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RESOLUTION NO. 65 SERIES 2020 A RESOLUTION APPROVING A FIRST AMENDMENT TO A BUSINESS ASSISTANCE AGREEMENT WITH LINMARK, INC. FOR AN ECONOMIC DEVELOPMENT PROJECT IN THE CITY OF LOUISVILLE WHEREAS, the successful attraction and retention of 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 create and retain high - quality jobs and remain competitive with other local governments in creating assistance for occupancy of commercial space in the City; and WHEREAS, Linmark, Inc. (DBA Coal Creek Ace Hardware) plans to open a new retail store in Louisville; and WHEREAS, by Resolution No. 13, Series 2020, the City Council approved a Business Assistance Agreement between the City and Linmark, Inc. (the "Agreement"); and WHEREAS, due to a delay in signing a lease with the COVID-19 pandemic and shutdown, Linmark, Inc. has requested the Agreement be amended as set forth in the First Amendment to Business Assistance Agreement, a copy of which is attached hereto as Exhibit A; and WHEREAS, the City Council finds that the proposed First Amendment to 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 First Amendment to Business Assistance Agreement between the City of Louisville and Linmark, Inc. (the "First Amendment") is hereby approved in essentially the same form as the copy accompanying this Resolution. 2. The Mayor is hereby authorized to execute the First Amendment 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 First Amendment as the Mayor determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the First Amendment are not altered. 3. City staff is hereby authorized to do all things necessary on behalf of the City to perform the obligations of the City under the Agreement, as amended by the First Resolution No. 65, Series 2020 Page 1 of 3