Business
Business News from companies in Boulder, Colorado
Boulder approves “incentive” for another innovative energy companyy
Jan 27th
City Manager approves business incentive for Eetrex
City Manager Jane S. Brautigam has approved a flexible rebate application for Boulder-based Eetrex Incorporated, for up to $26,000 in rebates. The rebates were authorized for sales and use taxes, and permit-related fees.
The flexible rebate program is one of the city’s business incentives, covering a wide range of fees, equipment and construction use taxes. Under this program, the city manager may consider a specific incentive package for tax and fee rebates to meet a company’s specific needs. The company is then eligible for the rebate after it has made its investment and paid the taxes or fees to the city.
“Eetrex is part of the new energy economy and is leading innovation in power electronics and battery systems,” Brautigam said. “The city is pleased that its incentives are helping Eetrex grow and stay in Boulder.”
Employees of the Eetrex Corporarion
Eetrex develops power electronics and battery systems for the electric and plug-in hybrid-electric vehicles, telecommunications, and computing industries. The company is also the leading developer of on-vehicle inverter-chargers, known as Invergers™. Its battery systems are being used in demonstration projects to show how they can effectively store energy from wind and solar generation to offset peak loads and utilize clean energy more effectively. In 2006, Eetrex was founded in Boulder and moved into a larger 9,700 square-foot space at 4900 Pearl East Circle, Suite 110, in June 2011.
Kathryn Miles, president of Eetrex, said, “Eetrex is committed to supporting the community and establishing our business as an environmentally conscious company. Not only is our technology helping to green the transportation industry and support alternative energy, but we also encourage employees to ride their bicycles to work along with our zero waste practices. We are very pleased to receive this award in recognition of our efforts.”
The flexible rebate program uses social, community, and environmental sustainability guidelines. Companies choose the guidelines that best fit their circumstances, but must meet minimum requirements in order to receive the rebate. Eetrex has exceeded the minimum requirements of the community sustainability guidelines. Of note, Eetrex is implementing a zero waste policy through Green Girl Recycling and is a member of the 10 for Change challenge, which included an energy audit of its facility. The company also will request an EnergySmart training through the city’s Local Environmental Action Division.
Eetrex’s flexible rebate application is one of six submitted to the city in late 2011. Four 2011 applications are pending. The city’s approved 2012 budget includes $350,000 in funding for 2012 flexible tax and fee rebates for primary employers.
For more information about the city’s economic vitality program, go to www.bouldercolorado.gov, click on “Business,” or call Liz Hanson at 303-441-3287.
Boulder gets heavy hitter law firm for first swing at Xcel
Jan 23rd
Law firm chosen to aid city in potential condemnation proceedings with Xcel Energy
The City of Boulder has selected the law firm of Duncan, Ostrander & Dingess, PC to help the city as it begins potential condemnation proceedings for the electric utility system within city limits that is currently owned by Xcel Energy. The firm will advise the city in all matters related to the acquisition of electrical distribution facilities and will work to determine the fair value of those facilities.
The city has retained this counsel to provide expert assistance as it moves towards potential municipalization of the electrical distribution system in Boulder, which stems from the passage of ballot items 2B and 2C in November. The city has said it intends to hire outside legal counsel, as well as engineering consultants, to perform some of the work necessary to determine the final costs associated with acquiring Xcel’s system and starting a city-owned electrical utility. City Council will not make a decision about whether to issue bonds to pursue municipalization until those costs are known.
If the city decides to proceed with asset acquisition, and a price cannot be negotiated with Xcel Energy, Duncan, Ostrander & Dingess, PC will file all legal actions that may be necessary to work through the condemnation process. The firm will work closely with city staff and Federal Energy Regulatory Commission (FERC) counsel, engineers and appraisers as the city creates a separation plan and conducts negotiations.
Duncan, Ostrander & Dingess, PC was chosen from a field of 10 original submissions that was narrowed down to three finalists after a review of all credentials. In evaluating submitted proposals, the city looked at whether the firm had prior experience representing governments in condemnation proceedings, and the nature and extent of its practice in Colorado.
