Resolution 2022-30 - Laserfiche WebLink

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PUBLIC INFRASTRUCTURE ASSISTANCE AGREEMENT This Public Infrastructure Assistance Agreement (this "Agreement") is made on June 21 , 2022, by and among the LOUISVILLE REVITALIZATION COMMISSION (the "LRC"), the CITY OF LOUISVILLE (the "City"), and SPLIT MOUNTAIN COMMERCIAL 4 LLC, a Colorado limited liability company (the "Developer") (The LRC, the City, and Developer are collectively the "Parties"). RECITALS A. 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"). B. 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"). C. The Developer is the owner of certain real property located at 950 Spruce Street and 725 Front Street, Louisville, CO (the "Property"). D. The Developer proposes a project to renovate the existing commercial structure at 950 Spruce Street to include both residential and commercial uses, and to add a new structure to face Front Street. The existing building at 950 Spruce Street (approximately 14,000 SF) will provide up to five (5) residential units and a maximum commercial area of 7,482 square feet. The number of dwelling units and amount of commercial space will be determined based on market demand. The new building at 725 Front Street will provide three (3) independent dwelling units. The existing parking lot on the site will remain, though it will be reduced in size and laid out so that all access to parking comes through the public alley between Main Street and Front Street (the "Project"). E. The Project received the City Council's approval, as a Planned Unit Development (PUD) and Special Review Use (SRU), on July 13, 2021. F. The Project includes infrastructure improvements in public right-of-way, including reconstruction of sidewalks, curb, and gutter; construction of an alley pan; extending downtown streetscape, including brick paver accents; installation of street trees, tree gates, and irrigation; installation of decorative street lights; cut and patch work for utilities in the street and alley; removal of non -conforming utilities; and provision of off - site electrical power (the "Project Improvements"). The Project Improvements are further described and depicted in Exhibit A, which is attached hereto and incorporated herein by this reference. G. The Project is located within the area (the "Plan Area") described in the Highway 42 Revitalization Area Urban Renewal Plan (the "Plan"). Completion of the