City and County of Denver - File #: 20-0887

• File #: 20-0887
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 8/24/2020
• In control: Business, Arts, Workforce, Climate & Aviation Services Committee
• On agenda: 9/14/2020
• Final action: 9/14/2020
• Title: A resolution approving a proposed Agreement between the City and County of Denver and DCG West 1, LLC establishing a revenue return agreement based on the future new sales tax revenue generated by the retail anchor of a new development in Montbello. Approves a contract with DCG West 1, LLC establishing a revenue return agreement through 9-01-35 based on the future new sales tax revenue generated by the retail anchor of a new development in Montbello, with the project receiving a return of 50% of the general fund portion of sales tax revenue up to a maximum contract total of $9,500,000 in Council District 11 (OEDEV-202055552). The last regularly scheduled Council meeting within the 30-day review period is on 10-5-20. The Committee approved filing this item at its meeting on 9-2-20.
• Indexes: John Mahoney

Date	Ver.	Action By	Action	Result
9/14/2020	1	Council President	signed
9/14/2020	1	City Council	adopted	Pass
9/2/2020	1	Business, Arts, Workforce, Climate & Aviation Services Committee

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 8-24-20

Requesting Agency:
Division:

Subject Matter Expert Name:

Name: Susan Liehe
Email: susan.liehe@denvergov.org

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 approving a proposed Agreement between the City and County of Denver and DCG West 1, LLC establishing a revenue return agreement based on the future new sales tax revenue generated by the retail anchor of a new development in Montbello.
Approves a contract with DCG West 1, LLC establishing a revenue return agreement through 9-01-35 based on the future new sales tax revenue generated by the retail anchor of a new development in Montbello, with the project receiving a return of 50% of the general fund portion of sales tax revenue up to a maximum contract total of $9,500,000 in Council District 11 (OEDEV-202055552). The last regularly scheduled Council meeting within the 30-day review period is on 10-5-20. The Committee approved filing this item at its meeting on 9-2-20.
body

Affected Council District(s) or citywide? Council District 11

Contract Control Number: OEDEV-202055552

Vendor/Contractor Name (including any "DBA"): DCG West 1, LLC

Type and Scope of services to be performed:
This proposed community-supported project provides new economic development opportunities for Denver residents. As a source of sales tax and property tax revenue as well as strong-wage jobs and a wide array of retail options including fresh food, the project overall will bring significant ...