Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)
Date Submitted: 06-20-17
Requesting Agency: Office of Economic Development
Division:
Subject Matter Expert Name:
Email Address:
Phone Number:
Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).
Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
A resolution authorizing submittal of an application for a special-purpose subzone of Foreign-Trade Zone No. 123 for use by Ackerman North America LLC/dba Amann USA and related entities.
Authorizes the City to submit an application for use by Ackerman North America LLC, doing business as Amann USA, located at 452 Burbank Street in Broomfield, CO to establish a special-purpose subzone of Foreign Trade Zone #123 for the production of high-quality sewing and embroidery threads, as authorized by the U.S. Foreign Trade Zones Board for use by companies located within 60 miles of Denver International Airport. The Committee approved filing this resolution by consent on 7-19-17.
body
Affected Council District(s) or citywide? N/A
Executive Summary with Rationale and Impact:
A Foreign Trade Zone (FTZ) is a site within the U.S. that is considered by federal government to be outside Customs territory. It is a designated location where companies can use special procedures that help encourage U.S. activity and value added--in competition with foreign alternatives--by allowing delayed or reduced duty payments on foreign merchandise, as well as other savings.
When a business operates under FTZ procedures, it is treated, with regard to customs duties...
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