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The following terms, as used in this article, shall have the meanings designated unless the context specifically indicates otherwise, or unless the meaning is excluded by express provision:
BUSINESS: The sale, offering for sale or the furnishing of any commodity, article, facility or service or any person engaged in the sale, offering for sale or the furnishing of any commodity, article, facility or service.
BUSINESS PERSONAL PROPERTY: "Tangible personal property" as that term is defined in section 2.7.104 of this chapter.
BUSINESS PERSONAL PROPERTY TAX: The tax on business personal property as assessed and collected by the El Paso County Assessor and paid to the El Paso County Treasurer based upon a mill levy imposed by the City.
COMMERCIAL ACTIVITY: Any lawful activity undertaken as part of a commercial enterprise or conduct or regular course of conduct that is of a commercial character.
COMMERCIAL AERONAUTICAL ZONE OR CAZ: "Commercial aeronautical zone" as that term is defined in article 7 of this chapter.
CONSTRUCTION MATERIALS: "Construction materials" as that term is defined in section 2.7.104 of this chapter.
INCENTIVE: The amount or amounts paid or credited by the City to a business pursuant to an economic development agreement executed in accord with this article.
NEW BUSINESS FACILITY: A new, expanded or renovated business facility that is placed in use after the commencement date of an economic development agreement executed in accordance with this article.
NEW JOBS: The number of jobs created and held by full time employees of a business at a new business facility that exceeds the number of jobs held by employees of the business within the City immediately prior to the commencement date of an economic development agreement executed in accord with this article. For the purposes of this definition, "full time employee" means an employee who works an average of not less than thirty five (35) hours per week.
PERSON: An individual, firm, corporation, business trust, estate, trust, partnership, association, company, organization, sole proprietorship or any other legal entity.
SALES TAX: "Sales tax" as that term is defined in subsection 2.7.103A of this chapter.
USE TAX: "Use tax" as that term is defined in subsection 2.7.103B of this chapter. (Ord. 15-46; Ord. 16-67)