Resolution 2022-13 - Laserfiche WebLink

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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 An,-z December 31, 2022. 4. 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 five thousand dollars ($5,000). The maximum amount of the rebates payable pursuant to Section 3 above shall in no event exceed the calculation of 50% of the taxes described in Section 3 above; provided, further that the total maximum amount of rebates payable pursuant to Section 3 shall in no event exceed ninety thousand dollars ($90,000). Sales Tax rebates pursuant to Section 3 shall terminate when the Company has received from the City the last rebate payment under this Agreement for five-year rebate period or when the Company has received $90,000 in rebate payments, whichever first occurs. The building permit fee and construction use tax rebates in Sections 1 and 2 pertaining to each phase of the Project shall be paid by the City to Company within 120 days following issuance of the certificate of occupancy or final inspection for the applicable portion of the Project work, as reasonably determined by the City, subject to Sections 5 and 6 below. The Sales Tax rebate provided for in Section 3 above shall be paid by the City to Company in annual installments, on or before FebF aFy 29 March 31 of the following year. At the end of each month, on or before the 20t" of the following month, the Company shall be responsible to remit to the City its total monthly Sales/Use Tax payment on the appropriate Sales/Use Tax return form. All rebate payments will be remitted by the City to the Company at the address set forth in Section 8. 9. Termination. This Agreement shall terminate and become void and of no force or effect upon the City if, by April 30 2022 December 31, 2022, the Company has not completed the Project as described in the Company's application for business assistance (as evidenced by a successful final inspection for the Project); or should fail to comply with any City code. Page 2 of 3