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Home My WebLink About2003 Ordinance No. 037• • • ORDINANCE :--10 . _5 '7 SERIES OF 2003 -- BY AUTHORJTY COUNC IL BILL NO . 30 INTRODUCED BY COUNC IL MEMBER GRAZULIS AN ORDINANCE APPROV ING THE INCENTIVE PA CKAGE WITH GART SPORTS TO EXPAND TMEIR OFFICES . WHEREAS. 1he Ci1y and Gart Sports are pleased 10 be working 1oge1he r 10 upgrade the Gart corpora1e campus in Englewood; and WHEREAS, 1he Ci1y be lieves an incen1i ve package will encourage 1he expansio n of Gart Sports in a creative manner; and WHEREAS. 1he City and Gart Sports will work logether 1oward creation of a Special Improvement Di strict and Tran spo rtation Improvement Fund s for public rtreetscape . pedestria n, signage, and landscaping improvements on publk streets to enhance the entrance to Gan Sports facilities ; and WHEREAS , the City will assist Gart Sports in negotiating the acquisition of parc~ls adja cem to the new ·facility and COOT right-of-wa y to the north of the new facility . NOW , THEREFORE , BE IT ORDAINED BY THE CITY COUNC IL OF THE CITY OF ENGLEWOOD. COLORADO, AS FOLLOWS : Section I. The City Cou ncil of the City of Englewood , Colorado , hereby approves the annual incentive rebate to Gari Sports equa l to 100% of taxe s le vied by the City upon taxable personal property located at I 090 W. Hampden Ave .. Englewood, Co lorado, and use d i,. connection with th e opera tion of th e new fac ility for five years, subject to annual app ropriation by ,he City if funds are availab le. Section 2. The City Council of the City of Englewood , Colorado, hereby approve s the reba te of l 00% of actual use tax on equipment purcha se d fo r the new facility in year one. and 50% of actual use tax paid on equipment purchase d in yea rs t\VO through five. subject to annua l , ppropriation by the City if funds are available . Section 3. The Ci ty Council of1he City of Englewood, Co lora do, hereby approves a rebate of IOO ¾ of actua l use ta.,es paid by Gart Sp orts at 1he new facii ity at 1090 W. Har.-,pden Ave . for bui lding materia ls in year one. and 50 % of actual use tax paid on building materials in years two through 5, subject to annu al appropriation by thl! City if funds ::i;c ;iva1 l.>!ile . Secti on 4. The Ciry Cou ncil of the City of Englewood. c ... '.Jra,1o, agiccs to coordinate with Gart Spo ns to create a Spec ial Impro ve ment Distri ct for public strcetscape , pedestrian. sig n:.i ge and landscaping improvements on public sireet s 10 enhance th e entrance to Gan Sports facil ities. Co nceptual design costs (not construction documents) fo r these public improveme nts will be provided up to a ma.,imum ofS20,000 . In addition . up to SI0,000 from the City 's Comme rcia l Catal yst Program will be directed toward land scaping , sign age and facade conc eptual design 10 b iv costs improvements 10 the new Gan Sports facility located at !090 W. Hampden Avenue , subject 10 annual appropriation by the City if funds are available . Section 5. The City Council of the City of Englewood , Colora,Jo , hereby approves the City 's appli cation for federul TEA-21 Transportation Improvement Program funding in the year 2004 10 provide for a pede strian bridge connecting the corporate campus of Gans Sports to the Englewood Tran si t Station, subject 10 an appropriation by the City iffunds are available . Section 6. The City Council of the City of Englewood, Colorado , agrees 10 assist in negotiations for Gart Sports acquisition of Parcel 5 adjacent to the new Gart Sports facility and the outlying parcel ofCDOT right-of-way 10 the north of the new facility at 1090 W. Hampden Avenue. Introduced , read in full , and passed on first reading on the 5th day of May, 2003. Publi shed as a Bill for an Ordinar,ce on the 9th day of May , 2003 . Read by title and pas•,ed on final rea ding on the 19~ day of May , 2003 . Published by title o; Ordinance No. 4, Serie s of 2003, on the 23"' day of May, 2003 . I, Loucrishia A. Elli s, City Clerk for the City of Englewood , C the above and foregoin~~ true copy of the Ordinance pass title as Ordinance No. 2.L, Series of 2003. • • • • COUNCIL CQMMUNICAJfQN DATE : May 5, 2003 I AGENDA ITEM I SUBJECT: I t a ii Gart Sports Incentive Agreement INITIATED BY I STAFF SOURCE: Commlinity Development Department Lau ri Dannemiller, Senior Manager CQUNCfL GOAL AND PREVfOUS CQUNCfL ACTfQN; • Council es1abli shed goals for enha ncing th e business and economic climale within Englewood RECOMMENDED ACTfQN· Staff recommends that Counol adopt the Ordinance au thorizing incentives 10 Gari Sports, for the expansion of thei r corpora le headquarters to 1090 W . Hampden Avenue. BACJ(GRQUNp. ANALVSfS AND ALTERNATIVES fRENTIF(EQ; In May of 2001, the City entered Into an agreement with Gart Sports to provide incentives in return for the location of their corpora te headquarters in Englewood . In April of 20~3, Gari Sports completed the acquisillon of Th e Sports Authority, and has become the largest sporting goods retailer In the nation. As a result of this acqu isi ti on, Gart Sports is bringing approxi mately 350 new full-time jobs to Colorado, and needs to expand lo accommodate these jobs. Their current facility will not fully accommodate thi s expansion. The following incentive package is proposed by the City to retain this major emp loyer within Englewood: □ A reba te of 100% of Englewood personal property taxes paid to the City over the not five ye ars. □ A 100% rebate of use taxes on bu ilding materi als in Year 1 an d a 50% reba te of use taxes on building materia ls in Years 2-5. □ A 100% rebate of use taxes on eq uipment purchased fo r the new facility in Year 1 and a 50% rebate of use taxes on bu ilding mateiials in Years 2-5. □ Agreement to negotiate formation of a Special Improve ment District Up to implement pedes- trian , land scaping, signage and public streetscape improvements on lhe en trance to th e new facilities . Up to $20,000 toward s lhe cosl of concep tual design cosi s paid for these im- provements in the event of the SID forma ti on . Up to $10,000 tow~rds the improvement of their new facility fac;ade from the Ci ty's Commercial Catalyst program. □ The City agrees to ,1pply fo r federal Tran sportalion Improvement Program funding to sup..,ort a pedes trian bridge connecting th e so utheastern sec ti on of the H ampden/Santa Fe intersec- tion to the Englewood Transit Station □ Assist Gart's in negotiating th e acquisition of a parcel adjacent to th e 1090 W . Hampden fa. cility through discussion with properly owners, the COOT and Alchison Topeka and Santa Fe Railroad . FINANCIAL IMPACT; Currently, th e City realizes 110 revenue from th e I 090 W . Hampden property, and will not garner any revenue unlil 2009/20 10 (due to 1he U rban Renewal Authorily Ois lrict st alus} unless anoth er tenant is secu red by the property owner. Assuming this ordinance is accepted and expansion occurs, th e City will realize the following revenues from th e si te: Year 1 S 13 ,779 LJ..4Q.QQQ S I S3,779 Direct Benefit (Bld g and Permit Fees less EURA lax rebate) Indirec t Benefits Total • • • Y•ar 2-S S 168,444 Direct Benefit (Perm it Fee s, Use Taxes less EURA rebate) Ll&OOl! Indirec t Benefi ts (S 140,000 x 4yrs ) S 72 8,444 (Average S 18 2,111 per year) Year6 $ 140,000 Ind irect Benefi 1s Year 7-15 $ 128 ,795 Direct Ben efits (Real and Perso nal Property Taxes) 1.1.UD.QQQ Indirec t Benefit s $1 ,24 8,795 Tola/ Total $ 311,018 Total Direct Benefit Years 1-15 $1,960,000 Total Indirect Benefits Years 1-15 In conclusion , lh e redevelopment of this site is an important component to expanding the success begun at CityCenter Engl ewood. This Incentive package will allow for a national retai ler to remain in Englewood, and at the same time, see a vaca nt property redeveloped Into an appropriate, be neficia l use. usr PE ATTACHMENTS· Map Proposed Bill for an Ordinance I I I ·f ZONI NQ (JI() N 1N. $£>'61fC,'r) _,_l,,-01< >1S8 --I P4 z25" I I I I I I I I I -J LS BU ILDIN G 11 STOA ( CON CA[ ff L/090 w. %95§ I ,a,-NIAIPOEN Ave.I ttJl,018., 5IJ • (~AlfA,£ ,t ~ N((),,_,. W./1) 1 8lD&.) E/116££/vOOO EXCJIANt; NEW l:l'ERNAY ' 8: £, UC 8()()K 19 WVeST/IIENT c~ 06, Pl/GE S00 'PR/1/Y E, LTO . PIIR C£L LOT I 307,454 SQ F. 7.058 17 AC . '