Economic Development Department
Reference: City of Brighton Economic Development Business Incentive Policy
To: Mayor Gregory Mills and Members of City Council
Through: Michael P. Martinez, City Manager
Prepared By: Michael Masciola, Economic Development Manager and
Robin Martinez, Economic Development Director
Date Prepared: 2/12/2025
PURPOSE
The purpose for updating our incentive policy is to create specific guidelines and structure for the City's economic business incentive offers with the intent to:
* Create a structured process with identified guidelines for eligibility, parameters, incentive types, and processes
* Create an expedited process to meet the demands of the current market
* Align Brighton's incentives with the City's strategic plan and objectives
* Remain competitive among other communities
BACKGROUND
The EDC staff have spent several months exploring the competition, current market, needs and challenges of the business community. Staff interviewed local, regional, and national site selectors, developers, Brighton EDC Investors, and other companies to understand what the best practices and competition look like both locally and nationally. We spoke with local developers and brokers who have worked in partnership with the City for several years to better understand what is working and what is not working as it relates to the City's current processes. The number one incentive companies are looking for is an expedited timeline process, followed by cost savings to help reduce the impact of rising costs and fees related to real estate, construction, and utilities.
When creating the incentive policy and Expedited Development Review Process, the EDC reviewed incentive agreements approved by Brighton City Council over the last 10 years, as well as current incentive policies being offered in other local communities. We then created the initial draft and recommendations for review and comments by City Manager Martinez, Deputy City Manager Falco...
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