Resolution 2021-92 - Laserfiche WebLink

Home Browse Search

the City and the LRC to enter into cooperation agreements; and WHEREAS, the City and the LRC desire to enter into a Cooperation Agreement to set forth the terms of the LRC's financial assistance to the Project; and WHEREAS, the City and the LRC intend that LRC financial assistance for the Project be limited to certain Property Tax TIF revenue available to the LRC after payment of (i) LRC operating, administrative, consulting, and other costs ("Operating Expenses"), and (ii) any prior financial obligations of the LRC, including but not limited to any (a) existing bonded indebtedness, and (b) amounts required to be paid out of the LRC's special fund under existing agreements to which the LRC is a party ("Prior Financial Obligations"). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. The proposed Cooperation Agreement between the City of Louisville and the Louisville Revitalization Commission (the "Agreement"), regarding funding for sidewalk and landscaping improvements at Front Street, a copy of which is attached hereto and incorporated herein by this reference, is hereby approved. Section 2. The Mayor is authorized to execute the Agreement on behalf of the City, and the Mayor is hereby further authorized to negotiate and approve such revisions to said Agreement as the Mayor determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the Agreement are not altered. Section 3. The Mayor, City Manager and City Staff are authorized to do all things necessary on behalf of the City to perform the obligations of the City under the Agreement, and are further authorized to execute and deliver any and all documents necessary to accomplish the terms, conditions and provisions of the Agreement. PASSED AND ADOPTED this 2 Pt day of December, 2021. ATTEST: Meredyth Muth, City Clerk cotoW*o° Ashley 10 mann, Mayor Resolution No. 92, Series 2021 Page 2 of 2