Duncan, Ostrander & Dingess, PC has more than 30 years (as individuals and then as a firm) of service helping governments, urban renewal authorities and utility companies to acquire property for public projects in a timely manner and at fair prices, and has previously represented the City of Boulder in condemnation proceedings. In 2011, U.S. News & World Report designated the law firm as “Best Lawyers Tier One – Eminent Domain and Condemnation, and Litigation – Eminent Domain and Condemnation.”
The firm and its individual members have served as lead counsel for a number of high-profile public projects that required acquisition of multiple parcels in numerous jurisdictions under time restraints imposed by bond financing or other public financing. These include E-470, T-REX, Prairie Waters, FasTracks, the White Cliffs Pipeline and the Rocky Mountain Express Pipeline.
For more information on Duncan, Ostrander & Dingess, PC, visit www.dodpc.com. Visit www.BoulderEnergyFuture.com for more information on the city’s work related to potential municipalization.
Boulder Co. homeowners– the Big Bite is in the mail
Jan 21st
Property tax notices to be mailed
Boulder County, Colo. – Tax notices will be mailed to 122,045 taxpayers this upcoming week, according to Bob Hullinghorst, Boulder County Treasurer. The taxes collected this year will exceed $485 million, up from $462 million in 2011 or 4.7 percent, to help pay for schools, roads, public safety and other expenses for 135 taxing authorities.
Homeowners are 79 percent of the taxpayers in the county, but under the “Gallagher Amendment,” they pay only 51 percent of the tax bill, with businesses required to pay the remainder. Personal property taxes are also collected from 5,737 businesses, utilities and energy companies on the equipment they own or lease.
Taxpayers without mortgage escrow accounts may choose to make two payments, starting Feb. 29, or a single payment on April 30. Under Colorado law, taxpayers who are late must be charged 1 percent per month as interest to cover extra processing, not as a penalty. Taxes postmarked before the deadlines will not be charged interest.
Payments may also be made in person at the Boulder County Courthouse from 8 a.m. to 4:30 p.m. Monday through Friday. The Treasurer has two collection locations for taxpayers who bring their coupons and pay by check (no cash) at the Longmont Senior Center, 910 Longs Peak Ave. or the Louisville Recreation Center, 910 Via Appia from 10 a.m. to 3 p.m. on Feb. 24 and 27-29, April 25-27 and 30, and June 12-15. The Treasurer’s regular branch offices will also be open in Longmont every Monday and in Lafayette every Tuesday.
Electronic checks and credit card payments may only be made on the web at www.bouldercounty.org/treasurer or by calling 800-272-9829. E-checks are still being accepted at no charge, but the company processing credit card payments is charging 2.5 percent, or $50 for a $2,000 tax bill.
Any taxpayer who does not get a notice by Feb. 1 should call the Treasurer’s Office at 303-441-3520, as Colorado law states failure to receive a notice is no excuse for not paying taxes when they are due. “We do our best to get each notice delivered to the right address, but with moves, sales and refinances all impacting addresses, we get about 1.5 percent of our notices returned as undeliverable,” Hullinghorst said.
Hullinghorst commented that getting the notices out this year was a minor miracle, as the Boulder County Assessor delivered tax data to the Treasurer from new software that had never produced a tested tax roll. Hullinghorst complimented the staff of the Assessor’s Office, especially Deputy Assessor Cindy Braddock, and their software contractor, Bill Witham, an ex-marine with Manatron. Hullinghorst also recognized key Treasurer’s staff, especially Lola Nelson and Alycia Allshouse.
“Taxpayers may be like students wishing for a snow day,” said Hullinghorst. “But if I had to delay our notices by two weeks, it would have cost thousands more and delayed major distributions of needed revenue to many governments. Our printer and mail contractor, Output Services Inc. of Boulder, bent over backwards to help us meet our deadline.”
