Affordable commercial space

Don't put your things here. Thanks Paul.

maybe a map of high-risk areas can help small businesses make decisions that do I want to sign a five-year lease in this place

starting with affordable commercial space, the owner has to maintain at least 2,000 square ft of affordable leasable space

these covenants, the affordable commercial space, public accessible space, arts and cultures, diversity, energy performance

Let's look at capping third party delivery fees, providing commercial rent relief, or better yet, working towards a vacancy tax on unused commercial properties

A vacancy tax proposed for uh commercial rent shot down.

I encourage you uh in particular to look at the challenges skyhigh rents present small businesses owners.

because I think there are enough guardrails to prevent industrial displacement and small business displacement

It supports commercial activity in residential areas and helps create more opportunities for affordable commercial spaces.

many commercial property owners are refusing to lower rents and keeping them artificially high

High commercial rent unpredictable utilities and when Xcel turns our powers off at my restaurant

certainly the commercial space in different areas. I get at some of that implementation devils in the details.

there are opportunities to use commercial space for, like, pop-ups and things like that.

From the Chamber's perspective, this is not simply a land use decision. It is an economic sustainability decision.

research and a paper with recommendations on the issue of open commercial space and how that can be utilized

Vacant space that's affordable, basically, for Corporate retailers only.

we actually did the first affordable commercial program with the city, and we're about 60% lease there

Um our affordable commercial program pilot um is well underway

there's 7,500 square feet of affordable commercial space. Anyone knows? They're very beautiful.

I would assume their rents are pretty reasonable, given the nature of the plaza

My comment was around unused commercial space, and I would love to see, the city being more supportive

The cost of rent for a commercial space is too high

when I heard that excitement from Council in response to one public comment on commercial spaces

how do we take this vacant commercial space and make it useful?

supporting affordability by encouraging the creation of affordable commercial commercial space

even with Grant, with subsidies of paying landlords, ultimately, you're just giving that money to the landlords

vacant commercial space. And I'm very interested in pilot programs of the Sros and Dorm like space

we're really hoping to do more and more affordable commercial programs which have an impact in revenue

address commercial affordability through a pilot grant program that helps offset the cost to develop and maintain commercial spaces

So you know, small business tenants. And I know this has been an issue in Boulder.

They have a loan program for small businesses to acquire their buildings.

for the empty commercial space here and in other areas in boulder, and that there are ways to do temporary special use cases

our meeting explored the adaptive reuse of commercial spaces into a range of housing from transitional to market rate.

Is the affordable commercial a requirement for this land for like land use,

We've talked a lot about affordable commercial, also acknowledging that we want to make sure we're maintaining our access

help address a gap in the market for more affordable commercial space and an opportunity for small businesses to thrive

High commercial vacancy rates and the affordability of commercial space with more work to be done

an affordable commercial Grant pilot program was recently launched providing $850,000 in Grants to help address a gap in the market for more affordable commercial space

That talks about having the commercial space be in the city's affordable commercial rate program.

Page 132 in the packet proposes that the commercial space that's on 30th Street there be available at affordable commercial rates offered by the city.

commercial redevelopment should strive to incorporate ground floor spaces suited to small business shared business spaces

have also funded an affordable commercial pilot project brand for making space available at lower cost for folks

addressing things like that and incorporating more programs like that affordable commercial

I wasn't at the last meeting. So I don't know what where we stand with that affordable commercial program is

our desire for a small affordable commercial space that's not their mission

They're excited to be considered in a recent city of boulder, affordable commercial pilot grant program

Just like citizen curiosity, these affordable commercial grant programs. You said you got 5 applications.

and we're budgeting for a future phase of affordable commercial.

Applications were scored on the following criteria. So supports for local small businesses

to address a gap in the market for more affordable commercial space

maybe focus on the affordable commercial and affordability.

Affordable commercial is much more. you know. We're more tethered to that.

the applications. We got scored very highly. We're very excited about moving forward with them

the General Building form you know is a more traditional type of of building that would allow up to four or five stories

I raised the question of both the 50% residential requirement and the production business requirement in large buildings

I wouldn't want to make it harder for small businesses to remain in this area

this space to the southwest would be the affordable commercial. That's what we're currently thinking.

a local small business focus, impact and feasibility which includes affordability.

