04 16 - Laserfiche WebLink

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City Council Meeting Minutes April 16, 2013 Page 4 of 23 Mayor Muckle requested a staff presentation. Economic Development Director DeJong explained the request is for approval of a proposed Economic Development Business Assistance Package (BAP) for the relocation of a California business, Horizon Ag- Products L.P. Horizon Ag- Products is considering relocating their California operation to Louisville and bringing 20 positions to the new location and expanding to 40 employees within 5 years. Horizon is looking at other locations in Colorado, and in Texas and North Carolina. The wages for Horizon Ag- Products are higher than the Boulder County average wage, making this project eligible for City assistance. The company is interested in occupying 13,000 square feet at 1450 Infinite Drive in Centennial Valley. The company estimates $400,000 of tenant finish is needed to modify the space for their operations. Horizon plans to make a relocation decision in May 2013 and begin work soon after. The total fiscal impact would not exceed a total of 50% of the City's permit fee rebates and 50% building use tax rebates (excluding the 0.375 % open space tax, 0.125% Historic Preservation tax, water and sewer tap fees, and impact fees), or $5,600 whichever is lower, based on the tenant finish of approximately $400,000 for a 13,000 square foot tenant finish at 1450 Infinite Drive. Staff suggested the assistance be capped at 50% of the actual Building Use Tax plus Building Permit Fee paid, or $5,600, whichever is lower. Staff recommended City Council approve a Business Assistance Agreement with Horizon Ag- Products L.P. for the remodeling of existing space at 1450 Infinite Drive in the City of Louisville. APPLICANT PRESENTATION Brad Nichols, representing Horizon Ag- Products L.P, explained they are a science and research - driven producer of innovative plant health solutions. They specialize in naturally- derived health products for the agriculture industry and their technologies work to improve the performance of agricultural fertilizers through improved nutrient uptake efficiency. Horizon's plant health solution products are intended to help agricultural producers implement sustainable farming practices. They look forward to relocating to Louisville and appreciate the City Council's consideration of the Assistance Package. COUNCIL COMMENT Council member Jasiak voiced her appreciation to Horizon Ag- Products for considering relocating to Louisville. Mayor Muckle also thanked Horizon Ag- Products. MOTION: Council member Keany moved to approve Resolution No. 17, Series 2013, seconded by Mayor Pro Tem Dalton. Roll call vote was taken. The motion carried by a vote of 6 -0. Absent: Council member Yarnell.