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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionCity of Colorado Springs
Jurisdiction type: Municipality
Fiscal year ending In2021
Program nameEconomic Development Incentive - Hotel/Entertainment
Program purpose: General Economic Development
Statutory authority: City Council
Abating jurisdiction(s): City of Colorado Springs
Applicable taxesSales and Use Tax
Method of abatement: Tax Rebate
Provisions for recapture: Yes
Gross revenue loss: $60,108
Reimbursement / offset: $0
Net revenue loss: $60,108
Type of loss: Active
Additional notes on dislosureThe City reviews these submissions to verify compliance with the terms of each specific agreement and then issues the payment via check back to the company. The City reserves the right to recapture any payment paid in error and requires the company to return funds when either party becomes aware of an excess payment.
Document sourcehttps://coloradosprings.gov/accounting/page/annual-comprehensive-financi...