HomeMy WebLinkAboutResolution 15, 2021CITY OF WHEAT RIDGE RESOLUTION NO. 15 Series of 2021
TITLE: A RESOLUTION APPROVING A FIRST AMENDMENT TO AN ENHANCED SALES TAX INCENTIVE PROGRAM AGREEMENT WITH GRAMMY’S GOODIES EXTENDING THE COMMENCEMENT DATE FROM NOVEMBER 1, 2020 TO
NOVEMBER 1, 2021 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, City Council adopted Resolution 27-2020 approving an Enhanced
Sales Tax Incentive agreement with Grammy’s Goodies on May 11, 2020; and
WHEREAS, improvements to Grammy’s Goodies will allow further expansion of the goods available for purchase and consumption by residents of the city; and
WHEREAS, due to the impacts of the COVID-19 pandemic, causing delays in production and arrival of equipment to further the development the project was delayed approximately one-year; and WHEREAS, approval of an amendment extending certain dates in the agreement
will provide public or public-related improvements at no cost, or at deferred cost, to the city and its taxpayers and residents; and WHEREAS, the requested Amendment will stimulate jobs and growth during and after the improvements and will lead to future sales and use tax revenue and
continuation of permanent good paying jobs; and WHEREAS, approval of the proposed Amendment continues the support of a Wheat Ridge based small business; and is in conformance with the City’s Comprehensive Plan; and
WHEREAS, City Council has conducted a proper public hearing on the proposed amendment, meeting all public notice requirements as required by Section 26-109 and 26-407 of the Code of Laws.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat Ridge, Colorado:
Section 1. First Amendment to ESTIP agreement approved
The first amendment to Enhanced Sales Tax Improvement Program Agreement with
Grammy’s Goodies is hereby approved in the form attached as EXHIBIT 1, and the Mayor and City clerk are hereby authorized and directed to execute the same.
Section 2. Effective Date
This Resolution shall be effective upon adoption.
DONE AND RESOLVED this 12th day of April 2021.
______________________
Bud Starker, Mayor
ATTEST:
_________________________
Steve Kirkpatrick, City Clerk
EXHIBIT 1 FIRST AMENDMENT TO ENHANCED SALES TAX INCENTIVE PROGRAM
THIS FIRST AMENDMENT TO AN ENHANCED SALES TAX INCENTIVE PROGRAM (this "First Amendment") is made effective as of April 12, 2021, by and between the CITY OF WHEAT RIDGE (“City”), and GRAMMY’S GOODIES (“Grammy’s”).
RECITALS A. The City and Grammy’s entered into that certain Enhanced Sales Tax Incentive Program Agreement with an Effective Date of May 11, 2020 (the "Original Agreement"), wherein, subject to the terms thereof, both parties agreed to consent to all items pertained in the Original
Agreement.
B. Grammy’s Goodies desire to amend Sections 2 and 14 of the Original Agreement from November 1, 2020 to November 1, 2021, as more fully set forth below. C. The City Council has approved this amendment by Resolution No. 15, Series 2021,
effective April 12, 2021. D. Sections 2 and 14 of the Original Agreement, as amended by this First Amendment, are replaced in their entirety to read as follows 2. Term. The term of this Agreement shall commence on the first day of the calendar month following the month in which the Owner receives their Certificate of Occupancy on the Property or November 1, 2021 whichever shall occur first (the “Commencement Date”) and shall terminate in five (5) years, unless otherwise provided in this Agreement (the “Term”). The Term
of this Agreement shall automatically renew for each additional one year period to the extent
required by Section 4(d) hereof.
14. Effective Date. This Agreement shall be effective and binding upon the Parties upon the date first set forth above. Notwithstanding any provision of this Agreement which may be interpreted to the contrary, in the event that Owner does not acquire title to the Property and
construct and make improvements to the Property on or before November 1, 2021, then upon
notice by the Owner to the City, this Agreement shall terminate and both Parties shall be relieved of all liability hereunder.
IN WITNESS WHEREOF, Owner and City have each caused this First Amendment to be executed by the authorized Parties.
CITY OF WHEAT RIDGE
By: ________________________ Name: Bud Starker Title: Mayor
ATTEST:
_______________________ Name: Steve Kirkpatrick
Title: City Clerk
State of Colorado )
) ss.
County of Jefferson )
The foregoing Agreement was acknowledged before me this ____ day of ____________, 20___, by Bud Starker as Mayor and Steve Kirkpatrick as City Clerk, respectively, of the City of Wheat
Ridge, Colorado.
14 April 21