Resolution 2011-82 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR WESTCON GROUP NORTH AMERICA, INC. IN THE CITY OF LOUISVILLE THIS AGREEMENT ("Agreement") is made and entered into as of the 6 day of December, 2011, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and WESTCON GROUP NORTH AMERICA, INC., ("Westcon, Inc.") a New York Corporation. WHEREAS, the City wishes to provide certain assistance to Westcon, Inc. in connection with the company's tenant finish of approximately 21,200 square feet of existing vacant space at 363 Centennial Parkway in Louisville (the project); and WHEREAS, Westcon, Inc. plans to occupy the new facility in the first half of 2012; and WHEREAS, Westcon, 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 tle'mutual promises set forth below, the . City and Westcon, Inc. agree as follows:. 1. Building Permit Fee Rebates. The City shall rebate to Westcon, 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 Westcon, 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 3. Payment of Rebates Cap. The maximum amount of the rebates payable pursuant to 1 and 2 above shall in no event exceed the calculation of 50% of the fees paid to the City. The building permit fee rebate shall be paid by the City within 120 days following issuance of the Certificate of Occupancy for the project, subject to paragraphs 4 and 5 below. No interest shall be paid on amounts subject to rebate. 4. Use of Funds. Funds rebated pursuant to this Agreement shall be used by Westcon, Inc. solely for obligations and/or improvements permitted under Louisville Municipal Code section 3.24.060 (as enacted by Ordinance No. 1507, Series 2007), which may include tenant improvements for occupancy of vacant space or the expansion or creation of jobs within the City. The eligible obligations and/or improvements to 363 Centennial Parkway shall be fully satisfied and/or completed prior to payment to Westcon, Inc. of any rebate pursuant to this Agreement.