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TOWN OF SUPERIOR <br />RESOLUTION NO. R-5 <br />SERIES 2024 <br />A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF <br />SUPERIOR APPROVING A SECOND AMENDMENT TO THE SALES TAX <br />REVENUE SHARING INTERGOVERNMENTAL AGREEMENT WITH THE <br />CITY OF LOUISVILLE CONCERNING A TEMPORARY WAIVER OF TAX <br />REVENUES <br />WHEREAS, the City of Louisville ("Louisville") and the Town <br />are parties to a Sales Tax Revenue Sharing Intergovernmental <br />Agreement (the "IGA"), executed July 21, 1997, and effective upon <br />ratification by the voters of Louisville and Superior at the <br />jurisdictions' respective elections in November 1997; <br />WHEREAS, the IGA was amended in the First Amendment to Sales <br />Tax Revenue Sharing IGA, dated February 15, 2005 (the "First <br />Amendment"); <br />WHEREAS, this Second Amendment to the Sales Tax Revenue <br />Sharing IGA (the "Second Amendment") provides a temporary waiver <br />of tax revenues received by Louisville to provide a business <br />incentive to Bigsby's Folly Winery & Restaurant and, if successful, <br />may attract other, sales -tax -generating businesses to the South <br />Property, as defined in the IGA, thus increasing the sales tax <br />revenues shared by Louisville and the Town under the IGA; <br />WHEREAS, on January 2, 2024, the Louisville City Council <br />approved the Second Amendment; and <br />WHEREAS, the Board of Trustees finds that it is in the best <br />interest of the Town to approve the Second Amendment with <br />Louisville. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF <br />THE TOWN OF SUPERIOR, COLORADO, as follows: <br />Section 1. The Second Amendment to the Sales Tax Sharing <br />Intergovernmental Agreement between the Town and the City of <br />Louisville concerning a temporary waiver of tax revenues is hereby <br />approved in substantially the same form attached hereto, subject <br />to final approval by the Town Attorney. Upon such approval, the <br />1 <br />1/6/2024 <br />P:\SHARED\TOWNCLERK\DOCS\MEETINGS\MEETINGS 2024\1. TOWN BOARD MEETINGS\01.08.2024 - CURRENT\3I - <br />JILL - LOUISVILLE IGA BIGSBY'S FOLLEY INCENTIVE\315 -RESOLUTION - SECOND AMENDMENT TO TAX SHARING <br />IGA-R010424.DOCX <br />