City Council Agenda and Packet 2020 04 17 SP

Home Browse Search

DRAFT for LRC and City Council Review COOPERATION AGREEMENT Emergency Solutions Grant Program Funding This Agreement is made as of , 2020, by and between the CITY OF LOUISVILLE, COLOR -ADO (the "City") and the LOUISVILLE REVITALIZATION COMMISSION (the "LRC"). The City and the LRC are sometimes referred to herein individually as a Party and collectively as the Parties. RECITALS A. The City is a home -rule city and municipal corporation duly organized and existing under and pursuant to Article XX of the Colorado Constitution and Charter of the City (the "Charter"). B. 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"). C. The Act and Section 18, Article XIV of the Colorado Constitution authorize the Parties to enter into cooperation agreements, and the Parties desire to enter into this Cooperation Agreement respecting financial assistance for the City's Emergency Solutions Grant Program (the "Program"). D. The Program authorizes grants to small businesses who have been impacted by the COVID-19 Pandemic, many of which are located within the Highway 42 Revitalization Area (the "Plan Area") described in the Highway 42 Revitalization Area Urban Renewal Plan (the "Plan"). The Program will assist business owners within the Plan Area address the devastating financial impacts of COVID-19, including business closures and social distancing requirements, will encourage continued presence of businesses consistent with the Plan vision, and will prevent the spread of blight within the Plan Area by a proliferation of abandoned storefronts, all in furtherance of the purposes of the Act and Plan. E. The Plan provides for financing the activities and undertakings of the LRC by means of property tax allocation or tax increment financing ("Property Tax TIF") in accordance with Section 31-25-107(9) of the Act. F. The City and the Commission previously entered into an Amended and Restated Cooperation Agreement dated April 5, 2011 (the "2011 Cooperation Agreement") which provides that the Commission shall repay to the City certain City Costs and Expenses incurred by the City for the provision of Operating Funds and Support Services for the Commission, as further defined and set forth in the 2011 Cooperation Agreement.