Resolution 2009-41 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR GLACIER HOMEMADE ICE CREAM & GELATO IN THE CITY OF LOUISVILLE THIS AGREEMENT ("Agreement") is made and entered into as of the 15th day of December, 200B, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and Glacier Homemade Ice Cream & Gelato, a Colorado limited liability company. WHEREAS, the City wishes to provide certain business assistance in connection with leasing of approximately 1,100 square feet to a ice cream retailer in Louisville Plaza, 1387 South Boulder Road, Louisville (the project); and WHEREAS, John Stetson plans to remodel the interior finish of 1387 South Boulder Road by 2lnd quarter 2010; and WHEREAS, Glacier Homemade Ice Cream & Gelato plans for the project to generate new sales tax revenue by the attraction, opening and operation of an ice cream and gelato shop in the City; and WHEREAS, City Council finds the execution of this Agreement will serve to provide benefit and advance the public interest and welfare of the City and its citizens by securing the location of this economic development project within the City. NOW THEREFOHE, in consideration of the mutual promises set forth below, the City and Glacier Homemade Ice Cream & Gelato agree as follows: 1. Sales Tax Rebates. The City shall rebate to Glacier Homemade Ice Cream & Gelato 40% of the incremental sales tax revenues derived from the imposition of the City's 3.0%, general sales tax (excluding the City's three-eights percent (%%) Open Space Tax and the one-eighth percent (1/8%) Historic Preservation Tax) that are actually collected by the City and attributable to new retail sales attributable solely to the project and occurring at the project location of 1387 South Boulder Road and generated by an ice cream shop for the first two years of its operation. The tvvo-year rebate period shall commence upon and run continuously from the date of issuance of the certificate of occupancy for Glacier Homemade Ice Cream & Gelato. Rebates shall not exceed $7,500 or two years of operation, whichever comE~S first. 2. Payment of Rebates. The sales tax rebates shall be paid by the City in annual installments and shall be made on or before January 31 st. No interest shall be paid on amounts subject to rebate.