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RESOLUTION NO. 31 SERIES 2023 A RESOLUTION APPROVING AN AMENDED AND RESTATED COOPERATION AGREEMENT BETWEEN THE CITY OF LOUISVILLE AND THE LOUISVILLE REVITALIZATION COMMISSION 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 Act and Section 18, Article XIV of the Colorado Constitution authorize the City and the LRC to enter into cooperation agreements, and the Act specifically authorizes the City and the LRC to enter into agreements respecting action to be taken pursuant to any of the powers set forth in the Act; and WHEREAS, in 2006, the City and the LRC entered into a Cooperation Agreement respecting operating funds, support services, general oversight of the LRC to be provided by the City to the LRC, and related matters, which such Agreement was approved by Resolution No. 49, Series 2006; and WHEREAS, on April 5, 2011, the City and the LRC entered into an Amended and Restated Cooperation Agreement respecting the same matters, which superseded the 2006 agreement; and WHEREAS, on November 17, 2015, the City and the LRC entered into an Amended and Restated Cooperation Agreement to address the adoption of the 550 S. McCaslin Urban Renewal Plan, which superseded the 2011 agreement; and WHEREAS, the LRC has proposed a (third) Amended and Restated Cooperation Agreement to (i) set forth a formal process to enable the LRC to obtain City Council approval of "LRC Programs," and (ii) authorize the LRC to enter into contracts and provide funding under such Council -approved LRC Programs without further Council approval; and WHEREAS, "LRC Program" is defined in the agreement as, a comprehensive initiative, in furtherance of the purposes of the Act and the Highway 42 Revitalization Area Urban Renewal Plan, aimed at addressing one or more characteristics of blight within the Highway 42 Revitalization Area on a large scale (e.g., downtown business fapade improvement), which is not specific to any particular piece of property or development, Resolution No. 31, Series 2023 Page 1 of 2