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COOPERATION AGREEMENT <br /> Amendment#1 <br /> Highway 42 Revitalization Area South Street Gateway Project Funding <br /> This First Amendment to Highway 42 Revitalization Area South Street Gateway Project <br /> Funding Agreement (the Cooperation Agreement) is made as of Mo.rc'- 18 , 2014, <br /> by and 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 financial assistance to the construction of the South Street Gateway to be <br /> located at the crossing of South Street under the Burlington Northern Railroad right-of-way(the <br /> Project). <br /> D. The Project is located within the area (the Plan Area) described in the Highway 42 <br /> Revitalization Area Urban Renewal Plan (the Plan). The Project will allow for a connection and <br /> access between properties and portions of the Plan Area lying east and west of the rail lines, and <br /> will be carried out in furtherance of the purposes of the Act and Plan. <br /> E. The Plan provides for financing the activities and undertakings of the LRC by <br /> means of property tax allocation or tax increment financing (Property Tax TIF) in accordance <br /> with Section 31-25-107(9) of the Act. <br /> F. The Parties previously entered into that certain Amended and Restated <br /> Cooperation Agreement dated April 5, 2011 (2011 Cooperation Agreement), which provides that <br /> the LRC shall repay to the City Costs and Expenses incurred by the City for the provision of <br /> Operating Funds and Support Services for the LRC, as further defined and set forth in the 2011 <br /> Cooperation Agreement. <br /> 1 <br />