HomeMy WebLinkAboutResolution 2013-0033CITY OF WHEAT RIDGE, COLORADO
RESOLUTION NO. 33
Series of 2013
TITLE: A RESOLUTION AUTHORIZING THE EXECUTION OF AN
AGREEMENT WITH A TASTE OF HOME COOKING, LLC AND
WINE NOT, LLC FOR PARTICIPATION IN THE ENHANCED
SALES TAX INCENTIVE PROGRAM REBATING 50% OF THE
ENHANCED SALES TAX FOR A PERIOD OF FIVE YEARS FOR
THE CONSTRUCTION OF A RESTAURANT AND WINE BAR AT
4101 AND 4111 KIPLING STREET IN AN AMOUNT NOT TO
EXCEED $73,694
WHEREAS , the City has adopted as a portion of the Wheat Ridge Code of Laws
("Code") Chapter 22 , Division 4 , "Enhanced Sales Ta x Incentive Program " (the
Program) to encourage, in part, continued development and expansion of opportunities
for employment in the private sector in the City ; and
WHEREAS , A Taste of Home Cooking , LLC and Wine Not, LLC (A Taste of
Home Cooking) has applied to participate in the Program and a public hearing was
posted and conducted ; and
WHEREAS, A Taste of Home Cooking is the owner and operator of a
development site that will serve residents of Wheat Ridge and surrounding
communities ;
WHEREAS , Owner plans to construct public improvements of approximately
$74 ,000 and a total project budget of approximately $600,000; and
WHEREAS , the project enhances services to the neighborhood and neighboring
communities and brings revenue to the City from surrounding communities-a true
definition of economic development; and
WHEREAS ; the project creates up to thirty restaurant and related jobs, and
WHEREAS ; the project spurs reinvestment through remodeling and new
construction of a blighted structure, thus enhancing and preserving its economic viability
in the City ; and
WHEREAS , cost-sharing at the rate prescribed herein will serve to aid the Owner
in that it will alleviate a portion of the public improvement costs associated with the
expansion.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat
Ridge, Colorado, as follows:
An Agreement to participate in the City of Wheat R idge Enhanced Sales Tax
Incentive Program with A Taste of Home Cooking , LLC and Wine Not, LLC is
hereby approved wherein an amount of 50 % of enhanced sales tax generated for
a period of five years , not-to-exceed $73 ,694 , will be rebated to A Taste of Home
Cooking , LLCIVVine Not, LLC .
Ilia, Mayor
ATTEST: