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Home My WebLink About1996 Resolution No. 076• • • RESOLUTION NO. 11:i.. SERIES OF 1996 A RESOLUTION APPROVING THE ARAPAHOE COUNTY ENTERPRISE ZONE UPDATED DEVE i 1 P MENT PLAN . WHEREAS, the City of Englewood, Colorado wns included in the Arnpahoe County Enterpriae Zone with the City of Sheridan on November I, 1990 and with the City of Littleton on November 29, 1991 ; and WHEREAS, the City of Sheridan businesses have been utili7.ing Arapahoe County En!A!rprill<l Zone tax credits since November I, 1990, in accord with an =.a economic development plan; and WHEREAS, the Colorado State Legislature passed Senate Bill No. 193 in April, 1996 of Senaw Bill 193 , which requires that said area economic development plan be revised and updated; and WHEREAS, the Arapahoe County Updated Development Plan dalA!d AU(Ust 1996 has been prepared to accomplish the objective of ~nalA! Bill No . 193 ; NOW, THEREFoRE, BE IT RESOLVED BY THE CITY COtJNCIL OF THE CITY OF ENGLEWOOD, COLORADO , THAT: ~-The City Council of the City ofEJlflewood, Colorado having reviewo,! the Arapahoe County Updated Development Plan dated Auguat 1996, hereby approves said plan and encourages the Colorad,· Ec-,aomic °""elopment Commission to approve said plan for the purposes of continuing a~d <·.cpanding ..,e Enterprise Zone area comprising the cities of Englewood , Sneridan, and Littl eton . ADOPTED AKO APPi .OVE D this 16th day ofSep·,,mber, 1996. I , Loucrishia A. Ell is, City Clerk fo r the City of Englewood, Colo rado , hereby certify the •So•••,=•-,, ,,,.,,,,,,oo No!//. S.Oo ,, <~ Jlllj Loucrishia A. Elli s COUNCIL COMMUNICATION Date I Agenda Item I Subject Arapahoe County 11 a i Enterprise Zone Updated Sep tember 16, 1996 Deve looment Plan Initiated By Staff Source Arthur Scibelli , Business Community Office of Neighborhood and Bu si ness Coordinator Development COUNCIL COAL The reten tion of retail and industrial businesses within the City of Engl ewood is a Coun ci l goal. The Arapahoe Coun ty Enterprise Zone provides important State Income Ta x Credits to businesses , serving as a business ret ention and expansion tool. • RECOMMENDED ACTION • Staff seeks Council support for a resolution app rovi ng the Development Plan so as to continue the Enterprise Zone and expand the Enterpr;se Zone in Englewood to include Cinderella City and th e South Broadway Corridor. BACKGROUND , ANALYSIS, AND ALTERNATIVES IDENTIFIED An application for Enterpri se Zone stat us was submitted to the Departmen t of Local Affai rs by th e Englewood City Co unci l in A ugust, 1990 and subsequently approved effect ive November 1, 1990. In April , 1996 the legislat ure passed SB 96-193 requi ring cities to submit a Deve lopmen t Plan for the fo ll owing pu rposes: Define effe ct iven ess of Ent erpri se ZonP. to da te Provide an opportunity for Ente rp ri se Zo ne ex pan sio n req ues ts Es tabl is h goals fo r meas uring future effecti ve ness o f th ~ Zo ne A ll of these items are addressed in th e D ev~lopment Pl an that accompa nies th is Co un ci l Com mu~ica ti on . Th e Plan also includes data for the ci tie: of Littleton and Sher idan. Th e Ci ty Counds o f Sheri dan and Littl eton have approved th is Pla n via res oluti on. S ~ff reco mmends Council approva l of this Pla n so as to cont i nu e and ex pand the Enterp rise Zo nP in Engl ewood . Pnn1ea .Jn Rec;c 'ea ?'1.l)er . J'!; ,«- ONOEltELLACITY AND SOUTH BR'.>ADWAY ENTERPRISE EXPANSION REQUEST:~~. It is important to note that the Enterprise Zone Act of 1996 established two statutory distress factors for qualifying census tracts : ,. 2. Per capjta income. Areas where per capita income, as reported by the 1990 Census, is less than $11, 116. Unemployment. Areas where unemployment, as reported by the 1 990 Census, is greater than 7. 