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RESOLUTION NO.8 SERIES 2021 A RESOLUTION APPROVING A FIRST AMENDMENT TO PUBLIC INFRASTRUCTURE ASSISTANCE AGREEMENT BY AND AMONG THE CITY OF LOUISVILLE, THE LOUISVILLE REVITALIZATION COMMISSION, AND 824 SOUTH, INC. WHEREAS, the City of Louisville (the "City") is a home -rule city and municipal corporation duly organized and existing under and pursuant to Article XX of the Colorado Constitution and Charter of the City; and WHEREAS, the Louisville Revitalization Commission (the "LRC") is a public body corporate and politic authorized to transact business and exercise its powers as an urban renewal authority under and pursuant to the Colorado Urban Renewal Law, Part 1 of Article 25 of Title 31, C.R.S. (the "Act"); and WHEREAS, the LRC is charged with addressing issues contributing to blight within the Highway 42 Revitalization Area; and WHEREAS, 824 South, Inc. has undertaken redevelopment of the property located at 957 Main Street and 824 South Street within the Highway 42 Revitalization Area, which will reduce, eliminate, and prevent the spread of blight and stimulate growth and reinvestment within the Area boundaries; and WHEREAS, by Resolution No. 25, Series 2020, the City Council approved that certain Public Infrastructure Assistance Agreement by and among the City, the LRC, and 824 South, Inc., dated April 15, 2020 (the "Agreement"); and WHEREAS, the LRC approved the Agreement on April 15, 2020 by Resolution No. 20- 01; and WHEREAS, due to delays in the building construction and increased public infrastructure costs, 824 South Inc. has requested the Agreement be amended as set forth in the First Amendment to the Public Infrastructure Assistance Agreement, a copy of which is attached hereto as Exhibit A; and WHEREAS, the City Council finds that the proposed First Amendment to Public Infrastructure Assistance Agreement is consistent with and in furtherance of the objectives of the Highway 42 Revitalization Area, and desires to approve the Agreement and authorize its execution and implementation. Resolution No. 8, Series 2021 Page 1 of 2