Located on the north side of 120th Ave. and Claude Court is the Northglenn Pavilion Shopping Center. Anchored by TCF Bank, recent businesses now open in the center include: Jiffy Lube, Saxbys Coffee, and Shape Xpress. Coming soon will be Northglenn Wine and Spirits, a 5,000 square foot liquor store. There are still 4,000 square feet of retail space available for leasing. The Northglenn Mayor, City Council members, the City Manager and City staff, welcome businesses to the Northglenn Pavilion.
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| business incentives |
Contact information:
Kristin Sullivan, Economic Development Coordinator
303-450-8743
ksullivan@northglenn.org
The City of Northglenn has several incentive programs that are designed to attract new businesses to the city as well as assist existing businesses expand or renovate their current facilities. Following is a summary of available incentives:
Business Incentive Zone (BIZ)
The City of Northglenn’s Business Incentive Zone, “BIZ”, is an incentive program designed to attract new businesses and assist existing businesses to expand or renovate within the City of Northglenn.
The Business Incentive Zone, which has city-wide application, allows for the abatement of use tax on machinery, furniture and fixtures associated with the initial development or redevelopment “project”, use tax on building materials, building permit fees, zoning fees and plan check fees. The amount of the abatement is based on the amount of additional sales tax, use tax, property tax, and/or accommodation tax revenue the city anticipates receiving from the new or expanded business during its first year of operation.
Enhanced Sales Tax Incentive Program (ESTIP)
The City of Northglenn’s Enhanced Sales Tax Incentive Program, “ESTIP”, was created to encourage the establishment or expansion of retail sales tax generating businesses within the City of Northglenn.
The ESTIP, which has city-wide application, is a contractual arrangement subject to approval of the Northglenn City Council. A business may apply for inclusion within the program provided that the new or expanded business is anticipated to generate increased or enhanced sales tax revenue.
ESTIP participants are entitled to share in enhanced sales tax revenue derived from the applicant’s property or business in an amount not to exceed 50 percent of the enhanced sales tax revenue for a specified period of time. The participant must use said amounts only for public or public-related improvements installed or constructed by the participant.
Northglenn Urban Renewal Authority (NURA)
Redevelopment projects in which NURA is involved are financed through a combination of public and private investments. A unique mechanism called tax increment financing (TIF) enables NURA to use increased property and/or sales tax revenues generated from new developments within the NURA-designated areas to help finance redevelopment projects and related public improvements.
The original NURA designated area was the Northglenn Marketplace and the three blocks surrounding it. In January 2004, the Northglenn City Council added three other areas to the NURA boundaries. These areas are the Garland Shopping Center; the Malley Heights/Palmer Plaza Area; and the predominately commercial area generally located south of 120th Avenue between Washington Street and Interstate 25.
Enterprise Zone
Colorado's Urban and Rural Enterprise Zone Act of 1986 established a program to encourage new capital investment and job growth in economically distressed areas of the state. Companies located in an Enterprise Zone area are eligible for various state income tax credits and possibly other local incentives.
The four-block area in and around the Northglenn Marketplace in the City of Northglenn is included within the Adams County Enterprise Zone.
Major Redevelopment Projects
For major redevelopment projects, a development agreement would be negotiated between the developer and the City/NURA and may include all or some of the above incentives, along with others such as waiving of water and sewer connection fees and other site-specific items. |
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