To: Board of County Commissioners
Through: Michelle Halstead, Director, Commissioners’ Office
Prepared By:
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Christine Shapard VP Economic Development, Denver South
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presenter
Presenter: Christine Shapard, VP Economic Development, Denver South
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Subject:
title
3:30 PM *Charter Communications Inc. Rebate Extension (Project Colony)
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Purpose and Request:
recommended action
The purpose of this request is to support efforts to attract high quality, highly visible companies to Arapahoe County and the region. The Board of County Commissioners is requested to extend the current business personal property tax rebate agreement with Charter Communications (Charter) as it pertains to Project Colony for another five years at 100%, which is allowed under Colorado statute.
Denver South and the City of Greenwood Village, on behalf of Charter, requests consideration of this extension.
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Background and Discussion:
Charter Communications has a large presence in Arapahoe County, and Project Colony was the name of the company’s Fiddler’s Green Complex construction project. This project received a 2016 business personal property tax rebate for the creation of 797 jobs with an average wage of $93,374 and capital investment of $61.85M over the first four years.
Charter exceeded these metrics. As of 2022, the company hired 1,829 at the Project Colony site with an average wage of $180,000 - almost 195% of the committed average wage of the Project Colony Incentives Payment Agreement. In addition to employees at the Fiddler’s Green Complex, Charter hired an additional 1,605 workers in Arapahoe County who filled seats at 6175 S. Willow Drive, 11011 E. Peakview Avenue, 6380 S. Fiddler’s Green Circle and 6501 S. Fiddler’s Green Circle.
The company also exceeded its capital investment estimate by $13.7M for a total investment of $75M through 2018. Since the commencement of operations at Fiddler’s Green Complex in 2018, Charter has invested an additional $12.7M of capital at this complex to date and $49.4M at other facilities in Arapahoe County.
Charter is committed to bringing their employees back into the office. They are currently operating with employees working either wholly in the office or utilizing a hybrid approach. Specifically looking at the company’s facilities included in the 2016 agreement and amendments, employees are working over 70% of the time in the office.
The company is a valuable community partner for Arapahoe County. Their employees volunteered with “Rebuilding Together” to rebuild and repair homes of people in need in the County during the summer of 2018, and two Arapahoe County organizations, Sweet Dream in a Bag and Covered Colorado, have each been recipients of grants from Charter’s Spectrum Employee Community Grant program since 2020.
Fiscal Impact: Direct fiscal impacts to the County include the tax revenues associated with this commercial property.
Charter has submitted requests for reimbursement on four taxing entities for 2022 for a total of $181,478.16. Their reimbursement for tax year 2020, payable 2021, was not paid until earlier this year. For the same four locations a total of $264,935 was reimbursed.
Alternatives: The Board could choose not to approve this extension or to approve it for a different length of time or percentage.
Alignment with Strategic Plan:
☐Be fiscally sustainable
☐Provide essential and mandated service
☒Be community focused
Staff Recommendation:
N/A
Concurrence: N/A