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Resolution 2016-50
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Resolution 2016-50
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Last modified
3/21/2023 10:37:41 AM
Creation date
10/20/2016 8:21:33 AM
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City Council Records
Also Known As (aka)
BAP Eleanor LLC
Doc Type
Resolution
Signed Date
10/18/2016
Ord/Res - Year
2016
Ord/Res - Number
50
Original Hardcopy Storage
7D6
Record Series Code
45.160
Record Series Name
Resolutions
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RES 2016-50
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Historic Preservation Tax). Any decrease in the City general sales, <br />construction use, or consumer use tax rates shall cause the amount of the <br />rebate payments made pursuant to this Agreement to be based on the <br />applicable percentage of revenues actually received by the City from <br />application of the tax rate affected. (excluding said Open Space and <br />Historic Preservation Taxes). <br />9. Entire Agreement. This instrument shall constitute the entire agreement <br />between the City and Company and supersedes any prior agreements <br />between the parties and their agents or representatives, all of which are <br />merged into and revoked by this Agreement with respect to its subject <br />matter. Contact information is as follows: <br />If to Company: <br />Eleanor, LLC <br />Attn: Tracy Hobbs <br />2157 Wagon Way <br />Louisville, CO 800027 <br />Eleanorhobbs11@gmail.com <br />If to City: <br />Louisville City Hall <br />Attn: Economic Development <br />749 Main Street <br />Louisville, CO 80027 <br />303.335.4531 <br />aarond © louisvilleco.gov <br />10. Termination. This Agreement shall terminate and become void and of no <br />force or effect upon the City if, by June 30, 2017, Company has not <br />completed the Project (as evidenced by the issuance of a certificate of <br />occupancy for the tenant improvements of the Project); or should fail to <br />comply with any City code. <br />11. Business Termination. In the event that, within five (5) years of the <br />completion of the Project at the Project Location (as determined by the <br />date of issuance of the certificate of occupancy or final inspection for the <br />Project), the Company ceases operations at the Project Location, <br />Company shall pay to the City a portion of the total amount of fees and <br />taxes which were due and payable to the City but were rebated by the City <br />to Company, as well as reimburse the City for any funds provided to <br />Company pursuant to this Agreement. For each full month the Company <br />and/or its successors and assigns, cease operations at the Project <br />Location, the City shall receive back 1.67% of the foregoing amounts. <br />12.Subordination. The City's obligations pursuant to this Agreement are <br />subordinate to the City's obligations for the repayment of any current or <br />Page 3 of 6 <br />
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