Councilmember Rainey asked how many businesses are anticipated for
economic development in this area. Ms. Fabos stated there are five
businesses currently in the queue. Johnna Reeder Kleymeyer, President
and Chief Executive Officer, Colorado Springs Chamber of Commerce
and Economic Development Corporation (EDC), identified the number of
prospective organizations interested in this location and the competitive
nature of other jurisdictions.
President Pro Tem Risley asked if these potential contracts would be
dead in the water if utilities were not completed on this site. Ms. Reeder
Kleymeyer confirmed they would.
President Pro Tem Risley recommended staff move forward with this
project as soon as possible.
Councilmember Henjum requested additional information regarding how
all of this came about. Ms. Reeder Kleymeyer stated in the past, CSU
would not build utility infrastructure until there was a prospective client,
but the demand of the region’s growth over the past few years has
necessitated this change in providing infrastructure to incentivize
development because they could not meet the demand as fast as the
City was growing. She stated three and a half years ago, the Chamber
and EDC became more assertive with diversifying the economy with not
only residential, but also primary industry which exports outside a region,
and the money comes back to the region to support the secondary
businesses such as coffee shops and healthcare. Ms. Reeder
Kleymeyer identified they have closed approximately ten to fifteen
prospects a year over the past three years, they have filled in most of
the existing properties which were greenfield/brownfield and Peak
Innovation Park is the largest landmass the City has which is zoned
industrial, commercial, and heavy industrial, but currently the utility need
cannot be met there. She stated they have prospects but they will not
win them if the City is not working hard to close the projects due to the
state adding more business regulation, and that it is more expensive to
live in Colorado.
Councilmember Henjum asked how much it would cost the City if the
customers did not come to Peak Innovation Park. Ms. Fabos stated it
would cost approximately $58 million to build the CSU substation.
President Pro Tem Risley asked how much the City would need to
invest at the beginning. Mr. Franklin stated CSU would need an initial
deposit of $2.8 million and then an additional investment over the
following four years.
Councilmember Henjum asked when Peak Innovation Park was created.
Ms. Fabos stated 2009.
President Pro Tem Risley stated the City would benefit from the money
generated from the revenue generated from the jobs and property taxes