HomeMy WebLinkAbout910099.tiff RESOLUTION
RE: ADOPTING A POLICY CONCERNING THE AUTHORITY OF WELD COUNTY TO NEGOTIATE INCENTIVE
PAYMENTS TO TAXPAYERS WHO ESTABLISH NEW BUSINESS FACILITIES OR WHO EXPAND
EXISTING BUSINESS FACILITIES WITHIN THE COUNTY.
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant
to Colorado statute and the Weld County Home Rule Charter, is vested with the
authority of administering the affairs of Weld County, Colorado, and
WHEREAS, the Board of County Commissioners of Weld County is desirous of
promoting economic development activities within the County for the purposes of
stimulating the general well-being of the County and the generation of employment
opportunities; and
WHEREAS, Senate Bill 118 was passed by the Colorado General Assembly and became
law on April 24, 1990, and provides that the County may negotiate incentive payments
to taxpayers who establish new business facilities or who expand existing business
facilities.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the County hereby adopts the following policy:
To implement the provisions of Senate Bill 90-118, and the following additional
provisions:
1. Incentive payments may be negotiated with a qualifying new
business facility or expanded business facility, as referenced
by C.R.S. 30-11-123.
2. The annual incentive payment pursuant to this policy will not be
greater than 50% of the amount of the taxes levied by the County
upon the taxable personal property located at or within such new
business facility or directly attributable to the expansion of
an existing business facility, and used in connection with such
facility for the current property tax year.
3. Incentive payments may be available to any qualifying new or
expanding business which is a "basic" industry, which creates
primary jobs, imports dollars into the community, and which also
meets the following criteria or exclusions:
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RE: TAX INCENTIVE PAYMENT POLICY
A. New or expanding business shall not include any
corporate reorganization, sale of an existing business
or resumption of business activities unless new
investment is created.
B. An eligible new or expanding business shall derive at
least 50% of its principal source of gross annual
income from the sale of products or services consumed
outside of Weld County either directly, or indirectly.
The intent of these guidelines is to assist firms
engaged in manufacturing, processing, research and
development, and provision of externally directed
services, e.g. insurance claims.
C. An eligible new or expanding business shall not derive
more than 25% of its gross annual income from direct
retail sales or other internally directed sales.
4. Eligible new or expanding businesses shall invest a minimum of
$100, 000 in a new business facility or expanded business
facility, as referenced by C.R.S. 30-11-123 during the calendar
year in which application is made for the incentive payment.
5. The term of the written agreement made pursuant to this policy
shall not exceed four years and is subject to revenue and annual
appropriations.
6. The County will notify any municipality or school district in
which a new business facility is located or an expanded business
facility is located, whichever is applicable, of any negotiated
written agreements with such facilities.
7. The County, in cooperation with municipalities and school
districts, will promulgate procedures which will implement this
policy.
8. Incentive payments will be made on a case-by-case basis.
9. Any decision concerning a specific application shall not set
precedent for future applications.
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RE: TAX INCENTIVE PAYMENT POLICY
10. This policy shall only be implemented if the State Legislature
amends state statutes that make any payments under this policy
excluded from the calculation of any Weld County Home Rule or
State property tax limitation.
11. This policy shall be void if a State Constitutional or Home Rule
Charter provision limiting the property taxes collected or
revenues collected by the County is passed by the voters from
this date forward or if the authority for exclusion from
property tax limits is held unconstitutional or invalid by a
court of competent jurisdiction.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 20th day of February, A.D. , 1991.
ATTEST:
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BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, OLORADO
Weld County Clerk to the Board
Go o NAY
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By: r/'�f g-A,S tz.' ---��
Deputy Clerk to the Beatc( eorg� a Kennedy, Pro Tem
APPROVED A TO FORM: f ` °/�,
Gf':, iY�,r:-•. <�. ; (AYE)
Constance L. Harbert
(AYE)
County Attorney C. W,.g Kirby
W. H. Webste t � (AYE)
910099
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