Enhanced Tax Incentive Program (ETIP)
To reactivate the Entertainment District with a vibrant mix of restaurants, entertainment venues, retail businesses, and similar establishments, the City launched an Enhanced Tax Incentive Program (ETIP) in 2021. This program supports the district’s redevelopment efforts, aiming to stimulate the economic and social vitality of the district.
The ETIP includes a sales, construction, admissions and lodging tax share back feature where a portion of the City’s revenue from taxes collected by the business is returned to the business in the form of a financial incentive or grant. The ETIP is designed to encourage current property owners, as well as prospective tenants, to establish and maintain businesses that align with the district’s vision – a dynamic place where residents and visitors may gather to dine, shop, and enjoy leisure and recreational activities.
The ETIP is set to expire seven (7) years from the date during which it was initially approved by the City Council, unless at any time, the City Council can terminate or extend the program.
The ETIP is just one of several initiatives the City has launched to encourage business growth and reinvestment in the district. Key efforts include the creation of the Lone Tree Business Improvement District (BID) and the establishment of the Lone Tree Urban Renewal Authority (LTURA). Combined with the City’s active business recruitment efforts, these initiatives are aimed at contributing to the transformation of Lone Tree’s Entertainment District into an exciting and thriving destination.
For more information or to apply for the ETIP, contact Jeff Holwell, Director of Economic Development and Public Affairs, at jeff.holwell@cityoflonetree.com or 303-708-1818.