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RESOLUTION NO. 43 <br />SERIES 2019 <br />A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT <br />WITH 1882 VENTURES, LLC FOR AN ECONOMIC DEVELOPMENT <br />PROJECT IN THE CITY OF LOUISVILLE <br />WHEREAS, the successful attraction and retention of high quality development to <br />the City of Louisville provides employment opportunities and increased revenue for citizen <br />services and is therefore an important public purpose, and <br />WHEREAS, it is important for the City of Louisville to create and enhance retail <br />sales tax opportunities and remain competitive with other local governments in providing <br />assistance for creation and occupancy of commercial space in the City; and <br />WHEREAS, 1882 Ventures, LLC, plans to increase retail sales tax opportunities <br />at the property located at 640 Front Street; and <br />WHEREAS, pursuant the Constitution of the State of Colorado, and the <br />Home Rule Charter and ordinances of the City of Louisville, the City has authority to enter <br />into the proposed Business Assistance Agreement, a copy of which accompanies this <br />Resolution, and <br />WHEREAS, the City Council finds that the proposed Business Assistance <br />Agreement is consistent with and in furtherance of the business assistance policies of the <br />City, and desires to approve the Agreement and authorize its execution and <br />implementation. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO THAT <br />1 The proposed Business Assistance Agreement between the City of Louisville <br />and 1882 Ventures, LLC (the "Agreement") is hereby approved in essentially the same form <br />as the copy of such Agreement accompanying this Resolution. <br />2 The Mayor is hereby authorized to execute the Agreement on behalf of the <br />City Council of the City of Louisville, and the Mayor is further authorized to negotiate and <br />approve such revisions to said Agreement as the Mayor determines are necessary or desirable <br />for the protection of the City, so long as the essential terms and conditions of the Agreement <br />are not altered. <br />3 City staff is hereby authorized to do all things necessary on behalf of the City <br />to perform the obligations of the City under the Agreement, including but not limited to <br />funding and implementation of the Agreement in accordance with and upon performance of <br />the terms thereof. <br />Resolution No. 43, Series 2016 <br />Page 1 of 2 <br />