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BUSINESS ASSISTANCE AGREEMENT FOR <br />ALCHEMY TECHNOLOGIES, INC. IN THE CITY OF LOUISVILLE <br />THIS AGREEMENT ("Agreement") is made and entered into as of the ~~~ <br />day of ~S.ep,/.~,r,(~w' , 2007, between the CITY OF LOUISVILLE, a Colorado home <br />rule municipal corporation (the "City"), and ALCHEMY TECHNOLOGIES, INC., a <br />Colorado corporation. <br />WHEREAS, the City wishes to provide certain assistance to ALCHEMY <br />TECHNOLOGIES, INC. in connection with the company's tenant finish of 24,710 <br />square feet of existing space at 1558 Cherry Street in Colorado Tech Center in Louisville <br />(the project); and <br />WHEREAS, ALCHEMY TECHNOLOGIES, INC. plans to open in the new <br />facility by fourth quarter 2007; and <br />WHEREAS, ALCHEMY.' TECHNOLOGIES, INC. plans to provide additional <br />primary job creation within the City; and <br />WHEREAS, City Council finds the execution of this Agreement will serve to <br />provide benefit and advance the public interest and welfare of the City and its citizens by <br />securing the location of this economic development project within the City. <br />NOW THEREFORE, in consideration of the mutual promises set forth below, the <br />City and ALCHEMY TECHNOLOGIES, INC. agree as follows: <br />1. Building Permit Fee Rebates. The City shall rebate to ALCHEMY <br />TECHNOLOGIES, INC. 50% of the building related permit fees for the project, required <br />under Louisville Municipal Code, section 15.04.050 and section 108.2 of the <br />International Building Code as adopted by the City. <br />2. Use Tax Rebate-Construction. The City shall rebate to ALCHEMY <br />TECHNOLOGIES, INC. 50% of the Construction Use Tax on the building materials for <br />the project, required under Louisville Municipal Code, section 3.20.300, excluding all <br />revenues from the open space tai:. <br />3. Payment of Rebates. The rebates shall be paid by the City within 120 days <br />following issuance of the Certificate of Occupancy for the project, subject to 4, below. <br />Payment will be submitted to ALCHEMY TECHNOLOGIES, INC. designated financial <br />institution. No interest shall be I>aid on amounts subject to rebate. <br />4. Use of Funds. Funds rebated pursuant to this Agreement shall be used by <br />ALCHEMY TECHNOLOGIES, INC. solely for obligations and/or improvements <br />permitted under Louisville Municipal Code section 3.24.060 (as enacted by Ordinance <br />No. 1507, Series 2007). Attached hereto as Exhibit A is ALCHEMY TECHNOLOGIES, <br />