Resolution 2019-10 - Laserfiche WebLink

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G. The LRC previously entered into that certain Amended and Restated Cooperation Agreement dated November 17, 2015 (the "2015 Cooperation Agreement"), which provides that the LRC shall repay to the City Costs and Expenses incurred by the City for the provision of Operating Funds and Support Services for the LRC, as further defined and set forth in the 2015 Cooperation Agreement. H. The LRC also previously entered into that certain Tri-Party Agreement with the County of Boulder dated December 5, 2006 (the "Tri-Party Agreement") which provides that commencing on January 1, 2015, there shall be paid to the County certain County TIF Revenues, as further defined and set forth in the Tri-Party Agreement. I. The LRC also previously issued Property Tax Increment Revenue Bonds (DELO Project), Series 2014 on October 23, 2014, in the principal amount of $4,500,000 (the "2014 Bonds") and pledged the Property Tax TIF from the Core Project Area (as defined in the 2014 Bond Resolution authorizing the 2014 Bonds) to the payment of the 2014 Bonds on a basis that was subordinate to the payments required under the Tri-Party Agreement and the 2015 Cooperation Agreement. J. The LRC intends that LRC financing assistance for the construction of the Project Improvements be limited to certain incremental Property Tax TIF revenue received by the LRC from the Property (and no other properties in the Plan Area) and available to the LRC after payment of any amounts required to be paid pursuant to the 2015 Cooperation Agreement, the Tri-Party Agreement, and amounts the LRC may reasonably require for ongoing operating, administrative, consulting and other costs (the "LRC Operating Expenses"), and subordinate to the 2014 Bonds, all in accordance with the terms and conditions set forth herein. K. The LRC is authorized to enter into this Rebate Agreement pursuant to the Act, including without limitation C.R.S. Section 31-25-105(1)(b), which authorizes an urban renewal authority to enter into agreements to carry out the purposes of the Act. AGREEMENT NOW THEREFORE, in consideration of the foregoing and the following terms and conditions, the Parties agree as follows: 1. Construction of Proiect. In conjunction with the development of the Project, Developer will finance, design and construct the Project and Project Improvements with its own funds. 2