Resolution 2012-09 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR GLOBAL IMAGING INC. IN THE CITY OF LOUISVILLE THIS AGREEMENT("Agreement") is made and entered into as of the to day of February, 2012, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and GLOBAL IMAGING INC. (Global), a Colorado C Corporation. WHEREAS, the City wishes to provide certain assistance to Global in connection with the company's tenant finish of approximately 6,372 square feet of existing space at 2011 Cherry Street in Louisville (the project); and WHEREAS, Global plans to expand into the new space as a product demonstration facility in 2012; and WHEREAS, Global will bring new primary jobs paying more than the average wage in Boulder County 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 Global agree as follows: 1. Building Permit Fee Rebates. The City shall rebate to Global 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 Global 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. 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 5 and 6 below. 5. Use of Funds. Funds rebated pursuant to this Agreement shall be used by Global 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 2011 Cherry