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RESOLUTION NO. 19 SERIES 2012 A RESOLUTION APPROVING AN AMENDED BUSINESS ASSISTANCE AGREEMENT WITH PEARL IZUMI USA, INC FOR THE CONSTRUCTION OF A NEW COMMERCIAL BUILDING IN THE COLORADO TECHNOLOGY CENTER IN THE CITY OF LOUISVILLE WHEREAS, the successful attraction and retention of high quality development to the City of Louisville provides employment opportunities and increased revenue for citizen services and is therefore an important public purpose; and WHEREAS, it is important for the City of Louisville to retain high-quality jobs and remain competitive with other local governments in creating assistance for occupancy of existing space in the City; and WHEREAS, Pearl iZumi USA, Inc. plans to construct a new 75,000 to 108,000 square foot commercial building on vacant land in the Colorado Technology Center to serve as their corporate headquarters; and WHEREAS, On February 7 2012, the City Council approved a Business Assistance Agreement between the City and Pearl iZumi USA, Inc., and Pearl iZumi USA, Inc. has requested an amendment to that agreement; a copy of which is attached hereto as Exhibit "A" and incorporated herein by this reference; and WHEREAS, pursuant to the Constitution of the State of Colorado, and the Home Rule Charter and ordinances of the City of Louisville, the City has authority to enter into the proposed Business Assistance Agreement; WHEREAS, the City Council finds that the proposed Business Assistance Agreement is consistent with and in furtherance of the business assistance policies of the City, and desires to approve the Agreement and authorize its execution and implementation; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE,COLORADO THAT: 1. The proposed Business Assistance Agreement between the City of Louisville and Pearl iZumi USA, Inc. (the "Agreement").is hereby approved in essentially the same form as the copy of such Agreement accompanying this Resolution. 2. The Mayor is hereby authorized to execute the Agreement on behalf of the City Council of the City of Louisville, except that the Mayor is hereby granted the authority to negotiate and approve such revisions to said Agreement as the Mayor determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the Agreement are not altered. Resolution No. 19, Series 2012 Page 1 of 3