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and/or other significant community benefits, which might include but would not be <br />limited to providing outdoor and indoor public spaces, public art, affordable housing, <br />transportation infrastructure improvements, (add additional community benefits <br />possibilities). <br />The LRC and the City will not typically award a property tax increment rebate towards <br />any particular project that exceeds 50% of the tax increment for period longer than five <br />(5) years from the first collection of the incremental property taxes attributable to the <br />project. However, for projects that provide extraordinary community benefits and that <br />will generate substantial additional sales and other taxes for the City, the LRC and the <br />City may consider awarding up to a 90% property tax increment rebate for a period of <br />up to ten (10) years. <br />A property tax increment award shall automatically expire if the property is sold or <br />transferred by the applicant to a non -related entity. <br />Applicants for tax increment property tax rebates or other financial assistance must first <br />obtain the City's required land -use approvals for the project prior to receiving approval <br />by the LRC and the by the City for the financial assistance. <br />Applicants must submit all pertinent project financial information related to the project <br />and the developer organization, including estimated development costs and a financing <br />and operating plan. All financial information will be subject to a City -appointed third - <br />party review by a qualified appraiser and/or real estate consultant. <br />All information submitted to the LRC or to the City is subject to public disclosure <br />consistent with the requirements of the Colorado Open Records Act, the City of <br />Louisville Charter, and related City, policies and ordinances. <br />The application for property tax increment rebate assistance may be found on the City's <br />website at the following address: <br />http://www.louisvilleco.gov/home/showdocument?id=22682 <br />Contact Information <br />For additional information on Louisville's Urban Renewal assistance options, please <br />contact Aaron DeJong at 303.335.4531 or aarond@louisvilleco.gov. <br />-3 <br />