Resolution 2020-25 - Laserfiche WebLink

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PUBLIC INFRASTRUCTURE ASSISTANCE AGREEMENT This Public Infrastructure Assistance Agreement (this "Agreement") is made on 2020, by and among the LOUISVILLE REVITALIZATION COMMISSION (the "LRC"), the CITY OF LOUISVILLE (the "City"), and 824 SOUTH, INC., a Colorado corporation (the "Developer") (The LRC, the City, and Developer are collectively the "Parties"). RFC'.ITAI A. The LRC is a public body corporate and politic authorized to transact business and exercise its powers as an urban renewal authority under and pursuant to the Colorado Urban Renewal Law, Part 1 of Article 25 of Title 31, C.R.S. (the "Act"). B. The Developer is the owner of certain real property located at 957 Main Street and 824 South Street, Louisville, CO, which is legally described as Lot 1, Block 5, Town of Louisville, County of Boulder, State of Colorado. C. The Developer proposes a commercial development consistent with the 824 South Street/957 Main Street Planned Unit Development Amendment (Reception No. 03746760) and Special Review Use Amendment (Reception No. 03746762). The project includes conversion of the existing residential structure to a commercial use and construction of an adjoining new structure for commercial use. The development could include a mix of commercial uses, such as restaurants, cafes, hotel, and office space. The project proposes 10,847 square feet of rentable space, inclusive of the 2,137 square foot residential structure being converted for commercial and/or hotel use; angled parking is planned for South Street adjacent to the Property (the "Project"). D. The Project includes associated public and private infrastructure improvements, including but not limited to sidewalks, curb and gutter, alley pan, brick paving accents, street trees in tree grates, and decorative street lights; extension of adequate utilities to the site including water, sanitary sewer and storm sewer, including removal of existing non -conforming utilities and cutting and patching street and alley; and work to provide adequate power and gas from offsite (the "Project Improvements"). The Project Improvements are further described and depicted in Exhibit A, which is attached hereto and incorporated herein by this reference. E. The Project is located within the area (the "Plan Area") described in the Highway 42 Revitalization Area Urban Renewal Plan (the "Plan"). Completion of the Project and Project Improvements will remove barriers to development and remediate adverse conditions within the Plan Area, and will be carried out in furtherance of the purposes of the Act and Plan. F. The LRC finds that entering into this Agreement will promote the redevelopment of an area within the Plan Area and LRC boundaries and will remediate adverse conditions within the Plan Area in a manner consistent with the Plan, and will