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EDC director clarifies Saucy Dog Wine performance agreement amounts; council approves first reading
Summary
The city’s economic development director clarified loan and grant amounts in a performance agreement for Saucy Dog Wine; council approved first reading of Resolution 2025-10 subject to clarifying the loan forgiveness and performance metrics.
Breckenridge City Council approved the first reading of Resolution 2025-10 concerning a performance agreement between the Breckenridge Economic Development Corporation (EDC) and Saucy Dog Wine, after the EDC’s executive director clarified loan amounts and performance metrics.
Michael Perez, the EDC executive director, told council the agreement as approved by the EDC includes a $60,000 loan with performance requirements tied to payroll, and a separate $25,000 loan tied to sales-tax revenue (with up to $5,000 repayable in a given year based on sales tax performance). He said the EDC also approved a grant of roughly $43,000 to offset potential increased property tax assessment when the business opens, and a $10,000 grant tied to a verified grand-opening event. Perez said staff will rework the performance agreement language to reflect those clarifications before final execution.
Council action: a motion to approve the first reading of Resolution 2025-10 was moved, seconded and approved. Staff indicated they will return with a restructured performance agreement reflecting the clarified loan and grant terms.
Implementation: the EDC and city staff will revise the performance agreement per the clarified loan forgiveness criteria and performance triggers and bring the final document back to council for final approval.
