Monday, June 20, 2011

Potential Gas and Convenience Store that would be located in Turnberry Marketplace {Commerce City}

Kum and Go, L.C. d/b/a Kum and Go Foodstores, LLC has applied for incentives for a potential gas and convenience store that would be located in Turnberry Marketplace at 12241 E 104th Ave in Commerce City. In the event the company decides to proceed with development of this store, the estimated total capital investment will be $2,564,186 - nearly $1,500,000 for construction of the new facility and more than $1,000,000 for the store equipment.

The facility would be built to "Silver" LEED certification standards and the new store would create 13 full-time equivalent (FTE) jobs. Under the incentive program, the company is eligible for a 10% rebate of City sales and/or use taxes associated with these capital improvements, as well as a 50% rebate of City fees associated with these capital improvements. For utilizing "Green" building practices, the company is eligible for an additional 15% rebate of City sales and/or use taxes associated with these construction capital and improvements, as well as an additional 10% rebate of City fees associated with these construction capital improvements. In addition, the company is eligible for a tax rebate for creating new jobs.

Estimated expenditure is $44,051, based on the stated estimated investment of $2,564,186. Actual expenditure will be based on actual sales and/or use tax and fees and number of employees.

Incentive funding will be a rebate of actual sales and/or use tax and fees remitted and/or paid.

This incentive request is consistent with the Commerce City Incentive Program initially approved by City Council in 2010 and extended until September 1, 2011.

2 comments:

  1. as long as its not a pizza or liquor store

    ReplyDelete
  2. No, those are already covered in the Turnberry Market Place.

    ReplyDelete