HomeMy WebLinkAbout1995-046-03/28/1995-BASIC INDUSTRIAL FIRMS ECONOMIC DEVELOPMENT FINANCIAL INCENTIVE POLICIES HYUNDAI ELECTRONICS INDUSTR RESOLUTION 95-46
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE MAYOR TO COMMUNICATE
WITH HYUNDAI ELECTRONICS INDUSTRIES REGARDING
THE CITY'S REVIEW OF ITS FINANCIAL INCENTIVE POLICIES
WHEREAS, the City of Fort Collins has an adopted economic development policy that
indicates that the retention of basic industrial firms is critical to the overall prosperity of the
community; and
WHEREAS, City Council has determined that economic development serves an important
public purpose by promoting primary and secondary jobs within the City, and generally enhancing
the local economy; and
WHEREAS, on August 16, 1994, City Council adopted Ordinance No. 123, 1994, which
amended Article VH of Chapter 5 of the Code of the City of Fort Collins so as to permit the rebate
of fees for qualifying basic industries in order to stimulate capital investment by the firms, and
encourage the creation of additional basic industrial jobs; and
WHEREAS, it is the policy of the Council of the City of Fort Collins to periodically review
and evaluate the City's financial and economic development policies in terms of their relevance to
current community values, and the location decisions of large manufacturing businesses; and
WHEREAS, on March 28, 1995, City Council adopted Resolution 95-45 directing City staff
to prepare certain information and analysis relating to the City's existing financial incentives for
large basic industrial employers in order to facilitate the review and possible revision of those
policies; and
WHEREAS, the City has been advised that Hyundai Electronics Industries may be interested
in expanding its facilities in Fort Collins, which facilities might significantly add to the economic
well being of the community; and
WHEREAS, the City believes that the jobs associated with the location of Hyundai
Electronics Industries might serve an important public benefit by retaining current jobs and creating
new jobs offering substantial wages and benefits; and
WHEREAS, City Council wishes to invite Hyundai Electronics Industries to consider our
community.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Mayor is hereby authorized to prepare a letter to send to Hyundai
Electronics Industries indicating the City's interest in discussing Hyundai's development of a major
manufacturing facility in Fort Collins. A copy of Resolution 95-45, as well as the City's currently
adopted policies concerning economic development and financial incentives shall be included.
Passed and adopted at an adjourned meeting of the Counc' f the City of Fo ollins held
this 28th day of March, A. D. 1995.
Mayor
ATTEST:\�
City Clerk