As used in this part 3, unless the context otherwise
requires:
(1) Base year revenue means the state sales tax revenue collected during
the twelve-month period immediately prior to the month in which a regional tourism
project is authorized, as determined by the department of revenue.
(1.5) Baseline growth rate means the forecasted growth in state sales tax
revenue above the base year revenue that would be collected in a proposed
regional tourism zone if the proposed regional tourism project did not occur, as
determined pursuant to section 24-46-304 (1.5).
(2) Commission means the Colorado economic development commission
created in section 24-46-102.
(3) Director means the director of the Colorado office of economic
development created in section 24-48.5-101.
(4) Eligible costs means the costs of designing, constructing, financing,
and maintaining eligible improvements designated by the commission as part of an
approved regional tourism project, including but not limited to costs of engineering,
construction engineering, surveying, construction surveying, construction labor and
materials, design, planning, legal services, accounting, overhead or administrative
staffing, financing, bond issuance or reissuance, underwriting, interest payments,
loan origination fees, and similar necessary and convenient costs incurred by the
financing entity in exercising its powers pursuant to this part 3. Moneys advanced
by private developers within the regional tourism project to the financing entity for
eligible improvements, whether pursuant to loans or contractual funding and
reimbursement agreements, together with reasonable interest thereon, shall be
eligible costs. In addition, the financing entity's costs for purchasing eligible
improvements constructed and owned by third parties either prior to or subsequent
to designation of the regional tourism project shall be eligible costs. Costs and
expenses incurred by the financing entity pursuant to section 24-35-118 and in
complying with its annual report and audit obligations under this part 3 shall be
eligible costs.
(5) Eligible improvements means the specific improvements authorized by
the commission as part of an approved regional tourism project, whether publicly or
privately owned, including but not limited to storm sewer and sanitary sewer
collection, conveyance, distribution, treatment, and related facilities and real
property interests necessary or convenient thereto; potable and nonpotable water
supplies and collection, conveyance, distribution, treatment, and related facilities
and real property interests related thereto; roads; streets; state highways; rights-of-way; lighting; traffic signals and signs; direction and location signage and similar
signage; land acquisition; surveying, engineering, soils testing, site planning,
grading, and similar activities necessary or convenient for site preparation and
development; park and recreational facilities; trails and paths; public safety
facilities; landscaping; tourism and entertainment facilities; transportation facilities;
surface and structured parking facilities; and any other facilities or improvements
necessary to or convenient for the completion of an approved project.
(6) Financing entity means the entity designated by the commission in
connection with its approval of a regional tourism project to receive and utilize
state sales tax increment revenue. A financing entity may be a county revitalization
authority created pursuant to article 31 of title 30, a metropolitan district created
pursuant to title 32, an urban renewal authority created pursuant to part 1 of article
25 of title 31, or any regional tourism authority to be formed pursuant to this part 3.
(7) Financing term means the aggregate period authorized by the
commission pursuant to this part 3 within which the financing entity is authorized to
receive and utilize state sales tax increment revenue to finance eligible costs.
(7.5) Gambling-related activities means any betting, wagering, or
payments made on or in connection with one or more games that qualify as
gambling as defined in section 18-10-102 (2), or limited gaming as defined in section
9 of article XVIII of the state constitution and section 44-30-103 (22).
(8) Local government means a city, county, city and county, or town or a
group of contiguous cities, counties, city and counties, or towns.
(9) Regional tourism authority or authority means a corporate body
organized pursuant to this part 3 for the purposes, with the powers, and subject to
the restrictions set forth in this part 3 and the formation of which has been
approved by the commission pursuant to this part 3.
(10) Regional tourism project or project means a development project
that is planned to include a tourism or entertainment facility together with ancillary
uses, structures, and improvements, and that has been approved by the commission
pursuant to this part 3.
(11) Regional tourism zone means the geographic area defined by the
commission as part of an approved regional tourism project. A regional tourism
zone shall not extend into the territorial boundaries of any local government except
for the local government that is requesting the designation of the regional tourism
zone. A regional tourism zone may be limited to portions of a local government and
may include noncontiguous tracts or parcels of property.
(12) State sales tax increment revenue means the portion of the revenue
derived from state sales taxes, including any revenue attributable to the baseline
growth rate, collected within a designated regional tourism zone in excess of the
amount of base year revenue. State sales tax increment revenue does not include
any additional revenue derived from state sales taxes that are due to the changes
set forth in section 39-26-105 (1)(d), enacted in 2019 and as amended thereafter, to
the amount retained by a vendor to cover the vendor's expenses in collecting and
remitting sales tax.
(13) Tourism or entertainment facility means a facility or group of
interrelated facilities constructed primarily for use as a tourism or entertainment
venue that is reasonably anticipated to draw a significant number of regional,
national, or international patrons. A tourism or entertainment facility may include
but need not be limited to museums, stadiums, arenas, major sports facilities,
performing arts theaters, theme or amusement parks, conference center or resort
hotels, or other similar venues. Tourism or entertainment facility shall not include
any facility or group of interrelated facilities that directly or indirectly offer, make
available, or facilitate in any manner one or more gambling-related activities.