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WHEREAS, the Plan provides for financing the activities and undertakings of the LRC by <br />means of property tax allocation or tax increment financing ("Property Tax TIF") in accordance <br />with Section 31-25-107(9) of the Act; and <br />WHEREAS, the LRC's annual budget for the Program will be limited to certain Property <br />Tax TIF revenue available to the LRC after payment of (i) LRC operating, administrative, <br />consulting, and other costs ("Operating Expenses"), and (ii) any prior financial obligations of the <br />LRC, including but not limited to any (a) existing bonded indebtedness, and (b) amounts required <br />to be paid out of the LRC's special fund under existing agreements to which the LRC is a parry <br />("Prior Financial Obligations"); and <br />WHEREAS, the Act and Section 18, Article XIV of the Colorado Constitution authorize <br />the City and the LRC to enter into cooperation agreements, and there has been prepared a <br />Cooperation Agreement to set forth the Parties' agreement as to Program funding, administration, <br />support services, review processes, costs and expenses, reporting duties, and other related items. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF LOUISVILLE, COLORADO: <br />Section 1. The proposed Cooperation Agreement between the City of Louisville and the <br />Louisville Revitalization Commission (the "Agreement"), regarding the LRC's Fagade Improvement <br />Program (the "Program"), a copy of which is attached hereto and incorporated herein by this <br />reference, is hereby approved. <br />Section 2. The Mayor is authorized to execute the Agreement on behalf of the City, and <br />the Mayor is hereby further authorized to negotiate and approve such revisions to said Agreement as <br />the Mayor determines are necessary or desirable for the protection of the City, so long as the essential <br />terms and conditions of the Agreement are not altered. <br />Section 3. The Mayor, City Manager and City Staff are authorized to do all things <br />necessary on behalf of the City to perform the obligations of the City under the Agreement, and are <br />further authorized to execute and deliver any and all documents necessary to accomplish the terms, <br />conditions and provisions of the Agreement. <br />PASSED AND ADOPTED this 4t' day of January, 2022. <br />ATTEST: <br />®F. LOUjS,L <br />Meredyth Muth, City ClerkSEAL <br />; <br />0 ' " At6�1v�� <br />shley S lann, May r <br />Resolution No. 1, Series 2022 <br />Page 2 of 2 <br />