Resolution 2013-12 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR TWELVE DEGREE BREWING, LLC IN THE CITY OF LOUISVILLE THIS AGREEMENT("Agreement") is made and entered into as of the S day of RA2Gy , 2013, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and TWELVE DEGREE BREWING, LLC ("Company"), a Colorado limited liability company. WHEREAS, the City wishes to provide certain assistance to Company in connection with the Company's intended building modifications and tenant finish to 820 Main Street Unit 101 in Louisville (the"Project"); and WHEREAS, Company plans to expand into the new location in 2013; and WHEREAS, Company plans for the project to generate new sales tax revenue by the attraction, opening and operation of a micro-brewery 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 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 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. 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. 3. Payment of Rebates. The maximum amount of the rebates payable pursuant to 1, and 2 above shall in no event exceed the calculation of 50% of the fees paid to the City. The building permit fee and use tax rebates shall be paid by the City within 120 days following issuance of the certificate of occupancy for the Project, subject to paragraphs 4 and 5 below. No interest shall be paid on any amounts subject to rebate. 4. Use of Funds. Funds rebated pursuant to this Agreement shall be used by Company solely for obligations, improvements and/or purposes permitted under Louisville Municipal Code section 3.24.060, which may include tenant improvements for occupancy of vacant space or the expansion or creation of jobs within the City. The eligible obligations, improvements and/or purposes for the Project shall be fully satisfied, completed and/or achieved prior to payment to Company of any rebate pursuant to this Agreement.