The City of Loveland Jobs Creation Incentive Program shall expire on December 31, 2025, unless renewed or otherwise extended via adoption of an Ordinance by City Council. Any Incentive Payment contracts entered into prior to such expiration shall remain in effect until the ending date of such contracts. The Director of Finance shall file an annual report with Council, no later than October 1st , of each year, detailing the total number of Qualified Businesses participating, the total number of New Jobs and Qualifying New Payroll approved, or the total amount of Corporate Net Earnings tax credits claimed for the preceding tax year, if granted to a Qualifying Business, as applicable. (Ord. 2022-125. Passed 12-13-22.)