Resolution 2021-06 - Laserfiche WebLink

Home Browse Search

PUBLIC INFRASTRUCTURE ASSISTANCE AGREEMENT This Public Infrastructure Assistance Agreement (this "Agreement") is made on rCglkAA,Z� VD , 2021, by and among the LOUISVILLE REVITALIZATION COMMISSION (the "LRC"), the CITY OF LOUISVILLE (the "City"), and CORVUS NIDUS, LLC, a Colorado limited liability company (the "Developer) (The LRC, the City, and Developer are collectively the "Parties"). RECITALS 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 511 E. South Boulder Road, Louisville, CO, which is legally described as Lot 1, Louisville North 7th Filing Replat B, City of Louisville, County of Boulder, State of Colorado. C. The Developer proposes to redevelop the Property by constructing a new two-story building of approximately 13,000 square feet, which will house a vintner's restaurant (cidery) and tavern/food hall and a large multi -purpose space with auxiliary bar and kitchen storage, and an exterior mobile food court with outdoor seating and pedestrian areas (the "Project"), to include associated public and private infrastructure improvements (the "Project Improvements"). A more detailed description of the Project Improvements is attached as Exhibit A. D. 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. E. The LRC finds that entering into this Agreement will promote the redevelopment of an area within the Plan Area and LRC boundaries, will remediate adverse conditions within the Plan Area in a manner consistent with the Plan, and will provide a mechanism for assisting in the financing of Project Improvements that benefit the City of Louisville (the "City") and its residents. F. The Plan allows the LRC to fund public infrastructure improvements necessitated by or associated with private developments by means of advance and reimbursement funding agreements in accordance with the Act. G. The LRC is authorized to enter into this Agreement pursuant to the Act, including without limitation C.R.S. Section 31-25-105(1)(b), which authorizes an urban renewal authority to enter into agreements to carry out the purposes of the Act. 21