Resolution 2011-11 - Laserfiche WebLink

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BUSINESS .ASSISTANCE AGREEMENT FOR NATIONAL ENTERTAINMENT NETWORK IN THE CITY OF LOUISVILLE THIS AGREEMENT "Agreement is made and entered into as of the 15th day of February, 2011, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City and NATIONAL ENTERTAINMENT NETWORK, INC., a Delaware C Corporation. WHEREAS, the City wishes to provide certain assistance to National Entertainment Network in connection with the company's tenant finish of approximately 27,000 square feet of existing vacant space at 331 S. 104 Street in Louisville (the project); and WHEREAS, National Entertainment Network plans to occupy the new facility during 2011; and WHEREAS, National Entertainment Network currently occupies space within the Colorado Technology Center and, with this move, would retain primary jobs within 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 THEREFORE, in consideration of the mutual promises set forth below, the City and National Entertainment Network agree as follows: 1. Building Permit Fee Rebates. The City shall rebate to National Entertainment Network 50% of the building related permit fees for the project, required under Louisville Municipal Code, section 15.04.050 and section 108.2 of the International Building Code as adopted by the City. 2. Use Tax Rebate Construction. The City shall rebate to National Entertainment Network 50% of the Construction Use Tax on the building materials for the project, required under Louisville Municipal Code, section 3.20.300, excluding all revenues from the open space tax. 3. Payment of Rebates Cap. The maximum amount of the rebates payable pursuant to 1 and 2 above shall in no event exceed the calculation of 50% of the fees paid. The rebates shall be paid by the City within 120 days following issuance of the Certificate of Occupancy for the project, subject to 4, below. The rebates shall be paid by the City within 120 days following issuance of the Certificate of Occupancy for the project, subject to 5, below. Payment will be submitted to National Entertainment Network at 331 S. 104 Street. No interest shall be paid on amounts subject to rebate. 4. Use of Funds. Funds rebated pursuant to this Agreement shall be used by National Entertainment Network solely for obligations and/or improvements permitted under Louisville Municipal Code section 3.24.060 (as enacted by Ordinance No. 1507, 1