HomeMy WebLinkAbout2013 Resolution No. 043•
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RESOLlJllON NO . ..!&._
SERIES OF 2013
A RESOLUTION SUPPORTING CRAIG HOSPITAL'S APPLICATION TO BE
IJt:SIUNATED A QUALIFIED CONTRIBUTION PROJEC.'T TiffiOUGH THE ARAPAHOE
COUNTY ENTERPRISE ZONE .
WHEREAS , such a designation requires support by the local govemint body prior to
cunsi<lcnu lu11 by the Stale's Economic Development Commission; and
WHEREAS , in 2001 the Arapahoe County En,erprise Zone was expanded to include
F.nglcwood's medical campus, comprising bo1b Craig Hospital and Swedish Medical Cmtcr as a
for-profil enlcrprise ; and
WHEREAS, as a non-profi1 enterprise , Cruig Hospi1al docs nu1 hllvc tax ublig111ions wilh ilie
S1a1e of Colorado ; and
WHERF.AS , Craig can •pply In hecome • qu•lified con1rihution project , enlitling donors 10 it s
current expruision project to receive State of Color:ido iax credit,; and
WHEREAS , the process requires the approval of the Slate's Economic Development
Commission with Craig submitting an appl ication to the Economic Development Commission tor
tPnsidcration and appro\'al;
:SOW, THEREFORE, DE TT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, THAT :
~-The City Counci l oi the City of Englewood supports the Craig Hospital application
to the State Economic Development Cnmmic;i;ion tn he dcsigni\ted a.~ a qualified ~ontribution
project through the Arapahoe County Enierprise Zone.
ADOPTED AND APPROVED this 3rd day of lune, 2013.
I, Loucrishia A. Ellis , City Clerk for t?3~ty of Englewood, Colorado , hereby certify the
.-o~;,,_,,,,,r ..... , .. No. S••~~t/6!::.
ucrishia A Ellis, City Clerk
COUNCIL COMM! l~!tCATIC"'I
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DATE: AGENDA ITEM: SUBJECT:
)u11e 3, 2013 Resolution Supporting Craig Hospital's
Y c I a~;,lic;,Uon to be r' •signated a qualified
contributi'>n P-'>i •-' through the
Arapaho•• C~anty Enterprise Zone
INITIATID BY: STAFF SOURCE:
City Manager's Office Darren Hollingsworth, Econcm,c Developme~t
Manager
COUNCIL GOAL AND PREVIOUS COUNCIL A1..1ION:
At the May &, 2013 study session stafi introduced Lrarg Hospital 's interest in becoming a qualified
contnbution project throuKh the Arapahoe County Enterprise Zone.
RECOMMENDED ACTION:
Staff recommends that Council adopt the attached Resolution supporting Craig Hospita!'s applicaticn to
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the State of Colorado's Cconomic Developme,it Commission requesting qualified contribution status
through the Arapahoe County Enterprise Zone . If approved, this would provide valuable State of Colorad o
tax credits to donors supporting Craig Hospital 's capital campaign.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED:
To <11ririnrt its signifirant capital campaign, Craig Hospital has expressed a., interest in becoming a qualified
contribution project through the Arapahoe County Entcrp, ise Zone. Th is requires support by the local
governing body prio r to consideration by the State's Econom ic Developme111 Curn1nissio11 .
Craig Hospital is undereoing a $90 million expansion . This inv olvPs a signifi r ant fundraising campaign and
hospital administra1ion belie,-es that the tax credits offerc j th,ough the En terpris e Zone woulci be ben eficial
In attracting don a tions to support the e•pansion
In 2001 , lhe Arapahoe County l:nterprise Zor.e was expanded to include Englewood's medical camprr•
comprisir.g both Craig Hospital and Swedish Medical Center. As a for-profit enterprise, Sw edish Mcdi_al
Center ta<es advantage of the State of Colorado tax c.redits offered for their capital lnvestmenti within the
community. As a non-pro fi t enterprise. Craig does not have tax obligations with the State of Colorado;
therefore, the tax credits for investments are irrelevant. Craig can, however, apply to become a qualified
contribution pro ject, e1111tling donors to Stale of Colorado tax ere· s. l11is process requires the approval of
the Slate 's Economic lJf,•elopment Commission (EDC), which im v,ves Craig Hospital submitting an
application to the EDC for consideration and approval. The ne,t EDC meeting is July 25, 2013 and Craig's
application must be submilted to the EDC by lune 21, 2013. Prior to the submittal of Craig 's application to
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the EDC, Englewoou City Council is being presented with th is Resolution au th orizing staff ,o proceed with
this submittal.
FINANCIAL IMPACT:
~nglew,,,r,r.1 currently administ ers the Arapahne r.nunty FntP.rrn<P. 7n,,e for the cit ies of Sherldar., Littleton
and Engl~wuod. Contribullon pro1ec1s require little processlnc and reporting rm an annual hasis . Subject
lo Jnnual :.pprnprblions , Englewood r(..'C~ives an ad111i11islralive grant 10 olisel these staff cxp~nses. No
direct outlays o( runds me involved in this pro jec t. St.,ff time is minim 1il.
LIST Of ATTACHMENTS :
Kesu hn ao n
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