Resolution 2021-02 - Laserfiche WebLink

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Section 2. Section 2 of the Agreement is hereby revised to read as follows (words to be deleted semen; words to be added underlined): 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 Marche 31, 2022 August 31, 2022. Section 3. Section 3 of the Agreement is hereby revised to read as follows (words to be deleted men; words to be added underlined): Use Tax Rebate — Tangible Goods. For tangible good purchases related to equipment and build -out of the equipment for food processing and manufacturing that are made by Company between jaRuaFy 1 March 1, 2021 and OeGember 31, 2022 March 31, 2023 and to the extent that such purchases are for the Company's expansion of operations and used in Louisville, the City shall rebate to Company 40% of the Use Tax paid and collected on tangible goods purchased as required under Louisville Municipal Code, section 3.20.300, excluding all tax revenues from the Open Space Tax, Historic Preservation Tax, and Recreation Center Tax. No rebate shall be issued for goods purchased prior to January 1, 2021. Only those tangible goods purchased by Company for Company's expansion of operations and use at the food manufacturing facility at the Company location in the City of Louisville shall qualify for rebate consideration. Section 4. Section 4 of the Agreement is hereby revised to read as follows (words to be deleted sere; words to be added underlined): 4. Payment of Rebates; Cap; Inspection. The maximum amount of the rebates payable pursuant to Sections 1 and 2 above shall in no event exceed the calculation of 50% of the fees or taxes described in Sections 1 and 2 paid to the City and a not to exceed cap of few thousand dollars sixty-seven thousand dollars ($67,000). The maximum amount of the rebates payable pursuant to Section 3 above shall in no event exceed the calculation of 40% of the taxes described in Section 3 above; provided, further that the total maximum amount of rebates payable pursuant to Section 3 shall in no event exceed e hundred and eighty_ene the ,sa,,, dellars two hundred and forty thousand dollars ($240,000). Use Tax rebates pursuant to Section 3 shall terminate when the Company has received from the City the last rebate payment under this Page 2 of 3