Resolution 2020-18 - Laserfiche WebLink

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BUSINESS ASSISTANCE AGREEMENT FOR FORGE NANO, INC. IN THE CITY OF LOUISVILLE PHIS AGREEMENT ("Agreement") is made and entered into as of the day of _ 4--, 2020, between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and FORGE NANO, INC. (the "Company"), a Delaware corporation. WHEREAS, the City wishes to provide certain business assistance in connection with the Company's recent merger and planned expansion (the "Project") at 1172 West Century Drive in Centennial Valley, Louisville, Colorado (the "Project Location"); and WHEREAS, the Company intends to occupy an additional 19,000 square feet in a currently vacant suite next to their existing 11,500 square feet suite in Centennial Valley; and i WHEREAS, the Company expects to add at least 10 new full-time positions in the first year and hopes Ito grow from 30 to 70 employees over the next five years; and WHEREAS, the Company will not only be making tenant improvements to expand into new office space but plans to make significant capital and equipment purchases that will be subject to the City's Use Tax; and WHEREAS, the Company plans to complete the Project in 2020; 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 the 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 period from execution of this Agreement and ending September 30, 2020. 2. Use Tax Rebate -Construction. The City shall rebate to the Company 50% of the Construction Use Tax on the construction 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 September 30, 2020. Page 1 of 6