Title
Ordinance No. 16-67 amending Section 102 (Definitions) of Article 12 (Economic Development Agreements) of Chapter 2 (Business Licensing, Liquor Regulation and Taxation) of the Code of the City of Colorado Springs 2001, as amended, pertaining to commercial activity
Presenter:
Dan Gallagher, Director of Aviation, Colorado Springs Airport
Body
Summary:
In 2004, City Council established guidelines for economic development agreements ("EDA'') with businesses and prospective employers seeking to relocate to or expand within the City.
In 2014, City Council established a commercial aeronautical zone ("CAZ'') wherein sales and use tax exemptions would be established for certain commercial aeronautical activities within the boundaries of the CAZ. The CAZ has far exceeded its original projections, not only in new businesses occupying vacant facilities, but driving the demand for new construction.
In 2015, the City Council established supplemental EDA guidelines within the Commercial Aeronautical Zone (CAZ), specifically for off-Airport property as it relates to the construction of new, expanded or renovated facilities to better respond to this emerging demand and to create procedural efficiencies.
Although the Commercial Aeronautical Zone (CAZ) continues to be successful in the retention and recruitment of businesses at COS, Airport staff is proposing amending the supplemental EDA guidelines to further clarify, streamline and enhance development opportunities at the Colorado Springs Airport.
Therefore, in order to enhance economic development within the Commercial Aeronautical Zone (CAZ), Airport staff is proposing changes to the supplemental EDA process for properties located off-Airport, within the CAZ as set forth in the proposed ordinance.
Previous Council Action:
City Council previously approved Ordinance No. 15-46 on August 11, 2015.
Background:
In September 2004, City Council passed Resolution No. 203-04, which authorized business...
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