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ORDINANCE NO. 1865 SERIES 2023 AN ORDINANCE AMENDING CHAPTER 3.24 OF THE LOUISVILLE MUNICIPAL CODE REGARDING THE CITY'S TAX AND FEE BUSINESS ASSISTANCE PROGRAM WHEREAS, the City Council adopted Chapter 3.24 of the Louisville Municipal Code ("City Code") pursuant to Ordinance No. 1507, Series 2007, which established the City's Tax and Fee Business Assistance Program ("BAP"), authorizing the rebate of certain taxes and fees to businesses to encourage the recruitment, retention, establishment and/or substantial expansion of sales tax generating businesses and employers within the City, thereby stimulating the economy of and within the City, providing employment for residents of the City and others, further expanding the goods and services available for purchase and consumption by businesses and residents of the City, and further increasing the sales taxes and fees collected by the City for the purpose of enabling the City to provide expanded and improved municipal services and public - related improvements for the benefit of the City's residents; and WHEREAS, pursuant to Ordinance No. 1575, Series 2010, the City adopted a 3.65% tax for using, storing, distributing or otherwise consuming tangible personal property or taxable services inside the City ("consumer use tax'), which became effective following voter approval; and WHEREAS, following the City's adoption of the City's consumer use tax in 2010, the City began authorizing rebates of the City's consumer use tax under authority implied from the BAP; and WHEREAS, the City Council desires to amend Chapter 3.24 of the City Code to expressly authorize rebates of consumer use tax revenues under the BAP to any business meeting the base criteria for rebates under the program; and WHEREAS, the City Council further desires to amend Chapter 3.24 of the City Code to codify the City's practice of requiring, by written agreement with applicants under the BAP, a percentage reimbursement of enhanced sales taxes and fees rebated under the BAP if an applicant business fails to remain open for at least ten (10) years following certificate of occupancy at the business location. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Section 3.24.030 of the Louisville Municipal Code is hereby amended to read as follows (words to be added are underlined; words to be deleted are triGken thre gh); Sec. 3.24.030. - Definitions. Ordinance No. 1865, Series 2023 Page 1 of 5