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RESOLUTION NO. 50 SERIES 2006 A RESOLUTION APPROVING A TRI-PARTY AGREEMENT AMONG THE COUNTY OF BOULDER, CITY OF LOUISVILLE AND LOUISVILLE REVITALIZATION COMMISSION WHEREAS, the City of Louisville (the City) is a home-rule city and municipal corporation duly organized and existing under and pursuant to Article XX of the Colorado Constitution and Charter of the City; and WHEREAS, the Louisville Revitalization Commission (the LRC) is a public body corporate and politic authorized to transact business and exercise its powers as an urban renewal authority under and pursuant to the Colorado Urban Renewal Law, Part 1 of Article 25 of Title 31, C.R.S. (the Act); and WHEREAS, the County of Boulder (the County) is a body corporate and politic authorized to exercise its powers under and pursuant to the Colorado Constitution and state law; and WHEREAS, pursuant to the Act, the City Council passed and adopted Resolution No. 37, Series 2006 approving the Highway 42 Revitalization Area Urban Renewal Plan (the Plan) to carry out the urban renewal project (the Urban Renewal Project) described in the Plan for the area described therein (the Urban Renewal Area); and WHEREAS, the Act includes and the Plan contains a provision authorizing the financing of the Urban Renewal Project utilizing tax increment financing as further provided in the Plan and as authorized by Section 31-25-107(9) of the Act; and WHEREAS, Section 31-25-107(11) of the Act permits and authorizes the City, County and LRC to enter into agreements for allocation of responsibility among the parties to the agreement for payment of the costs of any additional county infrastructure or services necessary to offset the impacts of an urban renewal project and for the sharing of revenues; and WHEREAS, pursuant to Section 31-25-107(3.5), the City and LRC submitted an urban renewal impact report for the Plan to the County and the County submitted its response thereto, and an agreement has been proposed among the City, County and LRC to address issues raised in discussion of the urban renewal impact report; and WHEREAS, the City desires to enter into such an agreement as authorized under Section 31-25-107(11 ); NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: