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municipal corporation, and that exercise of said powers in the manner set <br />forth in this chapter is in furtherance of the public health, safety and welfare. <br />Notwithstanding any provision of this chapter, the City shall never be a joint <br />venturer in any private entity or activity which participates in the EAP, and <br />the City shall never be liable or responsible for any debt or obligation of any <br />participant in the EAP. <br />Sec. 3.25.030. Definitions. <br />As used in this chapter and all sections thereof, the following terms <br />and phrases shall have the following meanings: <br />Applicant means the owner(s) of a capital intensive targeted <br />business located or proposed to be located within the City. <br />Capital intensive business means a business that requires a <br />large amount of upfront investment in fixed assets, such as land, <br />buildings, machinery, tools, or software, to produce goods or <br />services. <br />Enhanced assistance means a rebate of up to one hundred percent <br />(100%) of sales and use taxes on machinery, machinery tools, software, <br />and property used in space flight collected by the City from a capital <br />intensive targeted business. Enhanced assistance shall exclude all <br />revenues derived from: (i) the City's temporary 0.375% sales and use tax <br />for open space and parks approved at the November 7, 2023 election; (ii) <br />the temporary 0.125% sales tax for historic preservation approved at the <br />November 7, 2017 election; (iii) the temporary 0.125% sales and use tax for <br />open space approved at the November 7, 2023 election; (iv) the 0.15% <br />sales and use tax for the Louisville Recreation & Senior Center approved at <br />the November 8, 2016 election; and (v) any future special sales or use taxes <br />imposed following the effective date of the EAP agreement between the City <br />and the applicant. <br />Targeted business means a business engaged in an industry <br />Economic Council,Gufrernr •, he targeted icw ndustfies- i e aerespace, <br />> > <br />recreation but the Boulder Chamber of Corr coerce may change its list <br />Sec. 3.25.040. Basis for participation. <br />Ordinance No. 1888, Series 2024 <br />Page 3 of 8 <br />