Resolution 2012-19 - Laserfiche WebLink

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way of example, computers, furniture, 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 fees paid to the City. The building permit fee rebate shall be paid by the City within 30 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, Pearl iZumi shall be responsible to remit to the City their total annual sales /use tax payment on the appropriate sales /use tax return form. Pearl iZumi 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, Pearl iZumi 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, the rebate payment will be remitted to Pearl iZumi at the mailing address of the new building in the Colorado Technology Center. The sales /use tax rebate on tangible goods is capped by the percentages and regulated by the processes stated above, and the eligibility for rebate shall cease on a date that is five years from the date of occupancy of the new site in the Colorado Technology. No interest shall be paid on amounts subject to rebate. 5. Sales Tax Rebates for Sales of Retail Goods. The City shall rebate to Pearl iZumi 40% of the incremental sales tax revenues derived from the imposition of the City's 3.0% general sales tax (excluding the City's three- eights percent (% %) Open Space Tax and the one - eighth percent (1/8 %) Historic Preservation Tax) that is actually collected by the City and attributable to new retail sales attributable solely to the project and occurring at the project location in the Colorado Technology Center and generated within the first five years of its operation. The five -year rebate period shall commence upon and run continuously from the date of issuance of the certificate of occupancy for Pearl iZumi. Rebates shall not exceed five years of operation. 6. Payment of Sales Tax Rebates for Sales of Retail Goods. The sales tax rebates shall be paid by the City in annual installments and shall be made on or before January 31st. No interest shall be paid on amounts subject to rebate. 7. Use of Funds. Funds rebated pursuant to this Agreement shall be used by Pearl iZumi 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 the Project shall be fully satisfied and /or completed prior to payment to Pearl iZumi of any rebate pursuant to this Agreement. 8. 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