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City Council Meeting Minutes October 20, 2020 Page 3 of 9 REGULAR BUSINESS RESOLUTION NO. 81, SERIES 2020 — A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT WITH ANHINGA CO., DBA BEARVAULT, FOR AN ECONOMIC DEVELOPMENT PROJECT IN THE CITY OF LOUISVILLE Mayor Stolzmann introduced the item. Director Pierce stated this is a request for a Business Assistance Packet (BAP) for BearVault which was founded in 2002 and acquired by the current owners in 2017; the company makes bear -resistant food canisters for backpackers. They recently relocated to Colorado, where they are seeking to expand operations. She stated they have evaluated spaces in Westminster and Boulder and are focusing on existing vacant space in the Colorado Technology Center that is approximately 6,000 SF. They have three existing employees and hope to expand to nine with the average annual salary of $76,000. Director Pierce reviewed the BAP criteria noting this application utilizes an existing building; brings new basic jobs to the City, with average salaries above the county's wage average; and brings a value added result by creating a company headquarters in town. She reviewed the proposed assistance that includes a 50% rebate of Building Permit Fees and Construction Use Tax capped at $10,000, a 40% rebate on new Consumer Use Tax related to equipment and tangible good purchases for build -out capped at $1,500. She added the project must be complete by June 30, 2021 and must remain in Louisville for five years. The total impact over two years is estimated to be $22,977. Staff recommends approval of the resolution. 1t171Wi•uu-N 01rem Councilmember Lipton moved to approve the resolution; seconded by Councilmember Fahey. Roll call vote: Motion passed by unanimous roll call vote. RESOLUTION NO. 82, SERIES 2020 — A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT ESTABLISHING THE ROCKY MOUNTAIN METROPOLITAN AIRPORT COMMUNITY NOISE ROUNDTABLE Mayor Stolzmann introduced the item.