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RESOLUTION NO. 49 SERIES 2023 A RESOLUTION APPROVING A COOPERATION AGREEMENT WITH THE LOUISVILLE REVITALIZATION COMMISSION REGARDING THE OUTDOOR SKATING RINK AT THE STEINBAUGH PAVILION WHEREAS, the City of Louisville (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; and WHEREAS, the Louisville Revitalization Commission (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 City is party to that certain Equipment Purchase, Equipment Rental, and Management Agreement, dated July 6, 2023 (the "Management Agreement"), with Loners LLC, dba Rocky Rinks (the "Contractor"), pertaining to the operation of the City's annual wintertime temporary outdoor ice skating rink located at the Steinbaugh Pavilion ("Ice Rink"), for the 2023-2024 Season, subject to renewal by the City for the 2024-2025 Season (the "Program"); and WHEREAS, under the Management Agreement, the City has or will purchase from the Contractor and rent certain equipment necessary for the successful operation of the Ice Rink (the "Equipment"), and pay the Contractor a fee to manage the Ice Rink, for a total cost of $405,458 ("Management Contract Price") for the 2023-2024 Season, in exchange for the Contractor's remittance of all revenues collected by the Contractor derived from skater fees, including admissions and skate rentals ("Revenues"), to the City; and WHEREAS, the City entered into the Management Agreement with the expectation that the LRC would bear ultimate responsibility for the Management Contract Price in exchange for the Revenues remitted by the Contractor to the City under the Management Agreement; and WHEREAS, in addition to paying the Management Contract Price, the LRC has agreed to pay electricity costs incurred by the City relative to the Ice Rink, up to a not -to - exceed amount; and WHEREAS, the Ice Rink is located within the area (the "Plan Area") described in the LRC's the Highway 42 Revitalization Area Urban Renewal Plan (the "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 Resolution No. 49, Series 2023 Page 1 of 2