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RESOLUTION NO. 39 SERIES 2021 A RESOLUTION APPROVING A COOPERATION AGREEMENT BETWEEN THE CITY OF LOUISVILLE AND THE LOUISVILLE REVITALIZATION COMMISSION REGARDING FUNDING FOR SIDEWALK CONNECTIONS AT THE PINE AND GRIFFITH STREET RAIL CROSSINGS WHEREAS, the City is a home -rule city and municipal corporation duly organized and existing under and pursuant to Article XX of the Colorado Constitution and Charter of the City (the "Charter"); and WHEREAS, 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"); and WHEREAS, the City has applied to the Colorado Public Utilities Commission ("PUC") to install certain railroad equipment and roadway improvements to establish a railroad quiet zone within the City; and WHEREAS, as part of the City's quiet zone project, the City has received or will receive PUC approval to connect the sidewalks running parallel to the roadway to the south, so that the sidewalk will continue across the railroad tracks crossing Pine Street and Griffith Street (the "Project); and WHEREAS, the City has hired a contractor to perform concrete work in connection with the City's quiet zone project, including the Project; and WHEREAS, the Project is located within the area (the "Plan Area") described in the Highway 42 Revitalization Area Urban Renewal Plan (the "Plan"); and WHEREAS, the Plan provides for financing the activities and undertakings of the LRC by means of property tax allocation or tax increment financing ("Property Tax TIF") in accordance with Section 31-25-107(9) of the Act; and WHEREAS, the LRC finds that Project will help prevent the spread of blight within the Plan Area by providing enhanced walkability and connectivity in furtherance of the purposes of the Act and Plan, and thus desires to participate financially in the Project; and WHEREAS, the Act and Section 18, Article XIV of the Colorado Constitution authorize the Parties to enter into cooperation agreements; and WHEREAS, the Parties desire to enter into a Cooperation Agreement to set forth the terms of the LRC's financial assistance to the Project; and Resolution No. 39, Series 2021 Page 1 of 2