So last week we launched an affordable commercial Grant pilot program. and the purpose is to help address a gap in the market

our affordable commercial pro program to property owners and small businesses and other types of initiatives.

you could say a retail space of equal or greater size or something like that or a commercial space

adding back in commercial space comes with its own parking requirements

I would also recommend that as part of that motion you ask that plans be revised to um to show retaining of that commercial space

we're also just launched an affordable commercial pilot. It's a project that's mainly centered around downtown

you can see here with the affordable commercial program, we've had that as an ongoing budget allocation

Everybody in the city looks I see affordable commercial stops after next year.

I think I have another question on the affordable commercial.

So we're hoping to be an investor in a bigger concept as opposed to having somebody come in and just do affordable commercial

there's some, you know, affordable, retail, affordable commercial pilot

commercial rents in that area are about a third of that.

we are using CAD dollars to implement a affordable commercial pilot program that will benefit minority owned businesses within Cajun.

concerns for affordability of commercial space and subc communities ability to support small businesses

More work is happening on the affordable commercial pilot program

You know, we really need a affordable retail.

on the affordable commercial pilot program. So you'll be hearing more about that moving forward

I think that as we explore the affordable commercial pilot program that will be happening

There's no movement that is part of the conversation, certainly, for these commercial spaces

the development of our affordable commercial pilot program

The American Rescue Plan Act dollars in support of an affordable commercial program.

the affordable commercial program development. This is something that I've been personally tracking each time

there's a concern for affordability of the commercial space in East Boulder and its future ability to support small business space

There's definitely a concern about affordability of commercial spaces

If you are offering affordable commercial space, how do you pick the winners and the losers

understand how that Community or the affordable commercial program is going to be piloted for a five-year time frame

Community Vitality is standing up this affordable commercial program and so are there opportunities there

those larger commercial spaces are typically only affordable to National retailers and other kind of larger chains

to develop an affordable commercial pilot program. This work will really kick off in 2024, and it's it's mostly separate

I had one question because this happened since our last meeting on page 15 of the agenda, under affordable commercial.

This includes the affordable commercial development program. I guess it's a in the last consent, agenda.

So that idea of creating smaller parcels in in some capacity is still moving forward.

encouraging or incentivizing small parcels to provoke smaller, more affordable commercial spaces

Had a good conversation with the community connectors about again supporting small businesses and ensuring that there's a portable community commercial space

space for emerging and small businesses in the form of reduced rent tenant Improvement contributions and technical assistance

the city has leased commercial space to small businesses non-profits Arts organizations at below Market rates

the idea of affordable commercial has been called out in existing City plans

There are empty spaces up there, and they are more reasonable than downtown spaces.

anything we can do to support more small businesses and create more affordable commercial space

the affordable commercial program development updates

retaining some of the small buildings and spaces for small business owners

would be open to small businesses as an affordable commercial space

we're going to be having a conversation with Council on August 10th regarding our affordable commercial pilot program

Commercial maybe the affordable commercial program development.

Part of the community benefit for doing something like this is to preserve some commercial space for the neighborhood

So it sounds like the plan is their market rate. They're small. They're shared

they will be small, and they will be shared, and they will be market rate

it's not because I misled the community and said, yeah, we're going to make this affordable commercial space

I think we're at $400,000 in change of funds identified for support of an affordable commercial program.

so it can be used by businesses that are small or start up minority owned

providing affordable commercial space in Prime space is is going to be challenging because it's not affordable

affordable commercial this has come up a lot in the vision plan is is affordability what can we do to support that

let's see next a topic again we've talked about a lot over the years affordable commercial program development

because it does sound like she's subsidizing commercial spaces.

our occupancy rates are so low on ground floor. Our rents are still very expensive.

