Resolution 2012-47 - Laserfiche WebLink

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Tangible goods include, by 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 31, Company shall be responsible to remit to the City their total annual sales /use tax payment on the appropriate sales /use tax return form. Company 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, Company 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 Company at the mailing address of the 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. No interest shall be paid on amounts subject to rebate. 7. Use of Funds. Funds rebated pursuant to this Agreement shall be used by Company 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 1795 Dogwood Street shall be fully satisfied and/or completed prior to payment to Company of any rebate pursuant to this Agreement. 9. Entire Agreement. This instrument shall constitute the entire agreement between City and Company 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. 10. Termination. This Agreement shall terminate and become void and of no force or effect upon the City if Company has not completed the project and moved into its new facility in the Colorado Technology Center by December 31, 2012; or should Company fail to comply with any City code. 11. Business Termination. In the event Company ceases business operations within the City within five (5) years after the new operations commence, then in such event Company shall pay to the City the total amount of fees and use taxes which were due and payable by Company to the City but were rebated by the City, as well as reimburse the City for any funds provided to Company pursuant to this Agreement. 12. Subordination. The City's obligations pursuant to this Agreement are subordinate to the City's obligations for the repayment of any current or future bonded