Resolution 2024-57 - Laserfiche WebLink

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FIRST AMENDMENT TO 2012 COOPERATION AGREEMENT Highway 42 Revitalization Area South Street Gateway Project Funding for Public Art This First Amendment to Highway 42 Revitalization Area South Street Gateway Project Funding for Public Art Agreement (the Frist Amendment) is made as of December 11 , 2024, by and between the CITY OF LOUISVILLE, COLORADO (the City) and the LOUISVILLE REVITALIZATION COMMISSION (the LRC). The City and the LRC are sometimes referred to herein individually as a Party and collectively as the Parties. RECITALS A. 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 (the Charter). B. 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). C. The Act and Section 18, Article XIV of the Colorado Constitution authorize the Parties to enter into cooperation agreements, and the Parties entered into that Cooperation Agreement dated November 5, 2012 respecting financial assistance to the construction of the South Street Gateway located at the crossing of South Street under the Burlington Northern Railroad right-of-way (the 2012 Cooperation Agreement). D. The improvements constructed pursuant to the 2012 Cooperation Agreement included a pedestal intended for placement of public art. E. The City, through its Louisville Cultural Council, will be undertaking a project to create and install a series of steel cut panels with inset colorful ceramic elements that complement the industrial nature of the railroad bridge and enliven the underpass constructed pursuant to the 2012 Cooperation Agreement. F. The Parties previously entered into a Cooperation Agreement dated February 10, 2021 (2021 Cooperation Agreement) respecting financial assistance for the purchase and placement of a sculpture on the pedestal (the Project), as a continuation of the project undertaken pursuant to the 2012 Cooperation Agreement. G. The Project is located within the area (the Plan Area) described in the Highway 42 Revitalization Area Urban Renewal Plan (the Plan). The Project is an extension of the LRC's prior investment in the Plan Area pursuant to the 2012 Cooperation Agreement, will further the goals of the Act and the Plan to eliminate and prevent the spread of blight within the Plan Area, and will be carried out in furtherance of the purposes of the Act and Plan.