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COOPERATION AGREEMENT <br />Pine and Griffith Street Rail Crossing Sidewalk Connections <br />This Agreement (the "Cooperation Agreement") is made as of June 1, 2021, by and <br />between the CITY OF LOUISVILLE (the "City") and the LOUISVILLE REVITALIZATION <br />COMMISSION (the "LRC"). The City and the LRC are sometimes referred to herein <br />individually as a Party and collectively as the Parties. <br />RECITALS <br />A. The City is a home -rule city and municipal corporation duly organized and existing <br />under and pursuant to Article XX of the Colorado Constitution and Charter of the City (the <br />"Charter"). <br />B. The LRC is a public body corporate and politic authorized to transact business and <br />exercise its powers as an urban renewal authority under and pursuant to the Colorado Urban <br />Renewal Law, Part 1 of Article 25 of Title 31, C.R.S. (the "Act"). <br />C. The City has applied to the Colorado Public Utilities Commission ("PUC") to <br />install certain railroad equipment and roadway improvements to establish a railroad quiet zone <br />within the City. <br />D. As part of the City's quiet zone project, the City has received or will receive PUC <br />approval to connect the sidewalks running parallel to the roadway to the south, so that the sidewalk <br />will continue across the railroad tracks crossing Pine Street and Griffith Street (the "Project). <br />E. The City has hired a contractor to perform concrete work in connection with the <br />City's quiet zone project, including the Project. <br />F. The Project is located within the area (the "Plan Area") described in the Highway <br />42 Revitalization Area Urban Renewal Plan (the "Plan"). <br />G. The Plan provides for financing the activities and undertakings of the LRC by <br />means of property tax allocation or tax increment financing ("Property Tax TIF") in accordance <br />with Section 31-25-107(9) of the Act. <br />H. The LRC finds that Project will help prevent the spread of blight within the Plan <br />Area by providing enhanced walkability and connectivity in furtherance of the purposes of the Act <br />and Plan, and thus desires to participate financially in the Project. <br />L The Act and Section 18, Article XIV of the Colorado Constitution authorize the <br />Parties to enter into cooperation agreements. <br />J. The Parties desire to enter into this Cooperation Agreement to set forth the terms <br />of the LRC's financial assistance to the Project. <br />1 <br />