Economic development options considered for Commerce
Commerce – Commerce City officials have been discussing possible changes in the economic development use of the city's half-cent sales tax. The city currently adheres to the 4a structure, which refers to a specific paragraph in state statutes. The 4a sales tax is aimed at industrial development, according to Commerce City manager, Bill Shipp.
SHIPP: ...and a half-a-cent goes toward, in the case of 4a, for industrial development. Really, that money is used to bring primary jobs to town.
Officials are considering utilizing 4b of the code, which allows for greater flexibility using the city's sales tax.
SHIPP: 4b would allow a broader usage of monies. It allows for more "quality of life" type of issues, and not necessarily just purely industrial, primary jobs.
The 4b option did not exist when the original measure was voted in, and City officials are discussing the issue to determine if a change would be beneficial for Commerce.