Resolution 2012-18 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR THE KITCHEN COOP INC. IN THE CITY OF LOUISVILLE THIS AGREEMENT("Agreement") is made and entered into as of the day of February, 2012, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and THE KITCHEN COOP INC. (The Kitchen Coop), a Colorado C Corporation. WHEREAS, the City wishes to provide certain assistance to The Kitchen Coop in connection with the company's tenant finish of approximately 25,000 or more square feet of existing space at Colorado Technology Center in Louisville(the project); and WHEREAS, The Kitchen Coop plans to invest funds to remodel existing industrial space in the Colorado Technology Center into a commercial commissary kitchen for a food incubator in 2012; and WHEREAS, The Kitchen Coop will bring new 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 The Kitchen Coop agree as follows: I. Building Permit Fee Rebates. The City shall rebate to The Kitchen Coop 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 The Kitchen Coop 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 two years of operation in Louisville, the City shall rebate to The Kitchen Coop, 50% of the Use Tax (and in certain circumstances as described below, Sales Tax) paid and collected on tangible goods purchased for the company, as required under Louisville Municipal Code, section 3.20.300, excluding all tax revenues from the open space tax and historic preservation tax. In certain circumstances, Sales Tax may be included in this rebate, when the purchases were from companies with nexus with the City, therefore allowing those companies to remit sales tax to the City. Absent such nexus, The Kitchen Coop would have remitted use tax to the City. No rebate shall be issued for goods purchased prior to the date of The Kitchen Coop's lease for property in Louisville. Only those tangible goods purchased for use at the Louisville business location shall qualify for rebate consideration. Tangible goods include, by way of example, computers, furniture,