SUBJECT:
Title
A Resolution Of The Town Of Erie Urban Renewal Authority Approving The Terms Of A Reimbursement Agreement Between The Town Of Erie Urban Renewal Authority (“TOEURA”) And 615 Briggs LLC (“Developer”)
Body
DEPARTMENT: Economic Development
PRESENTER: Ben Pratt/Economic Development Manager
Tim Morzel/Vice President of Economic & Planning Systems
TIME ESTIMATE: 15 minutes for both Agenda Item 19-086 and 19-087
FISCAL INFORMATION: NA
Cost as Recommended:
Balance Available:
Budget Line Item Number:
New Appropriation Required:
STAFF RECOMMENDATION:
Recommendation
Approve the resolution
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
615 Briggs, LLC has acquired property at 615 Briggs Street. 615 Briggs, LLC intends to redevelop the property into an approximately 8,110 square foot mixed use commercial building and intends to rent the space to retail, office, and restaurants users. The Town approved a Historic Old Town Renewal Plan on November 12, 2013. The property is located within the Urban Renewal Plan boundaries and the TIF district. Per Title 31, Article 25, Part I, C.R.S, and the Urban Renewal Plan, the Town of Erie Urban Renewal Authority is authorized to enter into a reimbursement agreement with 615 Briggs, LLC.
ATTACHMENTS:
Resolution
Presentation
Request for Tax Increment Presentation