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LOUISVILLE REVITALIZATION COMMISSION <br />RESOLUTION NO. 13-03 <br /> <br />A RESOLUTION APPROVING THE PROPERTY TAX INCREMENT REBATE <br />AGREEMENT WITH TRACT ONE, LLC. <br /> <br /> <br /> WHEREAS, the Louisville Revitalization Commission (LRC) is charged with <br />addressing issues contributing to blight within the Urban Renewal Area; and <br /> <br /> WHEREAS, Tract One, LLC has requested assistance from the LRC to improve <br />the public and/or private infrastructure at 707 E South Boulder Road; and <br /> <br /> WHEREAS, improving the public and/or private infrastructure within the area <br />will encourage Tract One, LLC to improve their property; and <br /> <br /> WHEREAS, a Property Tax Increment Rebate Agreement, attached hereto, has <br />been developed to outline certain financial terms regarding financial assistance for new <br />public and/or private infrastructure ; and <br /> <br /> WHEREAS, the City of Louisville is willing to construct the underpass, and the <br />Louisville Revitalization Commission is willing to assist in its funding; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF <br />COMMISSIONERS OF THE LOUISVILLE REVITALIZATION COMMISSION: <br /> <br />Section 1. The Property Tax Increment Rebate Agreement with Tract One, <br />LLC is hereby approved, subject to approval by the Louisville City Council . <br /> <br /> Section 2. The Chair of the Louisville Revitalization Commission is hereby <br />approved to sign the Property Tax Increment Rebate Agreement with Tract One, LLC <br />once approved by the Louisville City Council in accordance with the Amended and <br />Restated Cooperation Agreement between the LRC and City of Louisville dated April 5, <br />2011. <br /> <br /> ADOPTED this 8th day of July, 2013. <br /> <br /> <br /> <br /> ______________________________ <br />ATTEST: Chair <br /> <br /> <br />______________________________ <br />Secretary <br />