HomeMy WebLinkAboutEconomic Advisory Commission - Minutes - 11/21/20121
Minutes
City of Fort Collins
Economic Advisory Commission
Regular Meeting
300 LaPorte Ave
City Hall
November 21, 2012
11:00 a.m. – 1:30 p.m.
For Reference:
Bill Timpson, Chair 493-3673
Council Liaison Wade Troxell
Josh Birks, Staff Liaison 416-6324
Wendy Bricher, Minutes 221-6506
Commission members present: Commission members absent:
Sam Solt Michael Kulisheck
Christophe Febvre Stu MacMillan
Jim Clark
Daniel Lenskold
Blue Hovatter
Channing Arndt
Bill Timpson
Guests:
Ann Hutchison, FC Chamber of Commerce
Wade Troxell, Councilmember
Mike Pruznick, Citizen
Jim Wells, Citizen
Staff Present:
Wendy Bricher, Minutes
Jessica Ping-Small, Sales Tax Manager
Josh Birks, Economic Health Director
Agenda Item 1: Meeting called to order
Meeting called to order at 11:02 a.m.
Agenda Item 2: Approval of Minutes
Unanimous approval of minutes dated 10/17/12
Agenda Item 3: Public Comment
Mike Pruznick presented information regarding his views on job skills mismatch vs. job demand issues.
He believes underlying system issues are not being addressed and that the urban producer/consumer
model is breaking down (rural self-sufficiency vs. urban self-sufficiency).
Jim Wells commented on the article related to the City’s role in Abound Solar’s failure and whether the
city should be subsidizing large businesses. Discussion included that the technology that was not proven
Financial Services
300 LaPorte Ave
PO Box 580
Fort Collins, CO 80522
970.221.6505
970.224.6107 - fax
fcgov.com
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or fully tested, and that the city’s contribution was in the building, not the company. Specific building
materials were determined by RMI2. Christophe Febre commented that RMI2 is all about innovation,
and that innovation involves risk. It is easy to look back and say “we shouldn’t have done it”. Bill
Timpson commented yes, and we have responsibility to look back for lessons learned.
Agenda Item 4: Follow-up Discussion Regarding Previous Meetings
Blue Hovatter provided a motion for the EAC to review regarding Crowd Funding. After thorough
discussion, the EAC agreed to continue exploring funding needs and processes, including capital access,
and what the City’s role should be. A revised motion may be considered at a later date.
The Economic Advisory Commission also revisited their recommendation regarding the Avago
expansion. The Commission agreed that the deal was good for the City and they would not change their
vote. Channing and Christophe commented that it is common to prosper innovation, yet scrutinize
failures. The EAC agreed that we should be working to build a sustainable system that will last with
transparency.
Christophe Febvre commented on the recent article regarding the mall and eminent domain. He is
concerned that the City may be walking into a trap as far as their image is concerned (business friendly).
Josh Birks commented that eminent domain is a tool often used to bring two parties together who have a
difference of opinion on market value . The EAC requested that eminent domain and the mall be
evaluated as a future agenda item.
Agenda Item 5: Member Updates/Future Agenda Items Discussion
Jessica Ping-Small provided the October sales tax update for October. Net taxable sales and use tax or up
12.5% and use tax is up 11.7% for the year. Internet sales tax collection continues to be a struggle;
however, we are watching Federal legislation moving forward. Starting in 2013, the sales and use tax
report will be changing to a collections-based focus. We will also start including information about
economic incentives and a better job of actuals to budget vs. year-to-year.
Agenda Item 6: 2013 EAC Work Plan
The Economic Advisory Commission completed their 2013 Work Plan. Five key areas were identified
including the Economic Health Strategic Plan, Midtown Corridor, Incubation Programs, Economic
Clusters, and the City’s role in Capital Access. New items include the airport and changing demographics
and their effects on Fort Collins.
Agenda Item 7: Chair/Co-Chair Elections
Postponed until the December meeting.
Agenda Item 8: Capital Access Work
Mike Freeman, Rocky Mountain Innosphere CEO, provided information regarding the Innosphere’s new
program to help local companies gain access to capital. He provided a summary of RMIs 2012
accomplishments including new companies, expanded programs, fund raising efforts and access to capital
for local companies. Getting companies up and running faster by offering these benefits can cut 6-12
months of building time. Primary funding paths for incubated companies include Angel, grants, revenue
strategic and venture capital. RMI’s strength is in the relationship with the companies and seeking the
funding expertise outside of the company. RMI is seeking the City’s endorsement of this concept and
agreeing that it is a good idea for the overall economy. The Economic Advisory Commission agreed to
continue to explore this idea as well as other roles and processes the City can be involved with to promote
Economic Health in Fort Collins’ future.
Meeting adjourned at 1:32 p.m.
The next meeting is scheduled on December 19, 2012 from 11:00 a.m. – 1:30 p.m.
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CIC Room, City Hall