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COOPERATION AGREEMENT <br />This Agreement (the Cooperation Agreement) is made as of I 0 , 2006, by and <br />between the CITY OF LOUISVILLE, COLORADO (the City) and the LOUISVILLE <br />REVITALIZATION COMMISSION (the LRC). The City and the LRC are sometimes referred <br />to herein individually as a Party and collectively as the Parties. <br />RECITALS <br />A. The City is a home -rule city and municipal corporation duly organized and <br />existing under and pursuant to Article XX of the Colorado Constitution and Charter of the City <br />(the Charter). <br />B. The LRC is a public body corporate and politic authorized to transact business and <br />exercise its powers as an urban renewal authority under and pursuant to the Colorado Urban <br />Renewal Law, Part 1 of Article 25 of Title 31, C.R.S. (the Act). <br />C. The Act and Section 18, Article XIV of the Colorado Constitution authorize the <br />Parties to enter into cooperation agreements, and the Parties desire to enter into this Cooperation <br />Agreement respecting operating funds, support services, and general oversight of the LRC to be <br />provided by the City to the LRC and related matters. <br />AGREEMENT <br />NOW THEREFORE, in consideration of the foregoing and the following terms and <br />conditions, the Parties agree as follows: <br />1. Advance of Operating Funds by the City. The City may annually advance to the <br />LRC an amount of operating funds (Operating Funds) to be determined by appropriation by the <br />City Council of the City. Operating Funds shall be used by the LRC for operating, <br />administrative, consulting and other costs incurred by the LRC in accordance with the Act, <br />including, without limitation, the costs and expenses of Support Services described in Section 2, <br />below. Operating Funds shall be paid directly to the LRC to be used in accordance with the Act, <br />this Cooperation Agreement and the City - approved LRC budget. <br />2. Support Services. The City agrees to provide administrative and legal support <br />services (Support Services) to the LRC in connection with its operations. The City Manager <br />shall serve as Director of the LRC as provided in the Act and shall have discretion to employ <br />those City staff members as may be required to carry out the duties and operations of the LRC. <br />Support Services may include, without limitation, planning, financing and accounting, <br />engineering, legal, and administrative and outside consulting services. <br />1 <br />