Title
RESOLUTION APPROVING ECONOMIC DEVELOPMENT INCENTIVE FOR PETER DEFRIES CORPORATION
Body
Economic Development staff will present a request for incentives for a new company considering expansion into Commerce City. This request will first be presented to City Council in Executive Session for the purpose of determining positions relative to matters subject to negotiations concerning this incentives request. :
Staff Responsible (Department Head): Michelle Claymore
Staff Member Presenting: Michelle Claymore
Financial Impact: No financial impact at this time. Incentives have been estimated based on the company's stated capital investment. Actual incentive rebate amount will based on actual capital investment and business operations, as determined after the company is open for business.
Funding Source: Incentives will be funded as a rebate of certain fees and/or sales and use tax remitted to the city in conjunction with this project.
Staff Recommendation: Staff recommends approval of the proposed performance based incentives for Peter DeFries Corporation.
Suggested Motion: I move to approve Resolution 2015-98