Revitalization Commission Agenda and Packet 2024 10 30

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WHEREAS, pursuant to the Colorado Urban Renewal Law, C.R.S. § 31-25-101, et seq., and the Urban Renewal Plan, the LRC may finance undertakings pursuant to the Plan by any method authorized under the Act or any other applicable law, including without limitation issuance of notes, bonds and other obligations in an amount sufficient to finance all or part of the Plan; borrowing of funds and creation of indebtedness; advancement of reimbursement agreements; agreements with public or private entities; and loans, advances and grants from any other available sources; and the Plan authorizes the LRC to pay the principal and interest on any such indebtedness from property tax increment, or any other funds, revenues, assets or properties legally available to the LRC; and WHEREAS, the Parties have agreed to enter into this Agreement for the reimbursement of the Project in accordance with the Urban Renewal Plan and the Act. NOW, THEREFORE, in consideration of the mutual covenants and promises of the Parties contained in this Agreement, and other valuable consideration, the receipt and adequacy of which are acknowledged, the Parties agree to the terms and conditions in this Agreement. AGREEMENT 1. DEFINITIONS. In this Agreement, unless a different meaning clearly appears from the context, capitalized terms mean: "Act" means the Colorado Urban Renewal Law, Part 1 of Article 25 of Title 31 of the Colorado Revised Statutes, as amended. "Agreement" means this Infrastructure Assistance Agreement, as it may be amended or supplemented in writing. References to sections or exhibits are to this Agreement unless otherwise qualified. All exhibits attached to and referenced in this Agreement are hereby incorporated into this Agreement. "LRC" means the Louisville Revitalization Commission, an urban renewal authority and a body corporate and politic of the State of Colorado which has been duly created, organized, established, and authorized by the City of Louisville to transact business and exercise its powers as an urban renewal authority, all under and pursuant to the Act, and its successors and assigns. "Certificate Relating to Reimbursement Amount" means the certification in substantially the form of Exhibit D, attached hereto relating to the satisfaction of the conditions precedent set forth in Section 3.1 relating to the payment of the Reimbursement Amount. "City" means the City of Louisville, Colorado, a home rule municipality of the State of Colorado organized and existing under a home rule charter pursuant to Article XX of the Constitution of the State of Colorado. "Commence Construction" means the commencement by Developer of actual physical work on the Property, including without limitation deconstruction, demolition, 2 10/23/2024 G: (ECONOMIC VITALITYILRCI2024 AGENDAS AND PACKETSI2024 10 301IRONTON PUBLIC INFRASTRUCTURE CONTRACT.DOCX