Resolution 2015-39 - Laserfiche WebLink

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FIRST AMENDMENT TO AMENDED AND RESTATED BUSINESS ASSISTANCE AGREEMENT FOR CABLE TELEVISION LABORATORIES, INC. IN THE CITY OF LOUISVILLE This First Amendment to Amended and Restated Business Assistance ( "First Amendment ") is made this __ 1 day of , 2015, between the CITY OF LOUISVILLE, a Colorado home rule municipal co oration (the "City "), and CABLE TELEVISION LABORATORIES, INC. ( "Company "), a Delaware nonprofit non -stock membership Corporation registered to do business in the State of Colorado. WHEREAS, an Amended and Restated Business Assistance Agreement was entered into between the parties on October 30, 2015 (the "Agreement ") as approved by Louisville City Council Resolution No. 56, Series 2013; and WHEREAS, the parties desire to make changes to the Agreement regarding payment of the consumer use tax rebate as described in Sections 3 and 4 of the Agreement. NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and Company hereby amend the Agreement as follows: 1. Section 3 is hereby revised to read in full as follows (new language is underlined): 3. Use Tax Rebate — Tangible Goods . For the 2014 calendar year and the 2015 calendar year through June 30, 2015, and solely for the Company's continuation in Louisville at the Project location, the. City shall rebate to Company 50% of the Use Tax (and in certain circumstances as described below, Sales Tax) paid and collected on tangible goods purchased by the Company for the Company's use at the Project location, as required under Louisville Municipal Code, section 3.20.300, excluding all tax revenues from the open space tax and historic preservation tax. In certain circumstances, Sales Tax may be included in this rebate, when the purchases were from companies with nexus with the City, therefore allowing those companies to remit sales tax to the City. Absent such nexus, Company would have remitted use tax to the City. No rebate shall be issued for goods purchased prior to the date of this Agreement. Only those tangible goods purchased for use at the Project location shall qualify for rebate consideration. Tangible goods include, by way of example, computers, furniture, fixtures, appliances, electronics, and do not include, by way of example, food, office supplies or other consumable goods not expected to last for three or more years. Company_ and City agree that Company made qualifying purchases through two lease agreements with U.S. Bank Equipment Finance, dated September 10, 2014 and March 27; 2015. Pursuant to such lease agreements, _U.S. Bank. Equipment Finance will be collecting sales tax upon the lease payments over a five -year payment schedule and will remit such sales taxes to the City. The City shall rebate to Company 50% of the sales tax paid by Company and