Resolution 2013-29 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR CANAIMA OUTDOORS, INC. AND 385S PIERCE LLC IN THE CITY OF LOUISVILLE THIS AGREEMENT ( "Agreement ") is made and entered into as of the day of Mfr i , 2013, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City "), and CANAIMA OUTDOORS, INC., a Colorado Corporation ( "Canaima ") and 385S Pierce LLC, a Colorado Limited Liability Company ( "Owner ") (collectively Owner and Canaima are sometimes referred to herein as the "Company "). WHEREAS, the City wishes to provide certain assistance to Owner in connection with Owner's purchase of 385 South Pierce in Louisville and modify the building for Canaima (the "Project "); and and WHEREAS, Owner plans to complete the purchase and modifications in 2013; WHEREAS, Canaima, through its and its affiliates' operations will lease space in the Owner facility to operate Canaima's business and thereby the Company will bring to the City new primary jobs paying more than the average wage in Boulder County; 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 Owner 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 Owner 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; Cap. The maximum amount of the rebates payable pursuant to paragraphs 1 and 2 above shall in no event exceed the calculation of 50% of the fees and use tax paid to the City or $3,000, whichever is lower. 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 solely for obligations, improvements and/or purposes permitted under Louisville Municipal