Frisco moving ahead with economic incentives
Summit Daily News
After examining several incentive programs in March to boost the local economy, Frisco Town Council decided Tuesday to put two into action by passing both ordinances on the first reading.
The first establishes a temporary program – to run until Dec. 31 of this year – that reimburses commercial property or business owners with 50 percent of building permit fees for commercial projects. Eligible applicants include commercial property and business owners with a building permit to construct, add upon or improve a commercial space. The rebate would be dependent on the owner receiving a certificate of occupancy and being compliant with town codes. The ordinance also calls for an expedited review process for large commercial projects.
“Staff feels it is important to consider anything that would benefit (Frisco) businesses,” executive assistant Theresa Paul said to council Tuesday night.
Paul said because permit refunds are dependent on the size of the project, staff is unsure of the cost to the town.
The second ordinance is also a temporary program (also running until the end of this year), and would provide a 50 percent reimbursement – up to $5,000 – for signs, landscaping and facade improvements to local businesses. To qualify, properties must be zoned for commercial purposes and be visible from Main Street or Summit Boulevard right-of-ways. Eligible improvements include exterior painting or siding, lighting, trees, shrubs or public artwork.
The incentive has a program cap of $25,000. At Tuesday’s meeting, town manager Michael Penny said staff felt the limit was a good place to start, and would return to council for direction if there is “overwhelming demand.”
Community development director Jocelyn Mills said she has already received calls from interested business owners regarding the facade incentive.
To qualify for either incentive, applicants must be in good financial standing with the town.
Paul said both items were researched per council’s direction in March. She said staff hopes the incentives will give business owners and developers encouragement to start a project they might be waiting to start.
While both objectives passed on first reading, a lone objection was made by Councilmember Larry Sawyer, who did not approve the ordinance regarding facade improvements.
A second reading is set for council’s next meeting on May 24.
In March, council also directed staff to pursue a website development incentive for the Town of Frisco government site, which Paul said is already in the works thanks to staff at Colorado Mountain College. A page is being set up to educate business owners about incentive programs, application processes and applicable contact information. Paul said it should hopefully be finished by this summer.
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