Revitalization Commission Resolution 2022-01

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improved facade aesthetics, with the goal of attracting customers to Downtown Louisville, all in furtherance of the purposes of the Act and 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's annual budget for the Program will 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"); and WHEREAS, the Act and Section IS, Article XIV of the Colorado Constitution authorize the City and the LRC to enter into cooperation agreements, and there has been prepared a Cooperation Agreement to set forth the Parties' agreement as to Program funding, administration, support services, review processes, costs and expenses, reporting duties, and other related items; and WHEREAS, there has also been prepared a form of Facade Improvement Grant Agreement ("Grant Agreement") for entrance into by the LRC and persons or entities awarded grants under the Program; and WHEREAS, the LRC desires to approve the Cooperation Agreement and the form of Grant Agreement by this resolution. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. The proposed Cooperation Agreement (the "Agreement") between the City of Louisville and the Louisville Revitalization Commission (the "LRC"), regarding the LRC's Facade Improvement Program (the "Program"), a copy of which is attached hereto and incorporated herein by this reference, is hereby approved. Section 2. The Chair is authorized to execute the Agreement on behalf of the LRC, and the Chair is hereby further authorized to negotiate and approve such revisions to said Agreement as the Chair determines are necessary or desirable for the protection of the LRC, so long as the essential terms and conditions of the Agreement are not altered. Section 3. The proposed form of Facade Improvement Grant Agreement ("Grant Agreement") is hereby approved in the form that accompanies this resolution. Section 5. The City Manager, or the City Manager's designee, is hereby authorized to 2