Resolution 2012-48 - Laserfiche WebLink

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the removal shall be recorded against both resultant lots. At the completion of the plat process, Owner may convey Lot B to an entity affiliated with Owner. Owner agrees the platted lots shall be completed pursuant to title 16 of the LMC. City and its departments shall cooperate in all respects with the subdivision /plat as stated in this Section 6. In consideration of the Owner's granting of the conservation easement provided for in this Agreement, the City shall waive any requirement of Owner to dedicate land or make payment in -lieu of dedication under the City's open space dedication requirements related to the platting of the Property in the City of Louisville. The City acknowledges that Owner, in its discretion, may elect to include in the subdivision /plat all or a portion of the property located immediately to the south of the Property (with the consent of such property owner) in order to facilitate the possible property "trade" with the south property owner that may be necessary to cure current encroachments from the Property onto the property to the south. Further, the City acknowledges that a small portion of the Structure encroaches onto the railroad easement to the immediate east of the Property that would not be cured by any platting. 7. BUILDING PERMIT FEE REBATES: The City shall rebate to Owner 50% of the building related permit and permit application fees related to improvements to Lot A and Lot B, required under LMC Section 15.04.050 and Section 108.2 of the International Building Code as adopted by the City. This provision shall expire with respect to Lot A and Lot B after the initial date of occupancy by the initial tenant occupying the respective building on such Lot. Rebate requests shall be promptly processed after issuance of the permit. 8. USE -TAX REBATE — CONSTRUCTION: The City shall rebate to Owner 50% of the Construction Use Tax on the building materials used for improvements to Lot A and Lot B, required under Louisville Municipal Code, section 3.20.300, excluding all revenues from the open space tax and historic preservation tax. This provision shall expire with respect to Lot A and Lot B after the initial date of occupancy by the initial tenant occupying the respective building on such Lot. Rebate requests shall be promptly processed after issuance of the permit. 9. ASSISTANCE IN ACQUIRING OTHER GRANT FUNDS: The City and Owner agree to use reasonable efforts to partner or otherwise cooperate in accessing grant funds from other state and federal programs. The City will provide adequate staff time and resources to access these other funding opportunities. 10. EVENTS REQUIRING ADDITIONAL CITY ASSISTANCE OR BUY -OUT: Owner may notify City in the event that any of the following triggering events occur and in such case the City shall provide additional funding or promptly purchase the Property from Owner at a price equal to all non - reimbursed and documented actual expenses incurred by Owner for the Work up to the triggering event, not including overhead. If the Property has been subdivided according to Section 6 of this Agreement and Lot B is transferred to another entity, the appraised value of Lot B 6