Resolution 2014-32 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR TUSAAR CORP. IN THE CITY OF LOUISVILLE • T AGREEMENT ("Agreement") is made and entered into as of the3d-day of , 2014, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and TUSAAR CORP., a Colorado.Corporation ("Company"). • WHEREAS, the City wishes to provide certain assistance to Company in connection with Company's new location at 385 South Pierce in Louisville (the "Project"); and WHEREAS, Company or its landlord plans to make modifications to the building in 2014; and WHEREAS, 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 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; 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 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. 1 •