Resolution 2020-19 - Laserfiche WebLink

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i 4 Sales Tax Rebates. `The City shall rebate to the _Company 5% of the sales tax. revenues .deriued from the .imposition. �of the City's 3 0% general sales tax ;(excluding the City's 37b°/a open spade tax, .the 125% historic. preservation tax, fihe 4M recrEatiori center tax and any new sales faxes) that is actually collected by the City and attributable solely to ,new ,retail sates generated by operation of the 'Protect and .occurring at the; Project location, 'for: he first=f ve (5j years of it$ operation .eommencmg on the first: day of the month following the day the Company legirus retail sales ta;f tie public from the. Project Location .("the 1Gorrmencernent ;Date"): The fve, year rebate period :shall commence .upon .and run continuously from the, Cammencement.Date. 5: Pa' merit of Sales Tax Rebates Cap; The sales tax:rebates shall be paid, by the pity in annual installments and Shall be made in arrears :on or. before 'February :28'" for Elie prior year. No interest shall 'be paid on amounts subject -to rebate. Sales ;tax ;rebates; pursuant, to Section 4 ,shall terminate when the Company has received fi-om the City the Last rebate payrnerit under `this Agreement for',the five-year rebate pefiad or when the .Cc mpany has received $16.0;000 in rebate payments;, whichever :first occors, ..... 6. No Interest: Ingoddtion .anti. Disclosureof Records: No irtetest ,shall. be paid on .any amounts .subject .to rebate under. this Agreement..Each party and -its agents :shall have the right to; :inspect and audit the applicatjie records.of the other partylo verify the am of any.payment Under this Agreement, and :each party :shall cooperate and take :such actions as may be necessary to allow such inspections and. audits: Tlie Company acknowletlges that implementation of this AgreementFrequires .calculations based on the :amount of taxes collected and pall by the Company .with respect to the term. of this Agreement and issuance of ireba#e; payment checks in amounnts determined pursuant to this Agreement, and that -the amounts cif :the rebate payment checks wiU. Ise public r'nformation. The Company, ;for Uolf; its successors,, assigns, and affiliated: entities; hereby releases ;and :agrees k#a held :harmless the City anal ifs offcers and employees from: any and' all tiakaility, claims, demands, and expenses in any mahner connected with any. .dissemination of information `necessary or or generated °in: connection with the -implementation. of rebate provisions of this Agreement. 7. Use of Funds Future Fees. Fbads rebated pursuant to Sections of ,this Agreement" shall be, used by. the. Company solely for -obligati'ons and/or improve_.;ments permitted under touisvlie Municipal: -Code; section. 3 24.060 (as enacted by Ordinance No. 1507, Series 2U.07) The rebates. provided for'under this Agreement are solely for ;construction activities., 'for the initial construction: of 'the Project :and for the rebate period staled h0teM4 Ary subsequent construction ac#ivities shall be subject to; payment Page`2: of'S', c