Resolution 2019-57 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR FRESCA FOODS, INC. IN THE CITY OF LOUISVILLE THIS AGREE ENT ("Agreement") is made and entered into as of the !71.11 day of ci , 2019, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and FRESCA FOODS, INC. (the "Company"), a Colorado corporation. WHEREAS, the City wishes to provide certain business assistance in connection with tenant improvements associated with new production lines for the Company's operations (the "Project") at 1775 Cherry Street, Louisville, Colorado (the "Project Location"); and WHEREAS, the Company will be retaining jobs and employment opportunity, including those that represent job diversity in a growing industry; and WHEREAS, is renovating existing space to take on a new manufacturing project that will keep all Company facilities in the City of Louisville; and WHEREAS, the 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 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 Company 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 for the Project, for the period from execution of this Agreement and ending March 31, 2020. 2. Use Tax Rebate -Construction. The City shall rebate to Company 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, Historic Preservation Tax, and Recreation Center Tax for the Project, for the period from execution of this Agreement and ending March 31, 2020. 3. Payment of Rebates; Cap; Inspection. The maximum amount of the rebates payable pursuant to Sections 1 and 2 above shall in no event exceed the calculation of 50% of the fees or taxes described in Sections 1 and 2 paid to the City, and a not to exceed cap of twenty-five hundred dollars ($2,500). The building related permit fee and construction use tax rebates shall be paid by the City within 120 days following issuance of the certificate of Page 1 of 5