Title
Ordinance No. 16-66 amending Section 201 (Definitions) and 213 (Economic Development Agreements) of Part 2 (General Provisions) of Article 1 (Municipal Airport Advisory Commission) of Chapter 14 (Municipal Enterprises) of the Code of the City of Colorado Springs 2001, as amended, authorizing economic development agreements with businesses performing commercial activities at the Colorado Springs Airport
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 on-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 on-Airport, within the CAZ as set forth in the proposed ordinance.
Previous Council Action:
City Council previously approved Or...
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