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WHEREAS, the City's Strategic Plan includes a Vibrant Economic Climate as a key goal <br />of the City, with a sub -program objective to attract and retain a diverse mix of businesses within <br />the City; and <br />WHEREAS, the City Council finds that maintaining a balanced and stable economy is <br />best achieved by retaining a wide variety of businesses within the City, as each contributes to the <br />overall fabric of the City's economy and the health, welfare, and enjoyment of its residents; and <br />WHEREAS, while everyone in the City has been impacted by COVID-19, the City <br />Council finds that certain segments of the business community have been uniquely impacted by <br />the Level Red: Severe Risk capacity and social distancing restrictions, and that it would serve an <br />important public purpose to address the inequality in the distribution of public burdens so that the <br />small business community does not pay more dearly than others for the restrictions put in place to <br />protect the public health; and <br />WHEREAS, the City Council further finds that providing assistance to businesses located <br />within the City that have been impacted by COVID-19 would serve the important public purpose <br />of stabilizing, improving and extending a valuable source of municipal revenue; and <br />WHEREAS, the City Council has reviewed the Small Business Preservation Grant <br />Program, as outlined in the Council Communication of January 5, 2021, and finds it should be <br />approved in order to preserve the health, safely and public welfare of the City and its residents. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF LOUISVILLE, COLORADO: <br />Section 1. The proposed Small Business Preservation Grant Program is hereby <br />approved, with an expenditure in the amount of five hundred thousand dollars ($500,000) from the <br />City's general fund, less any amount contributed by and pursuant to an agreement with the Louisville <br />Revitalization Commission. <br />Section 2. City staff is authorized and directed to administer the program in accordance <br />with its terms. <br />PASSED AND ADOPTED this 5th day of January, 2021. <br />OIL, <br />ATTEST: t1ann, <br />Ashley SMayor <br />of ILO <br />Meredyth Muth, City Clerk <br />BEAL <br />Resolution No. 3, Series 2021 <br />®�® Page 2 of 2 <br />