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City oaf <br />Im Louisville <br />COLORADO • SINCE 1878 <br />REVITALIZATION COMMISSION <br />SUBJECT: <br />RESOLUTION 02 SERIES 2015 AMENDED AND RESTATED <br />COOPERATION AGREEMENT <br />DATE: OCTOBER 12, 2015 <br />PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT <br />SUMMARY <br />The City and LRC are parties to a Cooperation Agreement which provides for City <br />Council oversight and cooperation among the parties concerning activities of the LRC. <br />The City and LRC first entered into a Cooperation Agreement in 2006. The Cooperation <br />Agreement applies to activities of the LRC generally, but was first entered into in <br />conjunction with the adoption of the Highway 42 Urban Renewal Plan and some <br />provisions are tied to provisions of that plan. Therefore, staff proposes amendments to <br />the current Cooperation Agreement, as follows: <br />1) Section 5.c and 5.d would be revised to confirm City Council approval is required <br />for any redevelopment agreement or for any sales tax TIF under any urban <br />renewal plan. The current language is tied to the Highway 42 Plan. <br />2) Section 10 would be revised to clarify that provisions of the section — regarding <br />continuing cooperation— apply to any urban renewal plan approved by City <br />Council. <br />3) Section 16 would be amended to reflect that organizational documents (LRC <br />Bylaws) have been revised; the Mayor is a member of the LRC. <br />4) Section 4.a would be revised to update the Costs and Expenses balance. <br />A new Section 4.c. adds new language to clarify the costs related to the 550 S. <br />McCaslin UR Plan. The language is as follows: <br />"Not withstanding the foregoing, the Parties agree that all Costs and Expenses related to the 550 <br />S. McCaslin Urban Renewal Plan shall be paid by the City." <br />Attached is a revised Cooperation Agreement proposed for LRC approval. The City <br />Council approved a previous version of this Agreement at their September 1, 2015 <br />meeting. The attachment shows changes to the current Cooperation Agreement in <br />redline format. This version, if approved, will need to go back to City Council for their <br />consideration. <br />LOUISVILLE REVITALIZATION COMMISSION <br />