HomeMy WebLinkAboutResolution 27, 2020CITY OF WHEAT RIDGE, COLORADO RESOLUTION NO. 27
Series of 2020
TITLE: A RESOLUTION APPROVING AN ENHANCED SALES TAX IMPROVEMENT PROGRAM AGREEMENT WITH GRAMMY’S GOODIES IN THE AMOUNT NOT TO EXCEED $70,000 OR FOR
FIVE YEARS, WHICHEVER SHALL OCCUR FIRST
WHEREAS, Division 4, Section 22-73 of the Wheat Ridge Code of Laws establishes an Enhanced Sales Tax Incentive Program; and
WHEREAS, The purpose of the enhanced sales tax incentive program is to encourage the establishment and/or substantial expansion of retail sales tax generating
businesses within the city; and
WHEREAS, approval of this resolution will stimulate the economy of and within the City, thereby providing employment for residents of the city and others; and
WHEREAS, the improvements will allow further expansion of the goods available for purchase and consumption by residents of the city; and
WHEREAS, the completed improvements will further increase the sales taxes
collected by the City, which increased sales tax collections will enable the City to provide expanded and improved municipal services to and for the benefit of the residents of the City; and
WHEREAS, the agreement, attached as Exhibit 1 has been reviewed and
approved by all parties.
NOW, THEREFORE, BE IT RESOLVED by the Wheat Ridge City Council, that:
Section 1. Enhanced Sales Tax Incentive Program Agreement Approved
An Enhanced Sales Tax Incentive Program Agreement with Grammy’s Goodies is approved, rebating 50% (1.5 cents) of City incremental sales tax generated for a period
of five years or for a total not to exceed amount of $70,000.
Section 2. Effective Date. This Resolution shall be effective upon adoption.
DONE AND RESOLVED by the City Council this 11th day of May , 2020.
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Bud Starker, Mayor ATTEST:
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Steve Kirkpatrick, City Clerk