Resolution 2011-31 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR LINERATE SYSTEMS,INC.IN THE CITY OF LOUISVILLE THIS AGREEMENT("Agreement") is made and entered into as of the k day of - , 2012, between the CITY OF LOUISVILLE, a Colorado home rule municipal co oration (the "City"), and LINERATE SYSTEMS, INC., a Delaware Corporation. WHEREAS, the City wishes to provide certain assistance to LineRate Systems, Inc. in connection with the company's tenant finish of approximately 8,700 square feet of existing vacant space at 285 Century Place in Louisville(the project); and WHEREAS,LineRate Systems,Inc.plans to occupy the new facility during 2011; and WHEREAS, LineRate Systems, Inc. will bring new high-paying primary jobs to the City;and WHEREAS, City Council finds the execution of this Agreement will serve to provide benefit and advance the public interest and welfare of the City and its citizens by securing the location of this economic development project within the City. NOW THEREFORE, in consideration of the mutual promises set forth below, the City and LineRate Systems,Inc. agree as follows: 1. Building Permit Fee Rebates. The City shall rebate to LineRate Systems, Inc. 50% of the building related permit fees for the project, required under Louisville Municipal Code, section 15.04.050 and section 108.2 of the International Building Code as adopted by the City. 2. Use Tax Rebate-Construction. The City shall rebate to LineRate Systems, Inc. 50% of the Construction Use Tax on the building materials for the project, required under Louisville Municipal Code, section 3.20.300, excluding all revenues from the open space tax and historic preservation tax. 3. Sales/Use Tax Rebate-Tangible Goods. For the first five years of its operation in the City, the City shall rebate to LineRate Systems, Inc. 50% of the Use Tax (and in certain circumstances as described below, Sales Tax) paid by it and collected by the City on tangible goods purchased by LineRate Systems, Inc., limited to such taxes required to be paid under Louisville Municipal Code sections 3.20.200 and 3.20.300, and excluding all tax revenues from the open space tax and historic preservation tax. Sales Tax may be included in this rebate for purchases from vendors with nexus with the City, where the vendor remits Sales Tax to the City and where, absent such nexus, LineRate Systems, Inc. would have remitted Use Tax to the City. No rebate shall be issued for goods purchased prior to the effective date of LineRate System Inc.'s lease agreement for 285 Century Place. Further, for the purpose of this Agreement,tangible goods eligible for the rebate described herein shall mean only those durable goods purchased for use in LineRate Systems, Inc.'s business at 285 Century Place including, by way of example, computers, furniture, fixtures, appliances, and electronics. Non-durable goods including, 1