Resolution 2021-16 - Laserfiche WebLink

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from execution of this Agreement and ending Deeember 34-, 2019 March 31. 2021. Section 2. Section 2 of the Agreement is hereby revised to read as follows (words to be deleted sere; 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 building 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 DeGernber 31 2019 March 31, 2021. Section 3. Section 3 of the Agreement is hereby revised to read as follows (words to be deleted s ken; words to be added underlined): 3. 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 ornie hundred fifty thousand doll orc two hundred and fifty-four thousand dollars ($150,000) 254 000 . The building permit fee and construction use tax rebates shall be paid by the City within 120 days following issuance of the certificate of occupancy or final inspection for the Project work, as determined by the City, subject to Sections 4 and 5 below. Section 3. Section 8 of the Agreement is hereby revised to read as follows (words to be deleted s#FiGkeR; words to be added underlined): 8. Termination. This Agreement shall terminate and become void and of no force or effect upon the City if, by newer 31, 2019, March 31, 2021, Company has not completed the Project as described in Company's application for business assistance (as evidenced by a successful final inspection for the Project); or should fail to comply with any City code. Section 4. Except as amended by this First Amendment, the Business Assistance Agreement with The Allen Company, Inc. shall remain in full force and effect in accordance with its terms. 2021. This First Amendment is enacted this 16th day of March Page 2 of 3