Resolution 2021-29 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR MEDSPA SERVICES OF COLORADO LLC IN THE CITY OF LOUISVILLE 20th THIS AGREEMENT ("Agreement") is made and entered into as of the 4C day of April , 2021, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and MEDSPA SERVICES OF COLORADO LLC (the "Company"), a Colorado limited liability company. WHEREAS, the City wishes to provide certain business assistance in connection with the Company's desire to open a second location occupying 3,300 square feet in Downtown Louisville at 957 Main Street (the "Project Location"); and WHEREAS, the Company will create new employment opportunities and draw new customers to Downtown Louisville, as well as generate new Consumer Use Tax and Sales Tax revenues to the City; 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 February 28, 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 February 28, 2022. 3. Use Tax Rebate — Tangible Goods. The City shall rebate to the Company 40% of the Use Tax paid and collected on tangible good purchases that are made by the Company related to its operations in Louisville, 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 first five (5) years of its operation. The five-year rebate period shall commence with the Company's initial use tax return, one month after start date ("the Commencement Date") and run continuously from the Commencement Date. Page 1 of 6