17°1o. Cinderella City Enterprise Zone Expansion Area: Cinderella City meets the per capi ta income criteria but not the uremployment criteria . Cinderella City is located in Census Tract 57 .00, which has a per capita income of $10,315. This is the second lowest income level of all Cens us Tracts in the zone. Even though Cinderella City only meets one or the two m~jor stalutorv distress criteria es tablished the State, the expansion may still be considered based on the following positive impacts that would be realized by Cinderella City inclusion: • The elimination of blighted conditions al the site; • It will enhance the identity and attractiveness of Englewood 's ce ntral commercial area; • • The redeveloped site will provide goods and services to the community; • It will set a high profile example of a successful rede ve lopment project i n the Enterprise Zone; • Provides a princip.,I !ink in metropolitan Denver's transit system ' • In creases city sales tax revenues ; • Provide flexible-schedule jobs, enhan ,:i ng the variety of employment opportunities; and • Synergistically enhance the downtown and reta i l bu<iness area south of Hampden Avenue (opposite Cinderella City). In addition, Enterprise Zone benefits at Cinderella City will fost er a positive environm, nt to enable new businesses 10 become established . Availability of business financ ,ng, esse,,!i~I to economic rejuvenat ion, is enhan ced through loan programs that cffer priori!\• status to Ent er pri se Zone bus i nesses . Enterprise Zone benefits supporting busines sPs in th is redevelopment area include the : • Investment tax credit; • New business facility tax credit; • Health insurance ta x credit ' • Ta x c redit for contributions to child care ' • Education and training tax credit' and • Smal l Bu siness Adm inistration 504 and 7a loan programs. (Pl ease see Pages J i -42 of the Redevelopment Plan fo r a more detail ed description including ,naps and photos.) • • LOSS OF MALL BUSINESS HAS NEGATIVELY IMPACTED SURROUNDING BUSINESSES (Vacant Restaurant Near lht Mall's M.IJn Entranc e) • • The Census Tracts within the South Broadway Commercial Corridor de, not fit precisely within the distress criteria established by the State (unemployment and per capita income). There are a number of overlapping Census Tracts along the corridor. Some of these Census Tracts meet the per capita income criteria (less than S 11, 116) and some meet the unemployment criteria (greater than 7.17%). Some of the Census Tracts meet both the unemployment i!!Q per capita income distress criteria. (See pages 37-42 of the Redevelopment Plan for a more detailed explanation , inclooing maps and photos). H <''Vt er, the State may still give serious considNation to this expansion request based on the varied benefits which would accrue to the South Broadway corridor, if included. They are as ,allows: • Assistance to small businesses which typically experience slim opera r'ng margins; • Revitalization for a variety of retail and service-oriented uses, the mix of which will be determined by the needs of the !ocal market; • The revitalization of blighted properties; • Services and small office uses, providing jobs for a variety of skilled and unskilled employees; • Retail businesses, providing full-time, part-time, and flexible job op~vrtunities to certain demographic sectors that populate the area, such as households with children or older family members; • Increased sales ta x revenues to support local economic deve:oµment efforts; and • Increased sales tax revenu es to support genera l municipal services. Fl"IANCIAL IMPACT The Office of Neighborhood and Business Deve lopment provides staff support in the adm inistration of the Enterprise Zone. As a result , Englewood businesses receive State Income Tax Credits. LIST OF ATTACHMENTS Proposed Resolution Arapahoe County Updated D evelopmrnt Pl an, Augu st 1996 h \CfOUp.bl,.t~\cnaonc en d comm .:.z upd:itcd pl:in doc Current YHr Population □ Oto 731 □ 731 to 882 ~ 882 to 1,242 flil 1,2,.2 to 1,588 • I...._ - I ,11 IBOWM SOUTII BROADWIIY EXPANSICi. ;i.REA CENSUS BLOCK GROUPS 1 Q9() CIIOSUS Bouldaries YEUOW • Blocl. "'°"r" "'"4lng 011 .... F-. GREEN ■ llkx:k Gt-oup1 Not MMliflQ Di .. HI Crilaria 0 SOUTH lfflOAOWAY EXPMS!QN AREA • THE VARtETY OF BUILDINGS AND USES DETRACT FROM A DESIRABLE COMMERCIAL IMAGE • MANY PROPERTIES NEEDING RENOVATION ANO.OR REDEVELO PMENT STAND EMPTY • ~~--r------lOU~----JH~•B_ANW ____ v_u_e_,_,_w_,_Aftf! _____ ~ ~ r, • ARCHITECTURAL IICONGRUITY IS TYPICAL IN THE SOUTH BROADWAY CORRIDOR INCOMPATI8LE USES CONTRIBUTE TO A LACK OF COHESIVE IMAGE •