HomeMy WebLinkAbout031 - 03/02/1999 - REPEALING ARTICLE VII, CHAPTER 5 OF THE CITY CODE IN ORDER TO TERMINATE THE DEVELOPMENT IMPACT FEE R ORDINANCE NO. 31, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
REPEALING ARTICLE VII, CHAPTER 5 OF THE CITY CODE
IN ORDER TO TERMINATE THE DEVELOPMENT IMPACT FEE REBATE PROGRAM
WHEREAS, the City Council established by Ordinance No. 44, 1990 a program for the
rebate of impact fees for economic development, codified at Section 5-325 through 5-329 of the
Code of the City of Fort Collins (the "Development Fee Rebate Program"); and
WHEREAS, the Development Fee Rebate Program, as modified by the adoption of
Ordinance No. 123, 1994, continued in place to date; and
WHEREAS, in June, 1998,the City Council adopted Ordinance No. 111, 1998, suspending
indefinitely the operation of the Development Fee Rebate Program, in order to allow for the review
and evaluation of the City's incentive programs for economic development, including the
Development Fee Rebate Program, along with other components of the City's Economic Policy,
with a concern for tax and fee fairness and effectiveness of economic development incentive policies
and programs; and
WHEREAS, staff has completed this evaluation, and has presented for City Council
consideration a modified and comprehensive economic policy that refocuses the City's efforts away
from the use of financial incentives as a tool to stimulate economic activity; and
WHEREAS,Council has determined that termination of the Development Impact Fee Rebate
Program would be in the best interests of the citizens of Fort Collins; and
WHEREAS, City Council may reconsider the termination of the Development Fee Rebate
Program if economic and community conditions decline, or circumstances otherwise change in a
manner that results in significant growth in unemployment,reduction in sales and use tax collections,
or negative changes in other economic, fiscal, and community indicators.
NOW, THEREFORE, BE IT ORDAINED BY 'rHE COUNCIL OF THE CITY OF FORT
COLLINS that Article VII of Chapter 5 of the City Code is hereby repealed,terminating the City's
program for Rebate ofImpact Fees for Economic Development,except as applicable to Development
Fee Rebates currently in progress, and that no further applications for Development Fee Rebates
shall be accepted.
Introduced, considered favorably on first reading, and ordered published this 16th day of
February, A.D. 1999, and to be presented for final passage on the 2ndd of Mar A. . 1999.
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ATTEST:
City Clerk
Passed and adopted on final reading this 2nd day of Mar cJi;ADD. 1999.
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ATTEST:
City Clerk `