Resolution 2012-65 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR ALFALFA'S MARKET, INC. IN THE CITY OF LOUISVILLE THIS AGREEMENT ("Agreement") is made and entered into as of the fG day of 4224 / 20 12( between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation ("the City"), and ALFALFA'S MARKET, INC., a Colorado Corporation ("the Company"). WHEREAS, the City wishes to provide certain business assistance in connection with the Company's leasing and occupancy of approximately twenty- two thousand (22,000) square feet to operate a full service natural foods grocery store ("the Project") located at 707 East South Boulder Road, Louisville ("the Project Location"); and WHEREAS, the Company would be a tenant in a potential mixed-use redevelopment at the Project Location; and WHEREAS, the Company is evaluating several locations to expand its operations; and WHEREAS, the City anticipates the Project would generate significant new sales tax revenue and therefore merits incentives from the City to encourage the attraction, opening and operation of the Project in 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 this economic development project within the City. NOW THEREFORE, in consideration of the mutual promises set forth below, the City and the Company agree as follows: • 1. Building Permit Fee Rebate. The City shall rebate to the Company 50% of the building related permit fees for the initial construction of 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. Such rebate will be disbursed within 30 days after notice from the Company that the work is complete and a temporary certificate of occupancy or occupancy permit has been issued for the Project. 2. Use Tax Rebate-Construction. The City shall rebate to the Company 50% of the Construction Use Tax on the building materials for the initial construction of the Project, required under Louisville Municipal Code, section 3.20.300, excluding all revenues from the open space tax and historic preservation tax. Such rebate will be disbursed within 30 days after notice from the Company that the work is complete and a temporary certificate of occupancy or occupancy permit has been issued for the Project. Pagel of 6