BRIGHTON — The city of Brighton agreed to extend economic incentives for Transwest through 2014. The amendment ,which extends anew completion date for the project as well as the time frame to earn economic incentives, was unanimously approved by council during its Oct. 2 council meeting.
The completion date for the incentive agreement, which was originally passed by council last June, was set to expire this month. Economic Development Director Robert Smith said Transwest is a huge project and between details and little delays, the time frame for the agreement needed to be extended. He said the amendment simply resets the six year time frame when Transwest can receive the incentives.
“The idea here is that within that six years, Transwest can perform to the best of their abilities and when they perform to their best ability, they receive a 50 percent rebate on their tax bill,” he said.
Smith said the incentives are performance based and that if the project does not perform, the city does not provide those incentives, although he fully expects it will perform.
“This was a good project a year ago, this will be a good project a year from now, this will be a good project six years from now, this will be a good project 40 years from now, this is a significant project in our community,” he said.
According to Smith, there is nearly $28 million invested in the project and anticipates $3 million in taxable sales going to the city. He also believes there will be an indirect economic impact of $8 million from their business from those who shop in Brighton, eat at the restaurants and stay in the Hotels.
Transwest will be relocating 247 Adams County jobs to Brighton and the company plans to hire an additional 50 jobs over three years.
In other business:
— Council voted unanimously to allow Parks and Recreation Director Gary Wardle to submit a $2,000 grant to the Colorado State Historical Fund to restore the interior of the Bromley-Hishinuma Farm.
— Two community development block grants were unanimously allocated for the 2014-15 grant year. Council allocated $114,00 for the upgrading of sidewalks to meet standards set by the Americans with Disabilities Act and $36,000 to the Brighton Housing Authority.
— Council recognized the Brighton Police Department for receiving accreditation through the Colorado Association of Chiefs of Police and acknowledged Main Street Creatives with the Governors Award for Best Creative Industries.
— Council went into closed session for legal advice on the South Main Street Mobile Home Park and Denver International Airport.