(a) The authority of the City to negotiate for an incentive payment or credit with any taxpayer who establishes a new business facility in the City, as defined in Section 39-30-105(7)(E), C.R.S., or who expands a facility in the City, as defined in Section 39-30-105(7)(C), C.R.S., the expansion of which constitutes a new business facility, as defined in Section 39-30-105(7)(E), C.R.S., shall be governed by the provisions of Section 31-15-903, C.R.S., except insofar as the same may be superseded by this section.

(b) Notwithstanding any provision of Section 31-15-903, C.R.S., to the contrary, any annual incentive payment or credit authorized pursuant to this section for any taxpayer who establishes a new business facility shall not exceed 75 percent of the amount of taxes levied by the city upon the taxable personal property located at or within the new business facility and used in connection with the operation of the new business facility for the current property tax year.

(c) Notwithstanding any provision of Section 31-15-903, C.R.S., to the contrary, any annual incentive payment or credit authorized pursuant to this section for any taxpayer who expands a facility, the expansion of which constitutes a new business facility, shall not exceed 75 percent of the amount of taxes levied by the city upon the taxable personal property directly attributable to the expansion, located at or within the expanded facility, and used in connection with the operation of the expanded facility for the current property tax year. (Ord. No. 2012-12, § 1, 3-19-2012)