Resolution 2012-18 - Laserfiche WebLink

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fixtures, appliances, electronics, and does not include, by way of example, food, office supplies or other consumable goods not expected to last for three or more years. 4. Payment of Rebates Cap. The maximum amount of the rebates payable pursuant to 1, 2, and 3 above shall in no event exceed the calculation of 50% of the building permit and construction use tax, and 50% of the use tax on tangible goods 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. The sales/use tax rebates shall be paid by the City in annual installments. At the end of each calendar year, on or before January 20, The Kitchen Coop shall be responsible to remit to the City their total annual sales/use tax payment on the appropriate sales/use tax return form. The Kitchen Coop shall produce a listing of all such tangible personal property which qualifies for the use tax rebate as defined in paragraph 3 above with copies of the supporting invoices or receipts. Additionally, The Kitchen Coop is to provide the City copies of invoices or receipts on which City sales tax was charged and paid to vendors for tangible personal property which qualifies for the rebate of sales tax as defined in paragraph 3 above. Within 30 days of receipt of the required documentation described, 1, the rebate payment will be remitted to The Kitchen Coop. The sales/use tax rebate is capped at $12,000, and the eligibility for rebate shall cease on a date that is two years from the date of occupancy, whether or not the cap has been met. No interest shall be paid on amounts subject to rebate. 5. Use of Funds. Funds rebated pursuant to this Agreement shall be used by The Kitchen Coop 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 Colorado Technology Center shall be fully satisfied and/or completed prior to payment to The Kitchen Coop of any rebate pursuant to this Agreement. 6. Future Fees. The rebates provided for under this Agreement are solely for the initial construction on the project. Any subsequent construction activities shall be subject to payment without rebate of all applicable building permit fees and construction use taxes. 7. Entire Agreement. This instrument shall constitute the entire agreement between the City and The Kitchen Coop and supersedes any prior agreements between the parties and their agents or representatives, all of which are merged into and revoked by this Agreement with respect to its subject matter. 8. Termination. This Agreement shall terminate and become void and of no force or effect upon the City if The Kitchen Coop has not completed the project and moved into its new facility at Colorado Technology Center by December 31, 2012; or should The Kitchen Coop fail to comply with any City code. 9. Business Termination. In the event The Kitchen Coop ceases business operations within the City within five (5) years after the new operations commence, then