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LOUISVILLE REVITALIZATION COMMISSION <br />RESOLUTION NO.20 - 03 <br />A RESOLUTION APPROVING AN AGREEMENT AMONG THE CITY OF <br />LOUISVILLE, THE LOUISVILLE REVITALIZATION COMMISSION, AND THE <br />LOUISVILLE FIRE PROTECTION DISTRICT FOR PROPERTY TAX TIF REVENUE <br />SHARING <br />WHEREAS, the City of Louisville (the "City") is a home -rule city and municipal <br />corporation duly organized and existing under and pursuant to Article XX of the Colorado <br />Constitution and Charter of the City; and <br />WHEREAS, the Louisville Revitalization Commission (the "LRC") is a public body <br />corporate and politic authorized to transact business and exercise its powers as an urban renewal <br />authority under and pursuant to the Colorado Urban Renewal Law, Part 1 of Article 25 of Title <br />31, C.R.S. (the "Act"); and <br />WHEREAS, the Louisville Fire Protection District (the "District") is a fire protection <br />district organized pursuant to Title 32 of the Colorado Revised Statutes; and <br />WHEREAS, pursuant to the Act, the City Council adopted Resolution No. 37, Series <br />2006 approving the Highway 42 Revitalization Area Urban Renewal Plan (the "Plan") to carry <br />out the urban renewal project (the "Urban Renewal Project") described in the Plan for the area <br />described therein (the "Urban Renewal Area"); and <br />WHEREAS, the Act includes and the Plan contains a provision authorizing the financing <br />of the Urban Renewal Project utilizing tax increment financing as further provided in the Plan <br />and as authorized by Section 31-25-107(9) of the Act; and <br />WHEREAS, Section 31-25-107(11) of the Act permits and authorizes the City, the LRC, <br />and the District to enter into agreements for allocation of responsibility among the parties to the <br />agreement for payment of the costs of any additional infrastructure or services necessary to offset <br />the impacts of an urban renewal project and for the sharing of revenues; and <br />WHEREAS, the LRC desires to enter into such an agreement as authorized under <br />Section 31-25-107(11); <br />WHEREAS, by Resolution No. 15 Series 2020, adopted on May 19, 2020, the City <br />Council approved the agreement between the City, the LRC, and the District. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF <br />COMMISSIONERS OF THE LOUISVILLE REVITALIZATION COMMISSION: <br />Section 1. The proposed Agreement Regarding Property Tax TIF Revenue Sharing, <br />Highway 42 Revitalization Area, among the City of Louisville, the Louisville Revitalization <br />Commission, and the Louisville Fire Protection District (the "Agreement"), a copy of which is <br />Agenda Packet P. 9 <br />