Resolution 2012-46 - Laserfiche WebLink

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sales tax (excluding the City's three - eighths percent (3/8 %) Open Space Tax and the one - eighth percent (1/8 %) Historic Preservation Tax) that is actually collected by the City and attributable to new retail sales attributable solely to the Retail Building for five (5) years of operation. The rebate period shall commence 24 months after the issuance of the certificate of occupancy for the Retail Building or January 1, 2016, whichever is sooner, and shall not exceed five years (60 months) thereafter, irrespective of the amount rebated in such period. The maximum five -year rebate period shall run continuously from the date—of— "' — commencement irrespective of the number of, or amount of space occupied by, retail sales tax generating uses in the Retail Building. Base year sales tax revenue generated from tenants that are existing Louisville retailers are ineligible for rebate. Base year sales tax will be determined by the Tenant's previous twelve (12) month average of sales tax collected by the City from the Tenant, prior to opening business in the Retail Building. Sales tax collections above the base year will be eligible for rebate. 7. Payment of Sales Tax Rebates. Except as provided in Section 5, all sales and use tax rebates made pursuant to this Agreement shall be paid by the City in annual installments and shall be made in arrears on or before January 31st for the prior year. No interest shall be paid on amounts subject to rebate. 8. Use of Funds. Funds rebated pursuant to this Agreement shall be used by the party receiving the funds solely for obligations and /or improvements permitted under Louisville Municipal Code section 3.24.060 (as enacted by Ordinance No. 1507, Series 2007), which may include, without limitation, tenant improvements for occupancy of vacant space or the expansion or creation of jobs within the City. 9. Entire Agreement. This instrument shall constitute the entire agreement among all parties and supersedes any prior agreements between the parties and their agents or representatives, all of which are merged into and revoked by this Agreement with respect to its subject matter. Contact information is as follows: If to Developer: Takoda Properties, Inc. 950 Spruce St., Second Floor Louisville, CO 80027 Phone: 720.524.3620 Email: Justin @rmcsland.com If to Landlord: Creative Enterprises LLC Attn: Lori Jones 269 McKinley Park Lane Louisville, CO 80027 Phone: 720.879.2290 Email: If to Company: Page 3 of 6