Resolution 2012-47 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR SEAKR ENGINEERING, INC. IN THE CITY OF LOUISVILLE THIS AGREEMENT ( "Agreement ") is made and entered into as of the 7th day of August, 2012, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City "), and SEAKR ENGINEERING, INC. (the "Company "), a Colorado C Corporation. WHEREAS, the City wishes to provide certain assistance to Company in connection with the company's expansion in the Denver Metro Area at 1795 Dogwood Street in the Colorado Technology Center in Louisville (the Project); and WHEREAS, Company plans to occupy the Project in the third quarter of 2012; and WHEREAS, Company will create new primary jobs paying more than the average wage in Boulder County within 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 Company agree as follows: 1. Building Permit Fee Rebates. The City shall rebate to Company 50% of the City's 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. Any building permits are eligible for this rebate if the permit is issued within 36 months of the date of this agreement. 2. Use Tax Rebate - Construction. The City shall rebate to Company 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. Construction Use Tax paid on eligible purchases made within 36 months of this agreement is eligible for the rebate. 3. Sales/Use Tax Rebate - Tangible Goods. For 36 months after the date of this agreement, the City shall rebate to Company, 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, Company would have remitted use tax to the City. No rebate shall be issued for goods purchased prior to the date of Company's lease for the Project. Only those tangible goods purchased for use at the new site in the Colorado Technology Center shall qualify for rebate consideration. filifrf"4.