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RESOLUTION APPROVING ECONOMIC DEVELOPMENT INCENTIVES FOR GABE'S BURRITO GRILL & FRESH BLENDERS, LLC D/B/A G’s TACOS AND THOMPSON THRIFT DEVELOPMENT, INC. FOR THE ESTABLISHMENT AND OPERATION OF A FULL-SERVICE RESTAURANT IN THE CITY OF COMMERCE CITY
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Economic Development staff is requesting business incentives for a proposed new full-service restaurant.
Staff Responsible (Department Head): Michelle Claymore
Staff Member Presenting: Michelle Claymore
Financial Impact: No financial impact at this time. A payment of $195,000 to be disbursed to developer for construction of the restaurant, including the design, construction, and installation of equipment for a restaurant-grade kitchen. The restaurant business will receive an incenitve to cover triple-net expenses for a period of five (5) years.
Funding Source: $195,000 from the General Fund. Triple-net incentive will be funded from the General Fund and/or as a rebate of certain fees and/or sales and use tax remitted to the city in conjunction with this project and the on-going operations of the restaurant business.
Staff Recommendation: Staff recommends approval of the proposed incentives for a full service restaurant.
Suggested Motion: I move approval of Resolution 2018-106, providing Economic Development incentives for Gabe's Burrito Grill & Fresh Blenders, LLC d/b/a G's Tacos and Thompson Thrift Development, Inc