Laserfiche WebLink
SUBJECT: RESOLUTION NO. 34, SERIES 2015 <br />DATE: JUNE 2, 2015 <br />PAGE 3 OF 3 <br />complete the first phase of improvements by June 30, 2016, or does not remain in <br />business there for five years. <br />FISCAL IMPACT: <br />The total fiscal impact would be a total of 50% of the City's permit fees, and 50% <br />building use taxes paid (excluding the 0.375 % open space tax, 0.125% Historic <br />Preservation tax, water and sewer tap fees, and impact fees) based on the costs <br />associated with the relocation project. Staff estimates the value of the assistance over <br />the term of the agreement to likely be $130,900, but could be up to $142,900 if rebates <br />to the Company for Consumer Use Tax /Sales Tax reach the $130,000 cap; this rebated <br />amount would be entirely offset by the projected $305,000 in additional revenue from <br />building permit fees, building use taxes and consumer use /sales taxes attributable to <br />the project over three years of operations. <br />RECOMMENDATION: <br />Staff recommends City Council approve the attached Resolution approving a Business <br />Assistance Agreement with Hope Foods, LLC. <br />ATTACHMENTS: <br />1. Resolution No. 34, Series 2015 <br />2. Business Assistance Agreement <br />3. Staff Presentation <br />CITY COUNCIL COMMUNICATION <br />35 <br />