HomeMy WebLinkAbout132 - 11/05/1996 - APPROVING AND AUTHORIZING A REBATE OF DEVELOPMENT FEES ASSOCIATED WITH CONSTRUCTION OF NEW HEWLETT-P ORDINANCE NO. 132, 1996
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING AND AUTHORIZING A REBATE OF DEVELOPMENT FEES
ASSOCIATED WITH THE CONSTRUCTION OF A NEW 180,000 SQUARE
FOOT OFFICE FACILITY FOR HEWLETT-PACKARD
WHEREAS, Hewlett-Packard, Inc. ("the Company") is planning to retain and consolidate
its administrative functions within the municipal boundaries of the City of Fort Collins; and
WHEREAS, the Company plans to construct a new 180,000 square foot office facility at the
northeast corner of Harmony Road and County Road 9; and
WHEREAS, the Council of the City of Fort Collins has determined that it is in the best
interests of the City that the Company expand its manufacturing facility and maximize its
administrative functions in the City; and
WHEREAS,the Council has further determined that, if the Company consolidates and retains
its administrative functions in the City, the City will realize approximately $281,300, initially, and
henceforth approximately $97,000 per year in sales, use and property tax revenue, of which nearly
all is new revenue; and
WHEREAS, retaining the Company's administrative facilities in the City will also benefit
the City by stabilizing the company's employment base and by providing the corresponding
stimulation of the City's economy; and
WHEREAS, Council previously adopted Resolution 94-126, amending the City's Economic
Development Policy which provides for a case-by-case consideration of financial incentives for base
industry; and
WHEREAS, pursuant to the provisions of Sections 5-326 of the Code, the City Manager is
recommending the rebate of certain impact fees to be paid by the Company in connection with its
own construction activities; and
WHEREAS, the Company intends to use the proceeds from the proposed rebate to enhance
the technology assets within the Poudre School District; and
WHEREAS, Council also adopted Ordinance No. 123, 1994, amending Article VII Chapter
5 of the Code of the City of Fort Collins (the "Code") so as to permit the consideration and rebate
of fees on a case-by-case basis for the purpose of economic development; and
WHEREAS, in consideration of the aforesaid benefits to the City which would result from
the consolidation of the Company's administrative facilities within the municipal boundaries of the
City, the Council has determined that the Company should receive a rebate of the following
development fees associated with the construction of their new building, pursuant to the
aforementioned program: Street Oversizing, Building Permit, Plan Review, and Stormwater fees;
and
WHEREAS,The Council has further determined that the funds of the City that shall be used
to rebate the development fees shall derive from the sales, use and property taxes paid by the
Company, and, that in no event shall the rebate exceed the development fees actually paid, nor shall
the rebate be made until such time that the City has received twice the estimated costs for
infrastructure maintenance ($40,000).
NOW,THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That Hewlett-Packard shall receive a rebate of development fees associated
with the construction of its office facility within the City of Fort Collins, which fees are estimated
to be in the following amounts:
FEE Estimated Amount
Street Oversizing $ 91,075
Building Permit $ 59,924
Plan Review $ 28,852
Stormwater $ 52,830
TOTAL $232,681
Section 2. That the rebate payment shall derive from sales, use and property tax
payments received from the Company following the construction, equipping and furnishing of the
new facility, and that such payment shall, in no event, exceed the amount of development fees
actually paid by the Company, nor be made prior to the City receiving in tax revenue twice the
estimated amount needed to maintain the public infrastructure in the vicinity of the site over a
twenty-year period.
Introduced, considered favorably on first reading, and ordered published this 15th day of
October, A.D. 1996, and to be presented for final passage on the 5th day bf November, A�: 1996.
Mayor
ATT T:
ity ler
Passed and adopted on final reading this 5th day of November, A.D'J996)
--Mayor
ATTEST:
City Clerk