If some of the vacancies here to stay in terms of trends harder to have small business, no office space really need it.

one of the things that you know we talk about is affordability. And how do we approach the portability in the commercial space

we have our our work with the C real estate center on the development of an affordable commercial pilot program

Community objectives include without limitation affordable housing affordable commercial space space for the arts community gathering space, public art

there was a line item it was a line item for 380 thousand dollars for more affordable commercial spaces

would include 380 000 to create more affordable commercial spaces

there's basically a little section of affordable commercial and a cafe

surrounded by residential dwelling units and then there is commercial affordable commercial space and a cafe, or restaurant proposed

they also identified both in in the 22 engagement session and the 21 challenges to finding affordable commercial space with in Boulder

it includes not just housing, but also a commercial space for artists that could be studio space things like that

can you explain to me a community benefit when it comes to commercial properties

it would offer technical assistance to determine their specific approach to address this long-term affordable commercial space needs

long-term affordable commercial space needs um we're anticipating that that first phase would include some some dollars

we heard from many of the nonprofits and the focus groups that affordable commercial space they had affordable commercial space challenges

putting a stronger emphasis on creating or maintaining affordable commercial industrial space

my sort of counter argument is also the community benefit for the i think for the commercial space is largely about trying to keep existing businesses

we do not have any imminent affordable commercial work plan elements

whether we can keep the industrial and commercial spaces affordable as these uh areas become more

to help with navigation and commercial space opportunities

the mix of venues affordability for artists and organizations to rent them and what new venues we should bring online

okay so but but nothing specific into the agreement about of affordable commercial

we did not specifically discuss affordability affordable commercial space and the negotiations

recently Council looked at an affordable commercial um recommendation from staff

including expanded and pilot programming in affordable commercial expansion of our micro loan program

in the short term i mentioned some work in affordable commercial spaces we are looking at expanded pilots essentially for that

expand and pilot affordable commercial programming for small businesses looking at ways to reduce overall costs for businesses

As well as human services, as well as affordable, commercial and yeah

we have true affordable commercial as the coffee shop Art Space and Library will only be responsible for utilities

have a problem with a lack of affordable commercial space for small businesses

we're now going to dedicate to the affordable commercial enterprise

option two is the exploring the creation of a capital program for affordable commercial space

instead of trying to shoehorn Affordable commercial in a brand new building um let's see if we could instead create a fund

use it for payment to keep a um affordable commercial space affordable in an ongoing manner

to change gears we already have an affordable commercial Community benefit

the development includes 25% permanently affordable housing the proposed requires a review by planning board

if you have you you know small businesses or uh businesses that need the help in the same building

replacing the commercial linkage fee um with either inl or um with uh affordable commercial

moving over to a question about the affordable commercial space

this is not talking about affordable commercial as eighty percent of um uh

for more affordable commercial space or for residential space

properties actually could trigger uh the termination of this affordable commercial space that was the suggestion they made

why would a change in use for adjacent properties um mitigate the requirement that that we maintain affordable commercial space in this project

and to tackle the affordable commercial space discussion in light of the community benefits program

an 80% threshold for uh 80% of fair market value rent as what would constitute affordable rent for this commercial space

a declaration about uh a linkage fee and about affordable commercial rent are a little atypical issues

with the inclusion of affordable commercial a significantly enhanced public Plaza

we continue to be committed to exemplifying what dynamic affordable commercial space could look like in this prominent location

strategies and to um pilot affordable commercial efforts which are some of the goals that the council had

do we need a penalty if we simply bar the leasing of the space outside of the program

the soul of the program is supposed to be very small business

the reason that the affordable commercial became a part of 30 perl is because we had been lobbied by several different groups

some live work units affordable commercial perhaps a coffee shop uh some affordable telecommuting space

creating development, if you'll remember on quadrant one we're going to be getting some affordable commercial space as well

let's look at the Redevelopment of our commercial spaces as they exist and as they've already been built

as we lose all of the light Industrial and Commercial space around our city we're losing access for Artisans welders

ADDITIONALLY THE ABOUT WHAT THE AFFORDABLE COMMERCIAL IS ABOUT AND THE RETAIL STUDY THAT WE WERE LOOKING ABOUT

WHAT WE'RE EXPERIENCING NOW COVERED WITH THE BCS REALLY STRONGLY FOCUSED ON AFFORDABLE COMMERCIAL SPACE FOR SMALL BUSINESSES

