HomeMy WebLinkAbout11125Docusign Envelope ID: 034F045F-3065-427A-9960-974B096D1909
ORDINANCE NO. 11125
AN ORDINANCE AMENDING CHAPTER 4 OF TITLE XIV OF
THE PUEBLO MUNICIPAL CODE RELATING TO AND
ESTABLISHING CRITERIA, STANDARDS, RULES AND
REGULATIONS FOR THE APPROPRIATION AND
EXPENDITURE OF FUNDS IN THE 1992-2026 SALES AND
USE TAX CAPITAL IMPROVEMENT PROJECTS FUND
WHEREAS, the people of the City of Pueblo have repeatedly extended the one-half
percent sales and use tax rate for job -creating projects within the City and the Pueblo Memorial
Airport Industrial Park; and
WHEREAS, the people of Pueblo by Ordinance Numbers 5668, 5978 and 8197 have
authorized and directed the City Council to establish by ordinance the criteria, standards, rules
and regulations for the appropriation and expenditure of revenues contained within the 1992-
2031 Sales and Use Tax Capital Improvement Fund (the "Fund"); and
WHEREAS, primary job creation is spurred by investment in infrastructure that will
encourage development; and
WHEREAS, primary job creation is spurred by encouraging projects of economic
significance that will act as economic catalysts and further expand the City of Pueblo's sales
tax base; and
WHEREAS, the long-term management and maintenance of the community is crucial
for economic development by ensuring a vibrant, attractive, and sustainable environment that
will attract and retain residents, businesses, and investment; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: (brackets indicate matter
being deleted, underscoring indicates new matter being added)
SECTION 1.
Chapter 4 of Title XIV of the Pueblo Municipal Code, as amended, is hereby amended
to read as follows:
Sec. 14-4-85.1. Sales and Use Tax Capital Improvement Project Fund; definitions.
(2) Capital improvement project or project means a project or improvement of a
permanent or fixed nature and includes the acquisition of property (both real property and
tangible personal property, except inventory or property held for sale to customers in the
ordinary course of business), the construction, extension, remodeling or rehabilitation of
buildings or structures within which individuals are customarily employed or which are
customarily used to house machinery or equipment, and the installation or extension of streets,
sanitary sewer, water or other utilities required to serve a project or Economic Catalyst
Project, promote Place Making, or prevent Economic Leakage. Capital improvement project
or project also means a regional tourism project, approved by the Colorado Economic
Development Commission, which qualifies for state sales tax increment revenue pursuant to
the Colorado Regional Tourism Act, C.R.S. 24-46-301 et seq.
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L2 Economic Catalyst Project means a project that has a substantial impact
on the economic well-being of the City, community, or region by substantially stimulating
economic growth and development, creating new jobs, increasing consumer spending,
expanding the tax base, or attracting further investment in the City, community, or
region.
(3.2) Economic Leakage means the reduction of economic activity within the
City caused by the outflow of resources, such as money and tax revenues from the local
economy, hindering growth and expansion of the community.
L2 Place Making means the process and act of creating high -quality public
spaces and amenities that encourage people to want to live, work, play, and learn in the
City, community, or region.
(7) Primaryjob means:
u a full-time position in private sector employment by manufacturing,
business, commercial or service industries producing, assembling or distributing
products or providing services primarily or ultimately for sale, consumption, or use
outside of the City and County of Pueblo, Coloradoll
u Primaryjob also means] employment resulting from a regional tourism
project, approved by the Colorado Economic Development Commission, which qualifies
for state sales tax increment revenue pursuant to the Colorado Regional Tourism Act,
C.R.S. 24-46-301 et seq.; and
(c) employment resulting from an Economic Catalyst Project.
SECTION 2.
Chapter 4 of Title XIV of the Pueblo Municipal Code, as amended, is hereby amended
to read as follows:
Sec. 14-4-85.3. — Sales and Use Tax Capital Improvement Projects Fund; approval,
criteria and standards.
