Title
RESOLUTION APPROVING BUSINESS INCENTIVE FOR A.R. WILFLEY & SONS, INC.
Body
Economic Development staff will present a request for approval of business incentives to A.R. Wilfley & Sons, Inc. The company has manufactured centrifugal pumps in Denver for nearly 100 years and is considering a relocation to Commerce City.
Staff Responsible (Department Head): Michelle Claymore
Staff Member Presenting: Michelle Claymore and Michelle Hill
Financial Impact: $58,000
Funding Source: Incentives will be funded as rebates of sales and use tax (3.5%) from capital investment and business operations, and rebates of building permit and plan check fees collected in association with the capital investment project.
Staff Recommendation: Staff recommends approval of this incentives request.
Suggested Motion: I move approval of Resolution 2014-101 approving economic development incentive agreement between the City of Commerce City and A.R. Wilfley & Sons, Inc.