City Council Study Session Agenda and Packet 2004 12 14

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Executed to be effective as of the date first set forth above. ATTEST: 3 CITY OF LOUISVILLE By: Redline of Louisville 11 -22 -04 Draft prior to construction of 250,000 square feet of retail, sales -tax generating development. B. Paragraph 9 of the Agreement is amended to read in full as follows: 9. No Impairment. Neither Louisville nor Superior shall impair the rights of the other, without the other's consent, to share in the revenues to be collected and shared as described in this Agreement. Further, in recognition of Superior's interest in securing a stable sales tax base, Louisville shall not solicit any retail business located and operating in Superior's jurisdiction within one -half mile of the center of the bridge of the U.S. 36 /McCaslin interchange by , incentive ;,in order to encourage physical relocation of such business to Louisville within seven years of the date of this Amendment. In recognition of Louisville's interest in securing a stable sales tax base, Superior shall not solicit any retail business located and operating in Louisville's jurisdiction within one -half mile of the center of the bridge of the U.S. 36 /McCaslin interchange by ,incentives order to encourage physical relocation of such business to Superior within seven years of the date of this Amendment. For purposes of this paragraph, "incentive" is limited to sales tax increment financing, sales tax reimbursements or waivers of fees charged to similarly situated development by the jurisdiction; and "physical relocation" means closing an existing sales tax generating retail operation in one jurisdiction in order to open the same retail operation in the other jurisdiction. C. Paragraph 14 of the Agreement is amended to read in full as follows: 14. Sales Tax Revenue. The amount of sales tax revenues to be shared with Louisville pursuant to this Agreement shall not be affected or reduced by any sales tax increment finance plan, and neither party . shall ,implement any sales increment finance plan that would have such effect. D. Except as specifically amended herein, the Agreement shall remain in full force and effect. 12/10/2004, 2:53 PM, J, G: \COUNCIL \Council Communication\2004 \Dec 14 Biella Menkick IGA Redline.doc { Deleted: or offer economic 3 { Deleted: to Deleted: any retail business located and operating in Superior's jurisdiction { Deleted: or offer economic Deleted: to any retail business located and operating in Louisville's jurisdiction { Deleted: Superior - Deleted: not approve or Deleted: 12/3/2004 { Deleted: 11/23/2004 ( Deleted: 2:13 PM Deleted: 5:06 PM Deleted: G: \4\sup4550 \LOUISVILLE\ KEh 11 -23 to Light 11- 22.doc Deleted: F: \Company \Louisville\Agre ement \Superior- Lville IGA 1st Amendment - Land Use (sjl rev. 11- 22-04).doc