AFFORDABLE HOUSING AFFORDABLE COMMERCIAL SPACE AND SPACE FOR THE ARTS AND NON NON PROFITS

expanding the availability of smaller more affordable retail spaces

they want us to have an emphasis on both affordable housing and affordable commercial opportunities in properties

everything from affordable um commercial space to maybe space for nonprofit

so it's commercial space only commercial spaces the rest is market rate

AFFORDABLE COMMERCIAL AND IS THAT IS FIGURING HOW THAT WOULD WORK

MAKES ANY OTHER COOL THINGS LIKE AFFORDABLE COMMERCIAL OR

obviously durable housing affordable commercial space space for the Arts public art a number of other things

IT'S GOT A CO HOUSING AND CO OP COMPONENT OR PERMANENTLY AFFORDABLE COMMERCIAL

ALSO GOING TO HAVE AFFORDABLE COMMERCIAL SPACE BUT IT'S NOT FALLING UNDER THE THIS PILOT PROGRAM

AND THAT THERE IS A PILOT PROJECT TO BE ADMINISTERED BY COMMUNITY VITALITY AND RESTRICTS COMMERCIAL RENTS TO SEVENTY FIVE PERCENT OF THE PREVAILING RENTS

the small business is that we've been looking at have less than 50 employees okay so it's not a square footage no

RAISED A REALLY GOOD POINT ABOUT MARKET RATE AFFORDABLE COMMERCIAL SPACE

COULD WE INCLUDE THE DESIGNATION OF AFFORDABLE COMMERCIAL THAT HELPS KEEP SMALL BUSINESSES IN PLACE

AFFORDABLE COMMERCIAL INDUSTRIAL AND RETAIL SPACE FOR SMALL BUSINESS OWNERS

what I would hate to see is incentivizing property owners to redevelop and thereby do that reasonably priced commercial space

and hoping to find ways to provide affordable business space

opportunities to create more affordable commercial space we will go into more detail on these last two items

continuing to build on city efforts to maintain affordable commercial in ways that dovetail

these were to maintain affordable commercial space and also to promote a vibrant retail base

square footage of commercial space x percent of which has to be affordable

I would just like to raise the possibility of permanently affordable commercial space

supporting affordable commercial space within the context of the city's core values

to try to create more affordable commercial I think there is a lot of opportunity for that

trying to define what is affordable commercial space and then once we have figured out what it is

IT'S CREATING THOSE AFFORDABLE COMMERCIAL SPACES FOR SMALL BUSINESSES

BECAUSE IF YOU DID AFFORDABLE COMMERCIAL AND THE AFFORDABLE HOUSING ON SITE MAY BE THAT RETAIL REQUIREMENT

OF COURSE CREATING AFFORDABLE COMMERCIALS IMPORTANT AND THAT'S A GOOD THING TOO

Our intention is to have affordable commercial space here but the amount of commercial space will

if it's going to refocus on affordable commercial aren't they like wouldn't they be completely different skill sets

is that affordable commercial is to be more the focus of our economic vitality

IN THE LOSS OF AFFORDABLE HOUSING AND BUSINESS SMALL BUSINESS SPACE THAT WE DEVELOPMENT

looked at what could we expect in terms of affordable commercial space

putting a maximum rent on the space for commercial retail space

requiring them to provide the affordable commercial space because they had more units in the same footprint

very closely followed by affordable commercial space and as much as I love the gazebos

about 7% of the floor area being a deed restricted affordable commercial space which in this case is about 10,000 square feet

making sure that we don't displace say small businesses that might be there

like you know we started to look at commercial affordable commercial and how do we foster that

if the more rooftops are built then they get to a certain tipping point and then all the retail follows

question or comment it's on affordable commercial space and it has to do with your potential tenants

work closely with the working group at city staff to figure out a very creative way to make permanently affordable to commercial space

our intention as we stated in the proposal is that 21,000 square feet of affordable commercial space permanently affordable