Resolution 2015-33 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR PASTA FRESCA, INC. IN THE CITY OF LOUISVILLE THIS AGREEMENT ( "Agreement ") is made and entered into as of the _ ;U day of IiLrnt_. , 2015, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City "), and FRESCA FOODS, INC. (the "Company ") a Colorado Corporation. WHEREAS, the City wishes to provide certain business assistance in connection with expansion of the Company's operations (the "Project ") at 1775 Cherry Street, Louisville, Colorado (the "Project Location "); and WHEREAS, Company intends to make tenant improvements to the Project Location; and WHEREAS, Company plans for the Project to generate new quality jobs within the City and expand an existing employer in the City; 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 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 for the Project. 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, for the Project. 3. Payment of Rebates: Cap; Inspection. The maximum amount of the rebates payable pursuant to Sections 1 and 2 above shall in no event exceed the calculation of 50% of the fees or taxes described in Sections 1 and 2 paid to the City. The building permit fee and construction use tax rebates shall be paid by the City within 120 days following issuance of the certificate of occupancy or final inspection for the Project work, as determined by the City, subject to Sections 4 and 5 below. 4. No Interest; Inspection and Disclosure of Records. No interest shall be paid on any amounts subject to rebate under this Agreement. Each party Page 1 of 5