HomeMy WebLinkAboutOrdinance-2002-1240
CITY OF WHEAT RIDGE, COLORADO
INTRODUCED BY COUNCIL MEMBER Edwards
Council Bill No 01-2002
Ordinance No \.2~~1
Series of 2002
TITLE
AN ORDINANCE AMENDING SECTION 22-77 OF THE
WHEAT RIDGE CODE OF LAWS, CONCERNING THE
ENHANCED SALES TAX INCENTIVE (ESTIP) PROGRAM
WHEREAS, Section 22-73, et seq of the Wheat Ridge Code of Laws establishes
an Enhanced Sales Tax Incentive (ESTIP) Program, which program is designed to
encourage the location of new and expanded businesses in the City by means of
sharing with such businesses a share of the increased sales taxes derived therefrom,
and
WHEREAS, presently the program limits the amount of such shared sales taxes
to a maximum of fifty (50) percent of the increase in such taxes derived from the new or
expanded business, and
WHEREAS, it is the desire of the Council to increase the flexibility of the Council,
in passing upon proposals from potential new or expanded businesses, to provide
financial incentives to such businesses
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WHEAT RIDGE,
COLORADO
Section 1. Code Section 22-77 Amended. Section 22-77 of the Wheat Ridge
Code of Laws is hereby amended to read
See 22-77 Approval of agreement; use of funds generally
Approval by the city council of an agreement implementing
this ESTIP shall entitle the successful applicant to share in
enhanced sales taxes derived from applicant's property or
business in an amount which shall not in any event exceed
fifty (50) percent of the enhanced sales taxes, provided,
however, that applicant may use such amount only for public
and/or public-related purposes such as those specified
herein and which are expressly approved by the city council
at the time of consideration of the application The time
period in which the enhanced sales taxes may be shared
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shall not commence until all public or public-related
improvements are completed, and shall be limited by the city
council, in its discretion, to a specified time, or until a
specified amount is reached
Section 2 Safety Clause The City Council hereby finds, determines, and
declares that this Ordinance is promulgated under the general police power of the City
of Wheat Ridge, that it is promulgated for the health, safety, and welfare of the public
and that this Ordinance is necessary for the preservation of health and safety and for
the protection of public convenience and welfare The City Council further determines
that the Ordinance bears a rational relation to the proper legislative object sought to be
attained
Section 3. Severability: Conflicting Ordinances Repealed If any section,
subsection or clause of this ordinance shall be deemed to be unconstitutional or
otherwise invalid, the validity of the remaining sections, subsections and clauses shall
not be affected thereby All other ordinances or parts of ordinances in conflict with the
provisions of this ordinance are hereby repealed
Section 4. Effective Date This Ordinance shall take effect immediately
upon adoption.
INTRODUCED, READ, AND ADOPTED on first reading by a vote of 8 to
o on this 14th day of January , 2002, ordered published in
full in a newspaper of general circulation in the City of Wheat Ridge and Public Hearing
and consideration on final passage set for January 28 , 2002, at 7'00
o'clock pm, in the Council Chambers, 7500 West 29th Avenue, Wheat Ridge,
Colorado
READ, ADOPTED AND ORDERED PUBLISHED on second and final reading by
a vote of 7 to 0 ,this 28th day of January , 2002
SIGNED by the Mayor on this
29th day of
,2002
ATTEST
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Wanda Sang, City Clerk
Approved As To Form
GED\53027\3748QQ,Q1
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First Publication January 17, 2002
Second Publication January 31, 2002
Wheat Ridge Transcript
Effective Date January 28, 2002
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