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RESOLUTION NO. 34 SERIES 2014 A RESOLUTION APPROVING OF A CORE PROJECT AREA AGREEMENT AND AMENDED TERM SHEET FOR THE HIGHWAY 42 CORE PROJECT AREA WHEREAS, the Louisville Revitalization Commission (LRC) is charged with addressing issues contributing to blight within the Urban Renewal Area; and WHEREAS, Takoda Properties, Inc. and DELO, LLC, respectively, the property owner and developer of the proposed Downtown East Louisville Planned Unit Development have requested assistance from the LRC to improve the public infrastructure within the Highway 42 Core Project Area; and WHEREAS, improving the public infrastructure within the Core Project Area will encourage property owners within the area to redevelop their properties in furtherance of the goals and purposes of the Highway 42 Revitalization Area Urban Renewal Plan; and WHEREAS, a Core Project Area Agreement has been proposed among the LRC, the City of Louisville (City) and Takoda Properties, Inc. to outline the financing and scope of the public infrastructure improvements within the Core Project Area proposed to be financed through a future issuance by the LRC of property tax increment revenue bonds; and WHEREAS, the LRC desires to modify certain terms of the Core Area Infrastructure Project Term Sheet approved by LRC Resolution 13 -02 on May 13, 2013 and requires approval from the Louisville City Council in accordance with the Intergovernmental Agreement approved on December 6, 2006 and further amended on April 5, 2011.. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO THAT: Section 1. The Core Project Area Agreement among the LRC, City of Louisville and Takoda Properties, Inc. is hereby approved in the form of such Agreement accompanying this Resolution. Section 2. The Amended Core Area Infrastructure Project Term Sheet included as Exhibit C of the Core Project Area Agreement is hereby approved in the form set forth in said Exhibit C. Section 3. The Mayor is authorized to execute the Agreement on behalf of the City, provided and after such time as the Agreement has been executed by Takoda Properties, Inc. and the Agreement and Amended Term Sheet have been approved by the . City Council of the City in accordance with the Amended and Restated Cooperation Agreement between the City and LRC. The Mayor is further authorized to negotiate and Resolution No. 34, Series 2014 Page 1 of 2