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BUSINESS ASSISTANCE AGREEMENT FOR <br />STUDIO SHED ACQUISITION LLC IN THE CITY OF LOUISVILLE <br />THIS AGREEMENT ("Agreement") is made and entered into as of the <br />1 Th day of July , 2021, between the CITY OF <br />LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and <br />STUDIO SHED ACQUISITION LLC (the "Company"), a Delaware limited liability <br />company. <br />WHEREAS, the City wishes to provide certain business assistance in <br />connection with the Company's desire to expand its commercial footprint in <br />Louisville by adding 11,000 square feet at 1500 Cherry Street (the "Project <br />Location"); and <br />WHEREAS, the City benefits from retaining this company headquarters in <br />Louisville with its existing workforce and for adding new employment opportunities <br />with growth; and <br />WHEREAS, the Company's expansion will generate new Consumer Use <br />Tax and Sales Tax revenues to the City; and <br />WHEREAS, the City Council finds the execution of this Agreement will serve <br />to provide benefit and advance the public interest and welfare of the City and its <br />citizens by securing this economic development project within the City. <br />NOW THEREFORE, in consideration of the mutual promises set forth <br />below, the City and Company agree as follows: <br />1. Building Permit Fee Rebates. The City shall rebate to the Company 50% <br />of the building related permit fees for the Project, required under Louisville <br />Municipal Code, section 15.04.050 and section 108.2 of the International <br />Building Code as adopted by the City, for the period from execution of this <br />Agreement and ending August 30, 2022. <br />2. Use Tax Rebate -Construction. The City shall rebate to the Company 50% <br />of the Construction Use Tax on the construction materials for the Project, <br />required under Louisville Municipal Code, section 3.20.300, excluding all <br />revenues from the Open Space Tax, Historic Preservation Tax, and <br />Recreation Center Tax for the Project, for the period from execution of this <br />Agreement and ending August 30, 2022. <br />3. Use Tax Rebate — Tangible Goods. The City shall rebate to the Company <br />50% of the Use Tax paid and collected on tangible good purchases that are <br />made by the Company related to its operations in Louisville, required under <br />Louisville Municipal Code, section 3.20.300, excluding all revenues from the <br />Open Space Tax, Historic Preservation Tax, and Recreation Center Tax for <br />Page 1 of 6 <br />