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A. Any owner of a proposed capital intensive targeted, or the <br />owner of an existing capital intensive targeted business which proposes <br />to expand substantially, may apply to the City for inclusion within the EAP, <br />provided that the proposed new or expanded business meets the eligibility <br />criteria set forth in subsection B. Application for inclusion in the EAP must <br />be made prior to the proposed opening, acquisition, or expansion. <br />B. To be eligible for enhanced assistance under this section, a <br />capital intensive targeted business must meet the following criteria: <br />1. The average annual wage of the business's employees <br />must be at least eighty percent (80%) of the annual average wage <br />for Boulder County, not including the value of any employee benefits. <br />2. An expanding business must show expansion in terms <br />of personnel, production, or product lines. <br />C. Enhanced assistance may be used by a capital intensive <br />targeted business only for machinery, machinery tools, software, and <br />property used in space flight. <br />D. Enhanced assistance may be provided to capital intensive <br />targeted businesses meeting the above -listed criteria in lieu of or in addition <br />to the BAP assistance authorized under chapter 3.24. <br />E. Capital intensive Targeted businesses not meeting the <br />above -listed criteria are not eligible for enhanced assistance, but may apply <br />for BAP assistance pursuant to chapter 3.24. <br />Sec. 3.25.050. Approval of agreement; conditions; term. <br />A. Execution of an agreement by the City and an applicant <br />implementing the EAP shall entitle the applicant to enhanced assistance in <br />an amount not to exceed the amount specified in the agreement required <br />by section 3.25.080. <br />B. The time period for enhanced assistance shall not commence <br />until all public or public -related improvements are completed and meet City <br />standards (where applicable) and until the capital intensive targeted <br />business has commenced its operations or completed its expansion within <br />the City. <br />Ordinance No. 1888, Series 2024 <br />Page 4 of 8 <br />