Ordinance 2024-1888 - Laserfiche WebLink

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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Title 3 of the Louisville Municipal Code is hereby amended by the addition of a new Chapter 3.25 to read as follows: CHAPTER 3.25 ENHANCED ASSISTANCE FOR CAPITAL INTENSIVE TARGETED BUSINESSES Sec. 3.25.010. Established. Sec. 3.25.020. Findings, intent, and purpose. Sec. 3.25.030. Definitions. Sec. 3.25.040. Basis for participation. Sec. 3.25.050. Approval of agreement; conditions; term. Sec. 3.25.060. EAP payments. Sec. 3.25.070. Criteria for approval. Sec. 3.25.080. Agreement with City; required contents. Sec. 3.25.010. Established. There is established within the City an Enhanced Assistance Program for T Capital Intensive Businesses ("EAP"). Sec. 3.25.020. Findings, intent, and purpose. A. The purpose of the EAP created by this chapter is to encourage the recruitment, retention, establishment, and/or substantial expansion within the City of certain capital intensive tafgeted businesses; IT/software, natural products, and outdoor recreation. B. The City Council specifically finds and determines these capital intensive targeted businesses have a greater -than -average potential to create a large number of jobs with high earning potential for residents of the City and others, and to otherwise stimulate the City's economy, and following the period of assistance under this chapter, the potential to increase the taxes and fees collected by the City, which increased tax and fee collections will enable the City to provide expanded and improved municipal services to and for the benefit of the residents of the City. C. The City Council further specifically finds and determines that creation of the EAP is consistent with the City's powers as a home rule Ordinance No. 1888, Series 2024 Page 2 of 8