HomeMy WebLinkAbout08/15/2012 - Forney Assistance Package - Economic Advisory Commission
Economic Advisory Commission
300 LaPorte Avenue
PO Box 580
Fort Collins, CO 80522
970.221.6324
970.224.6107 - fax
fcgov.com
MEMORANDUM
DATE: August 15, 2012
TO: Mayor and Councilmembers
FROM: Economic Advisory Commission
THROUGH: Josh Birks, Economic Health Director
Darin Atteberry, City Manager
RE: Forney Assistance Package Recommendation
In August, SeonAh Kendall, Economic Health Analyst, provided information to the EAC
regarding the Forney Industries Assistance Package. Details covered included Forney History in
our community, employees, costs association with annexation, and results of the annexation.
The package would include a sales tax rebate of 15K annually for three years, a personal
property tax rebate of 399.00 annually for 10 years, and a real property tax rebate of 2,672
annually for 10 years. The rebates would be intended to offset the costs of annexing into the
City and direct revenues for the city would be approximately 300K in the next 10 years.
After thorough consideration and discussion, the EAC developed the following recommendation
to the Fort Collins City Council.
Christophe Febvre moved and Stu MacMillan seconded:
The Economic Advisory Commission (EAC) supports the Forney Industries Package as written
and recommends Council approve it on first reading.
Motion passed 7 – 1 (nay Sam Solt)