Resolution 2013-11 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR BENJAMIN WEST, LLLP AND AVADAN, LLC IN THE CITY OF LOUISVILLE THIS AGREEMENT("Agreement") is made and entered into as of the • -----day of ,4261-1 , 2013, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and BENJAMIN WEST, LLLP, a Colorado Limited Liability Limited Partnership ("BW") and AvaDan, LLC, a Colorado Limited Liability Company ("AvaDan") (collectively AvaDan and BW are sometimes referred to herein as the "Company"). WHEREAS, the City wishes to provide certain assistance to AvaDan in connection with AvaDan's construction of a new approximately 40,000 square foot facility at 428 CTC Boulevard in Louisville (the "Project"); and WHEREAS, AvaDan plans to complete construction of the new facility by 2014; and WHEREAS, BW, through its and its affiliates' operations will lease space in the AvaDan facility to operate BW's business and thereby the Company will bring to the City new primary jobs paying more than the average wage in Boulder County; 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 Company agree as follows: 1. Building Permit Fee Rebates. The City shall rebate to AvaDan 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 AvaDan 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 and historic preservation tax. 3. Payment of Rebates. The building permit fee and use tax rebates shall be paid by the City within 60 days following issuance of the certificate of occupancy for the Project, subject to paragraphs 4 and 5 below. City payment shall be by check made • payable solely to AvaDan, LLC and mailed to 3000 Pearl Street, Suite 200, Boulder, CO 80301, and the City will not make payment to any other person or entity. No interest shall be paid on any amounts subject to rebate. 4. Use of Funds. Funds rebated pursuant to this Agreement shall be used solely for obligations, improvements and/or purposes permitted under Louisville Municipal Code section 3.24.060, which may include tenant improvements for occupancy of vacant 1