Title
RESOLUTION APPROVING ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE CITY OF COMMERCE CITY AND STANDARD ALCOHOL COMPANY OF AMERICA, LLC.
Body
Economic Development staff will present a request for approval of business incentives to Standard Alcohol Company of America, LLC. The company is an authority and emerging producer of advanced, mixed alcohol products. Commerce City is one of the communities being considered for a production plant.
Staff Responsible (Department Head): Michelle Claymore
Staff Member Presenting: Michelle Claymore and Michelle Hill
Financial Impact: $600,000
Funding Source: Incentives will be funded as a rebate of 50% of sales and use tax (3.5%) and building permit and plan check fees collected in association with this project.
Staff Recommendation: Staff recommends approval of this incentives request
Suggested Motion: I move approval of Resolution 2014-88 approving economic development incentive agreement between the City of Commerce City and Standard Alcohol Company of America, LLC. .