City Council Study Session Agenda and Packet 2009 05 12

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SUBJECT: BUSINESS RETENTION SUMMARY DATE: JANUARY 6, 2009 • Appreciated the outreach efforts by the BRaD and Council • Reinvestment in existing shopping centers will require higher sales. Higher sales will require additional population in the trade area. Without higher density, the need increases substantially for assistance (incentives) from the City to be able to redevelop properties along the South Boulder Road corridor, as the "gap" does not constitute the reinvestment • Economic conditions have significantly impacted the current retail market. Property in aging retail centers has reduced in value. Owners looking to sell their property, are holding on to it waiting for the market to bring back the value of the property • Businesses that provide home improvement related sales are seeing a decline in business, due in part because of the lack of construction in thie area • Retail businesses would like to be informed of other development activity • The number of sales transactions are consistent, but the amount of the sale has reduced • Businesses are looking for opportunities to be involved and visible in the community • Need for additional traffic to the retail businesses • Future need for additional parking downtown • Good business provides good customer service • Business should pay it's own way • Would like to see Louisville remain a small town, with quality service amenities • DBA does a lot for businesses downtown • City needs to do a better job listening to small business and understanding their needs are different from large corporation • Concerned that future redevelopment will require the businesses move or close • Businesses may no longer be able to afford land in the City (due to current land prices) or that their "type" of businesses may be no longer desired in Louisville • Improve traffic access and movement within the urban renewal area • Property taxes (particularly county tax) have increased to the point that the owners of the property are required to subsidize a portion of the triple net costs to keep tenants in the building • Businesses supports use tax on personal property, as long as it is assessed for everyone and payment is enforced • Concerned that commuter rail will create a future parking problem downtown, which will effect individual businesses (no where to park to access their business) • The existing Flood plain affects a number of businesses along Front Street, which result needing to provide flood plain insurance a high rates • New management, of an existing business, providers a means to become more involved in the community (an opportunity for the Chamber and the DBA) • Increased bus service to CTC • Local business need to find ways of capturing revenue from the Conoco Phillips development • For small businesses looking to expand in the City, the process is difficult to understand, long and expensive • Encourage a police presence around existing businesses so that employers and employees feel safe From primary or major employers: • Some of the major employers are providing "in house cafes" as an amenity for their employees • The cafes are subsidized by the company and are contracted out for operation • Anew employer was pleased with staff interaction during the entitlement process • Property tax to operate in Louisville was significantly less than in surrounding areas in Boulder/Broomfield counties, which makes the cost of operating a business advantageous