ECONOMIC DEVELOPMENT

Silver Cliff population:
512 (2000 census), 589 (Dept. of Local Affairs 2005 estimate)

Silver Cliff is comprised of 9,390 acres:
193 acres zoned for commercial and light industrial uses
334 acres zoned residentially
8,114 acres zoned for agricultural use
749 acres are residential acres in Silver Cliff Ranch

With an increasing trend towards "working-at-home", Silver Cliff allows home occupations by Board approval.

ECONOMIC DEVELOPMENT INCENTIVE POLICY

POLICY

The Town of Silver Cliff, Colorado, is committed to encouraging new or existing business expansion in the areas of retail, commercial and light industrial/manufacturing that will bring quality economic growth to our community. The Town also supports pursuing commercial/industrial growth that compliments existing businesses. The Town is extremely interested in improving its tax base, improving property values and expanding job growth that will sustain long-term economic success and provide beneficial returns to Silver Cliff and its citizens.

In an effort to encourage new or expanding business development, the Town of Silver Cliff may offer incentives, on a case-by-case basis, to qualifying businesses that are interested in locating in Silver Cliff.

The Town of Silver Cliff has established the following incentive guidelines.

ELIGIBILITY REQUIREMENTS

1. The business must make a minimum investment of $100,000 in plant and/or equipment during the calendar year in which application is made for incentives.

2. The business must create/retain qualifying jobs with an overall annual wage that is at or above the overall Custer County average annual wage rate of all commercial/industries.

3. The business must be willing to provide company information to determine an economic impact analysis that estimates the total economic benefits to Silver Cliff and the incentive payback period. To be eligible for incentives, the payback period must be within 5 years.

4. The business must provide on-going company information for monitoring purposes. (All company information will be held in strict confidence.) Upon incentive approval by the Silver Cliff Board of Trustees, the company will be required to enter into an agreement with the Town of Silver Cliff guaranteeing that mutually agreed to investment/jobs will be created within a specific period of time. If the company is unable to reach guaranteed levels, the Town of Silver Cliff will have the ability to recover payments on either a full or pro-rated basis.

INCENTIVES

The following incentives shall be available, on a case-by-case basis.

Development/Building Permit Fees

1. The following fees may be reduced or waived: Building permit fees, development fees, impact fees.

	a.	Fees waived cannot exceed fees required.
	b.	Contracted building permit fees are not eligible for waiver.
	c.	The Town of Silver Cliff reserves the right to provide relief on infrastructure requirements on a case-by-case basis, and will actively apply for federal and state grant dollars to encourage high quality investment and job creation as appropriate.

2. Up to one-half (50%) of use tax due to the Town of Silver Cliff on building materials from the new construction project may be waived, on a case-by-case basis.

Taxes

Personal Property Taxes:
1. Up to one-half (50%) of the qualifying new personal property tax received by the Town of Silver Cliff may be rebated back to a qualifying company, on a case-by-case basis, for up to four (4) years.

	a.	The new/expanding business meets Town of Silver Cliff eligibility criteria.
	b.	The new/expanding business qualifies as a "New Business Facility" defined by the state as: "a new or expanded facility that is employed by the taxpayer in the operation of a revenue producing enterprise."
	c.	State enabling legislation is in effect.

Property Tax:
1. Property tax paid to the Town of Silver Cliff on qualifying new/expanded business projects may be rebated back to a qualifying company, on a case-by-case basis, for up to four (4) years.

a.

This applies only to property tax derived from Silver Cliff's mill levy.

Sales Tax:
Up to one-half (50%) of sales tax collected for the Town of Silver Cliff from "new revenues" generated by the qualifying new/expanded business may be rebated back to a qualifying company, on a case-by-case basis, for up to four (4) years.

CONTACT SILVER CLIFF

For more information, contact the Town Administrator at 719-783-2615 or email.