Resolution 2020-64 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR THE COPLEX LLC IN THE CITY OF LOUISVILLE +THIS AGREEMENT ("Agreement") is made and entered into as of the day of 12� ygvs t- 2020, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and THE COPLEX LLC, a Colorado Limited Liability Company (the "Company"). WHEREAS, the City wishes to provide certain business assistance in connection with the Company's new construction of a sports complex (the "Project"), for which Louisville, Colorado is being considered (the "Project Location"); and WHEREAS, the Company is considering a 23,000 square foot build -to -suit development to house a sports club and recreational activities; and WHEREAS, the Company expects to employ between five (5) and 15 full- time employees and several additional part-time employees within the first five (5) years of operation; and WHEREAS, the Company's plans would bring new high quality development to the Colorado Technology Center and draw new customers and visitors to that area; and WHEREAS, the Company expects to make a location decision in the near future and to complete a building in late summer 2021; and WHEREAS, the City Council finds the execution of this Agreement will serve to provide benefit and advance the public interest and welfare of the City and its citizens by securing this economic development project within the City. NOW THEREFORE, in consideration of the mutual promises set forth below, the City and Company agree as follows: 1. Building Permit Fee Rebates. The City shall rebate to the Company 50% of the building related permit fees for the Project, required under Louisville Municipal Code, section 15.04.050 and section 108.2 of the International Building Code as adopted by the City, for the period from execution of this Agreement and ending January 31, 2022. 2. Use Tax Rebate -Construction. The City shall rebate to the Company 50% of the Construction Use Tax on the construction materials for the Project, required under Louisville Municipal Code, section 3.20.300, excluding all revenues from the Open Space Tax, Historic Preservation Tax, and Recreation Center Tax for the Project, for the period from execution of this Agreement and ending January 31, 2022. Page 1 of 6