Department of Economic Development
Reference: Amprius Technologies, Inc. Incentive Agreement Modification
To: Mayor Gregory Mills and Members of City Council
Through: Michael P. Martinez, City Manager
Prepared By: Robin Martinez, Director Brighton EDC
Date Prepared: 5/7/2024
PURPOSE
To modify the Incentive Agreement with Amprius Technologies, Inc. (“Amprius”) to reflect a new opening date.
STRATEGIC FOCUS AREA
Key industry innovation and economic competitiveness, strong local employment opportunities
BACKGROUND
On February 28, 2023, City Council approved an incentive agreement with Amprius to locate its production facility in the vacant building located at 18875 E. Bromley Lane, Brighton, CO 80601 (the “Agreement”). Amprius experienced delays during its due diligence phase, thereby setting back the construction time schedule and opening date. Amprius is requesting an amendment to the incentive agreement to reflect a new opening date.
The Opening Date in the Agreement is presently June 1, 2024. Amprius’ updated construction schedule contemplates construction beginning on April 1, 2024, with an opening date of June 1, 2025.
CRITERIA BY WHICH COUNCIL MUST CONSIDER THE ITEM
Should the Council approve the requested date change to the incentive agreement, Amprius will continue with locating their company and the 300 plus new jobs as originally planned. Should Council deny this date change, it could put the company’s decision to locate their new Brighton location at risk.
FINANCIAL IMPACT
No additional financial impacts will occur by this modification.
STAFF RECOMMENDATION
To approve the amendment as presented.
OPTIONS FOR COUNCIL CONSIDERATION
Approve the amendment as presented
Deny the amendment
Request additional negotiations
ATTACHMENTS
• Resolution
• Amendment
• Agreement