(1) Contains multiple retail businesses and not less than 500,000 square feet of retail space; or

(2) Requires public improvements of a regional nature and provides substantial benefit to the city and its residents.

Such agreement or any amendment thereto may provide that all or a portion of city retail sales tax revenues generated by taxable activity on the developed property and city use tax revenues generated by the use of construction materials to build or construct any building or other structure for the benefit of such project be used to assist in financing improvements dedicated or used for public purposes to make development of the revenue-generating project feasible and to provide incentives to attract individual retail businesses to such project.

(1) the city council is authorized to enter into an agreement with a redeveloper of an existing developed site for retail uses, in whole or in part, which agreement or any amendment thereto may provide that all or any portion of the incremental city sales tax revenues generated by taxable activity on the redeveloped property and city use tax revenues generated by the use of construction materials to build, construct, or improve any building or other structure for the benefit of such project be used to assist in financing improvements dedicated or used for public purposes to make redevelopment of the revenue-generating project feasible and to provide incentives to attract individual retail businesses to such project.

(2) For purposes of this subsection (b), "incremental city sales tax revenue" means the amount by which the city sales tax revenue collected from taxable activity on the redeveloped property in any succeeding 12-month period following the base year during the term of said agreement exceeds such revenue collected from taxable activity on the redeveloped property during the base year. "Base year" shall mean any 12-month period prior to the date upon which the redeveloper is eligible to receive incentive payments as may be agreed to by the city and the redeveloper.

(1) The terms and conditions of any sales and use tax incentive shall be set forth in a written agreement between the city and the developer or redeveloper. Each such agreement or any amendment thereto shall be approved by resolution of the city council and executed by the mayor.

(2) Each agreement shall provide that the developer or redeveloper shall be responsible for the preparation and implementation of a contractor outreach plan. The purpose of the plan shall be to provide notice of subcontracting opportunities to subcontractors that (i) satisfy the criteria established by the city pursuant to section 2-682 with regard to its minority, women, and Aurora Small Business Enterprise Program and (ii) meet the qualifications for bidding on subcontracts for the planning, design, engineering, demolition, and construction of the project as determined by the developer, redeveloper, or the general contractor of such developer or redeveloper.

(3) At a minimum, the plan shall provide for proactive notice of subcontracting opportunities as selected by the developer or redeveloper, or its general contractor. The requirements of this subsection shall be satisfied if the developer or redeveloper, or its general contractor, provides notice of these opportunities through the Rocky Mountain E-Purchasing System to relevant minority, women, and Aurora Small Business Enterprises registered to receive city construction bid opportunity notices thereunder. The total amount of solicitations selected for outreach under this subsection shall not be less than 50 percent of the estimated value of all subcontracts to be let for the planning, design, engineering, demolition, and construction of the project.

(4) Where, pursuant to the terms of a contractor outreach plan, more than three qualified subcontractors seek to bid on a specific opportunity, the developer or redeveloper, or its general contractor, shall be required to receive and consider, at a minimum, the bids of the first three qualified subcontractors. The developer or redeveloper, or its general contractor, shall have the discretion to seek and accept any other bid submitted as it sees fit, including but not limited to any bid that the developer or redeveloper, or its general contractor, solicits and receives independently of its outreach plan.

(5) It is the intent of the city that all planning, design, engineering, demolition, and construction subcontracts solicited by the developer or redeveloper, or its general contractor, pursuant to this subsection be awarded solely upon the merits of the proposal submitted. Nothing in this subsection shall be construed to infer or imply that the award of any such subcontract shall be based upon anything other than the merits of the proposal.

(6) No requirements other than those specifically identified herein shall be placed on the developer or redeveloper, or its general contractor, as a result of the adoption of this subsection.