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<br />ORDINANCE NO. <br />SERIES 2010 <br /> <br />AN ORDINANCE AMENDING SECTIONS 3.24.030 AND 3.24.080.B OF THE <br />LOUISVILLE MUNICIPAL CODE TO REVISE THE DEFINITION OF ENHANCED <br />SALES TAX USED FOR PURPOSES OF THE TAX AND FEE BUSINESS ASSISTANCE <br />PROGRAM AND TO CONFIRM EXCLUSION OF HISTORIC PRESERVATION TAX <br />REVENUES FROM SUCH PROGRAM <br /> <br />WHEREAS, the City Council desires to amend the definition of enhanced sales tax <br />within the Tax and Fee Business Assistance Program; and <br /> <br />WHEREAS, the City Council further desires to amend Section 3.24.080.B of the <br />Louisville Municipal Code to expressly confirm that revenues from the historic preservation tax <br />are excluded from the Tax and Fee Business Assistance Program; <br /> <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br /> <br />Section 1. Section 3.24.010 of the Louisville Municipal Code is hereby amended to <br />revise the definition of "enhanced sales tax" to read as follows (words added are underlined, <br />word deleted are strickeR thmagh): <br /> <br />3.24.030. Definitions. <br /> <br />As used in this chapter and all sections thereof, the following phrases shall have <br />the following meanings: <br /> <br />Enhanced sales tax means the amount of sales tax collected by the city over and <br />above a base amount negotiated by, and agreed upon by, the applicant and the city, and <br />which amount is approved by the city council, which base amount shall never be lower <br />than the amount of sales taxes collected by the city at the property in question in the <br />previous twelve (12) months or, in the case of a yacancy, the last twelYe (12) months of <br />operatioR plas a reasoHable frHd agreed apOB percemage of anticipated iRcrease iB sfrles <br />taxes, or, in the case of a newly established business, an amount 'l.'hich represents the <br />good faith determiHatioB by the applicant afld the city as to the frffiOlW of sfrles taxes <br />which could be generated from the new business without the participation by the <br />applicfrHt iB the R'\P created lHlder this chapter. <br /> <br />Section 2. Section 324.080.B. of the Louisville Municipal Code is hereby amended <br />to read as follows (words added are underlined): <br /> <br />B. Without limiting the foregoing subsection A of this section, it is conclusively <br />stated that there shall be excluded from the BAP and any BAP agreement all revenues <br />from ill the temporary three-eighths percent sales and use taxes imposed for the ten-year <br />period beginning on January 1, 2004, to be used for open space and related purposes as <br /> <br />1 <br /> <br />9 <br />