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Thornton council and TDA approve business incentives, infrastructure reimbursement and land transfer for school rebuild
Summary
Council approved economic incentives for Kiosk Information Systems and View House, reappointed directors for Westwood Metro District, and the Thornton Development Authority approved a $3.9M infrastructure reimbursement for Confluent Development, a $3.93M TDA budget amendment, and an IGA to transfer 5.39 acres to Adams 12 Five Star Schools for a Thornton High School rebuild (asbestos remediation required).
The Thornton City Council and Thornton Development Authority (TDA) approved a bundle of economic-development and redevelopment actions at the meeting.
Kiosk Information Systems: Economic development staff presented an incentive package for Kiosk, a kiosk manufacturer relocating its U.S. headquarters to Thornton. Staff said Kiosk projects a $9,000,000 investment, will relocate 149 existing employees and expects to add 30-plus jobs over five years. The recommended incentive is a 30% rebate of eligible city sales and use tax over three years; staff provided an estimated new income figure and said the city will retain 70% of new income projections. Council member Russell introduced the resolution and the council voted unanimously to approve the incentive.
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