City Council Minutes 2007 08 21 - Laserfiche WebLink

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City Council Meeting Minutes August 21, 2007 Page 4 of 9 50% permit fee rebates and 5~0% building use tax rebates (excluding open space tax). Mayor Pro Tem Brown supported the Business Assistance Proposal. He stated the proposal sends a strong message to developers that it is a good time to invest in Louisville. Council member Muckle supported business assistance proposals for the tenants, but not the developer. He noted the Council recently approved two requests for speculative flex buildings without requests for business assistance. Council member Clabots concurred and questioned the type of primary jobs being considered. He felt more information is needed to approve a flex space. Mayor Sisk agreed more information is needed. He supported incentives to the tenants as opposed to the developer and noted if the incentives go to the tenants there is an employment base assisted. Mayor Pro Tem Brown stated they signal being sent to the community is to get advocates to bring businesses to Louisville. He supported moving forward. Council member Yarnell voiced her concern over giving incentives to someone who already has ownership in Louisville property. She favored incentives for the end users. Ms. Hogan offered Council an option to allow Staff to move forward and make a presentation on September 4, 2007 regarding the proposal. The alternative of not moving ahead would be to terminate discussions. Assistant City Manager Balser explained Staff is requesting Council direction to move forward with negotiations and a proposal on September 4, 2007. Council directed Staff to proceed with negotiations and a formal proposal to be provided on September 4, 2007 for futt,ire review. There were no public comments. 2) PROJECT FRANK - Proposes a current tenant finish of approximately 24,700 SF of an existing industrial space at the CTC Center. The applicant proposes a capital investment: of $43,000, and to bring in 7 new jobs, with a potential of creating 70 new jobs over the next five years. The company manufactures prototype development and analysis. Staff recommended a Business Assistance PackagE; of $3,755, which is based on 50% permit fee rebates and 50% building uses tax rebates (excluding open space tax). PUBLIC COMMENT Carolyn Manzanares, Senor l"'s (Restaurant, 817 Main Street, Louisville, CO asked what type of business <~ctivities are being considered for incentives.