Resolution 2020-15 - Laserfiche WebLink

Home Browse Search

RESOLUTION NO. 15 SERIES 2020 A RESOLUTION APPROVING AN AGREEMENT AMONG THE CITY OF LOUISVILLE, THE LOUISVILLE REVITALIZATION COMMISSION, AND THE LOUISVILLE FIRE PROTECTION DISTRICT FOR PROPERTY TAX TIF REVENUE SHARING WHEREAS, the City of Louisville (the "City") is a home -rule city and municipal corporation duly organized and existing under and pursuant to Article XX of the Colorado Constitution and Charter of the City; and WHEREAS, the Louisville Revitalization Commission (the "LRC") is a public body corporate and politic authorized to transact business and exercise its powers as an urban renewal authority under and pursuant to the Colorado Urban Renewal Law, Part 1 of Article 25 of Title 31, C.R.S. (the "Act"); and WHEREAS, the Louisville Fire Protection District (the "District") is a fire protection district organized pursuant to Title 32 of the Colorado Revised Statutes; and WHEREAS, pursuant to the Act, the City Council adopted Resolution No. 37, Series 2006 approving the Highway 42 Revitalization Area Urban Renewal Plan (the "Plan") to carry out the urban renewal project (the "Urban Renewal Project") described in the Plan for the area described therein (the "Urban Renewal Area"); and WHEREAS, the Act includes and the Plan contains a provision authorizing the financing of the Urban Renewal Project utilizing tax increment financing as further provided in the Plan and as authorized by Section 31-25-107(9) of the Act; and WHEREAS, Section 31-25-107(11) of the Act permits and authorizes the City, the LRC, and the District to enter into agreements for allocation of responsibility among the parties to the agreement for payment of the costs of any additional infrastructure or services necessary to offset the impacts of an urban renewal project and for the sharing of revenues; and WHEREAS, the City desires to enter into such an agreement as authorized under Section 31-25-107(11). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. The proposed Agreement Regarding Property Tax TIF Revenue Sharing, Highway 42 Revitalization Area, among the City of Louisville, the Louisville Revitalization Commission, and the Louisville Fire Protection District (the "Agreement"), a copy of which is attached hereto and incorporated herein by this reference, is hereby approved. Resolution No. 15, Series 2020 Page 1 of 2