Fillmore council approves one‑year CoStar subscription to support economic development

City staff asked the council to approve funding for a CoStar commercial real‑estate research subscription to support economic development, downtown revitalization and business attraction.

Staff described CoStar as a database with property ownership, vacancy, rent and tenant‑intelligence data and said the tool would help staff more quickly identify property owners, lease expirations and potential leads for business recruitment. The vendor's pricing options included $10,320 for a one‑month subscription or a discounted annual rate for multi‑year commitments; staff recommended a 12‑month term.

Councilmembers asked detailed questions about how CoStar collects lease and tenant information, whether data depends on voluntary business reporting, data‑sharing limitations, and how the city would measure return on investment. Several councilmembers said they supported a cautious trial. "Let's try it out for one year and see if we do get a return on investment," one councilmember said; the mayor and others agreed.

Motion and outcome: The council approved a one‑year CoStar subscription by voice vote, with the motion carried unanimously. Staff recorded that the contract will be evaluated after the trial year to determine continued funding and potential alternatives such as applying funds to downtown signage or other promotional tools.

Next steps: Staff will execute the one‑year subscription, begin using CoStar data for downtown outreach and grant preparation, and return with metrics after the trial period to assess whether the subscription produced demonstrable leads or measurable increases in vacancies filled or sales‑tax revenue.