(b) Each of the following criteria and standards must be met before City Council may
by resolution approve an application for funds:
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u The total amount expended on one or more Economic Catalyst,
Economic Leakage, or Place Making Projects in any given year shall not exceed,
in aggregate, fifteen percent (15%) of the total uncommitted fund balance in the
Sales and Use Tax Capital Improvement Fund as of January 1 of that year.
SECTION 3.
Sec. 14-4-85.5. Sales and Use Tax Capital Improvement Project Fund; special categories.
(1) Acquisition of land and construction of so-called shell buildings or the acquisition,
remodeling and renovation of existing buildings for the purpose of preventing Economic
Leakage, or making such buildings available for Place Making, or applicants or potential
applicants who meet the standards and criteria of this Chapter.
(3) Land acquisition, infrastructure development and professional services
associated therewith to prevent Economic Leakage and to establish and facilitate Place
Making or the creation of primaryjobswithin the City and enhance the City's tax base, including
but not limited to establishment and development of one (1) or more industrial parks or
development sites.
SECTION 4.
The officers and staff of the City are authorized to perform any and all acts consistent with
this Ordinance and the attached Agreement which are necessary or appropriate to implement the
transactions described therein.
SECTION 5_
This Ordinance shall become effective on the date of final action by the Mayor and City
Council.
Introduced and initial adoption of Ordinance by City Council on February 09, 2026.
Final adoption of Ordinance by City Council on February 23, 2026.
LDocuSigned by:
a(
President of City Council
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Action by the Mayor:
❑ Approved on 02/24/2026
❑ Disapproved on
based on the following objections:
FSigned by:
Mayor
Action by City Council After Disapproval by the Mayor:
❑ Council did not act to override the Mayor's veto.
❑ Ordinance re -adopted on a vote of , on
❑ Council action on
ATTEST si,.Qd,,
Deputy City erk
failed to override the Mayor's veto.
President of City Council
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City Clerk's Office Item # S6
COUNCIL MEETING DATE: February 23, 2026
TO: President Mark Aliff and Members of City Council
CC: Mayor Heather Graham
VIA: Marisa Stoller, City Clerk
FROM: Carla Sikes, City Attorney
SUBJECT: AN ORDINANCE AMENDING CHAPTER 4 OF TITLE XIV OF THE
PUEBLO MUNICIPAL CODE RELATING TO AND ESTABLISHING
CRITERIA, STANDARDS, RULES AND REGULATIONS FOR THE
APPROPRIATION AND EXPENDITURE OF FUNDS IN THE 1992-2026
SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND
SUMMARY:
Attached is a proposed Ordinance which expands the definition of "primary job" and
"capital improvement project" and "project" to include projects of economic significance
which act as economic catalysts.
PREVIOUS COUNCIL ACTION:
The Half -Cent Sales Tax Criteria Ordinance was amended by City Council by Ordinance
No. 8509, dated August 27, 2012, Ordinance No. 8801 dated November 24, 2014, and
Ordinance No. 9698 dated April 13, 2020.
BACKGROUND:
The 1992-2026 Sales and Use Tax Capital Improvement Projects Fund, commonly
referred to as the "half -cent sales tax fund," was established by voters years ago and
has been extended multiple times for the purpose of funding job -creating capital
improvement projects within the City. By voter -approved Ordinance 8197 dated
November 2, 2010, City voters delegated to City Council the authority and responsibility
to initially establish and then amend, by ordinance, appropriate criteria, standards, rules
and regulations for the appropriation and expenditure of monies in the Fund.
FINANCIAL IMPLICATIONS:
The Fund currently contains more than $60 million dollars in unobligated funds. The
proposed Ordinance would authorize City Council to spend half -cent sales tax funds,
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either through a loan or a direct investment, to prevent economic leading, to promote
place making projects, or to complete economic catalyst projects.
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this Ordinance.
STAKEHOLDER PROCESS:
Not applicable to this Ordinance.
ALTERNATIVES:
A no -action alternative will maintain the status quo.
RECOMMENDATION:
None.
ATTACHMENTS:
1. Ordinance