Resolution 2020-19 - Laserfiche WebLink

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'BUSINESS: ASSISTANCE AGREEMENT FOR . CORVUS NIDUS, 4"P (THE ROSE AND RAVEN). IN THE: CITY OF L WISWXX t�' :.. THIS AGF�EEMEN�� :: ("'Agreement,") is ,made ;and -entered mto as of .the _ .day of 2020, between: the CITY QF -- i.OUISVILLE, a Colorado home rule municipal corporation (the "City") :and CORVUS :NIDUS, LW, a Colorado Iimlted liability company, :doing business as. "The Rose. and- Rayonthe. ``Company") ; WHEREAS, the; City wishes to .provide certain business assistance In connection with the Company's redevelopment of an exis#ing vacant ouilding into a sales tax,generating* business (the "Praject"):.at.511 East;Souft. Boulder Road, Louisville 4the "Project Location"); and WHEREAS, the Company, plans to either renovate and add to the existing building W ich •has been "vacant since 2015, or construct;a- new building V create a eidery, restaurant, and food. truck; park; and: WHEREAS, the'Company plans to completethe project in 2021; which will bring new jobs and new revenues to Louisville; and WHEREAS, City Cauncdl finds ;the execution 'of this Agreement null ;serve to provide:Wnefit and -advance the public interest and welfiare of the City ;and its citizens by securing this economic development project within the City.,, NOW "THEREFORE, ';in consideration of the mutual .promises set for k below, the City and Cormpanyagree as follows% i, Building .Permits Fee Rebates The City shall rebate to the Company 50% of #lie building 'permit' fees 'for the Project, required 'under Louisville Mun ,opal Code; section, ! 5 04.05o and ;suction i 2 cif the international Building Code as adopted by:.the, City: 2. Use Tax ,Rebate -Construction: the City shall rebate to the 'Cam, pany,5A% of the construction use tax on 'the building materials for the Project, required under Louisville ;Municipal; Cade; section 320 3011; excluding the: Cit. open space tax; historic preservation tax; and recreation center tax:, 3. Paxrnerit of Rebates: Cap: Inspection. The MaxIimum ;amount of- the. rebates payable pursuant to Sections 1 and 2 above shall in na .event exceed the calcuiaition of 50%0 .of the •fees or taxes described in Sections 9 and `2 paid to the .City, ohd =a not-.to-exdeed cep of $80,QUD. The building permit fee and donstruction 10x, rebates shall be. paid :by tie City. within '1-i days fpilowing .issuance of .the certificate of occupancy or final- inspection. #or'the Project work, as deterrriiried .by. the City, subject to:Sectiions 7 and: $ below.: Page 1 of 5 •