City Council Minutes 2023 09 19 - Laserfiche WebLink

Home Browse Search

City Council Meeting Minutes September 19, 2023 Page 4 of 9 Staff will bring back a resolution of support on October 2. RESOLUTION NO. 55, SERIES 2023 — A RESOLUTION OF THE LOUISVILLE CITY COUNCIL URGING LOUISVILLE CITIZENS TO VOTE YES ON BALLOT ISSUE 2C AT THE NOVEMBER 7, 2023 ELECTION CONCERNING THE CITY'S OPEN SPACE AND PARKS SALES AND USE TAX Mayor Maloney introduced the item. City Manager Durbin stated this is an important measure to fund the City's parks and open space. Public Comment — None MOTION: Mayor Pro Tern Fahey moved to approve Resolution No. 55; seconded by Councilmember Most. VOTE: Motion passed by unanimous roll call vote. ORDINANCE NO. 1857, SERIES 2023 — AN ORDINANCE AMENDING TITLE 3 OF THE LOUISVILLE MUNICIPAL CODE CONCERNING THE CITY'S TAX AND BUSINESS ASSISTANCE PROGRAM SET FORTH IN CHAPTER 3.24, AND TO ADD A NEW CHAPTER 3.25 REGARDING ENHANCED ASSISTANCE FOR AEROSPACE BUSINESSES — 2nd READING, PUBLIC HEARING (advertised Daily Camera 9/10/23) Mayor Maloney introduced the item and opened the public hearing. Economic Vitality Specialist Austin Brown stated this ordinance makes amendments to the City's Business Assistance Program (BAP) by codifying the City's practice of rebating consumer use taxes and establishes a new provision offering enhanced assistance to businesses in the aerospace industry. He reviewed the history of the BAP program and how it has been used over the years. He stated the changes around the Consumer Use Tax include adding a definition and requiring businesses to remain open for 10 years or pay back 10% of assistance for each year of the 10 that the business fails to remain open. The enhanced assistance to Aerospace Businesses includes consideration to provide up to 100% rebate of sales/use taxes in these 3 categories for a period of up to 10 years if additional criteria is met. The State has a sales and use tax exemption for qualified property used in space flight and the City and County of Broomfield currently offers this exemption as well. Many jurisdictions also offer rebates and exemptions for the purchases of machinery or machine tools for manufacturing. Additionally, many jurisdictions offer tax agreements on software.