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TITLE 3 - REVENUE AND FINANCE
<br />Chapter 3.24 TAX AND FEE BUSINESS ASSISTANCE PROGRAM
<br />the city council, which base amount shall never be lower than the amount of sales taxes collected by the
<br />city at the property in question in the previous 12 months.
<br />Fees means the amount of building permit fees, consumer use taxes, and construction use taxes
<br />collected by the city during the construction permitting process for initial construction and establishment of
<br />a project participating in the BAP created under this chapter.
<br />Operator means the owner or potential owner of a business that is eligible for inclusion in the BAP
<br />created by this chapter.
<br />Owner means the record owner or potential record owner of real property upon which one or more
<br />business is operated.
<br />(Ord. No. 1507 -2007, § 1, 1 -16 -2007; Ord, No 1571 -2010, § 1, 5 -4 -2010)
<br />Sec. 3.24.040. Basis for participation.
<br />Participation in the BAP shall be based upon approval by a majority of the entire city council,
<br />exercising its legislative discretion in good faith. Any owner or operator of a proposed business, or the
<br />owner or operator of an existing business which proposes to expand substantially, may apply to the city
<br />for inclusion within the BAP, provided that the proposed new or expanded business is reasonably likely to
<br />generate enhanced or increased sales taxes, permit fees, consumer use taxes and /or construction use
<br />taxes within the city in the first y arexpansion period of operation. Application for inclusion in the BAP
<br />must be made prior to the proposed opening, acquisition or expansion.
<br />(Ord. No. 1507 -2007, § 1, 1 -16 -2007)
<br />Sec. 3.24.050. Approval of agreement; conditions; effect.
<br />Approval by the city council of an agreement implementing the BAP shall entitle the successful
<br />applicant to share in enhanced sales taxes and fees derived from the applicant's property or business in
<br />an amount which shall not exceed that amount specified in the agreement required by section 3.24.100;
<br />provided, however, that the applicant may use said amounts only for public or public - related
<br />improvements such as those specified in section 3.24.060 and which are expressly approved by the city
<br />council at the time of consideration of the application. The time period in which said enhanced sales taxes
<br />or fees may be shared shall not commence until all public or public - related improvements are completed
<br />and meet city standards, and shall be limited by the city council, in its discretion, to a specified time,
<br />which shall not exceed ten years, or until a specified amount is reached.
<br />(Ord. No. 1507 -2007, § 1, 1 -16 -2007)
<br />Sec. 3.24.060. Permitted use of funds.
<br />A. The uses to which said shared enhanced sales taxes or fees may be put by an applicant shall be
<br />strictly limited to obligations and /or improvements which are public or public - related in nature, and
<br />which are specifically identified as eligible for BAP funding as part of the agreement required by
<br />section 3.24.100 and which, if required by the city, are subject to a subdivision agreement or
<br />development agreement executed pursuant to, respectively, section 16.12.100 or section 17.28.260
<br />of this code.
<br />B. By way of example and not limitation, eligible obligations and improvements which are public or
<br />public - related in nature include streets, sidewalks, curbs, gutters, pedestrian malls, street lights,
<br />drainage facilities, landscaping, decorative structures, redevelopment of existing properties,
<br />occupancy of existing vacant space, new sales tax generation, expansion or creation of jobs in the
<br />city, public art, fountains, identification signs, traffic safety devices, bicycle paths, off - street parking
<br />Louisville, Colorado, Code of Ordinances Page 2
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