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RESOLUTION NO. 52 <br />SERIES 2021 <br />A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT WITH <br />YOGA JUNCTION LLC FOR AN ECONOMIC DEVELOPMENT PROJECT IN <br />THE CITY OF LOUISVILLE <br />WHEREAS, the successful attraction and retention of quality development to the <br />City of Louisville provides employment opportunities and increased revenue for citizen <br />services and is therefore an important public purpose; and <br />WHEREAS, it is important for the City of Louisville to retain basic jobs and <br />remain competitive with other local governments in creating assistance for occupancy of <br />commercial space in the City; and <br />WHEREAS, Yoga Junction LLC is an existing, decade -long business in Louisville <br />that is seeking to relocate within Downtown to an expanded commercial space, which will <br />likely generate new Sales Tax revenue to the City; and <br />WHEREAS, the Business Assistance Agreement between the City and Yoga <br />Junction LLC is attached hereto as Exhibit "A" and incorporated herein by this reference; <br />and <br />WHEREAS, pursuant the Constitution of the State of Colorado, and the Home <br />Rule Charter and ordinances of the City of Louisville, the City has authority to enter into <br />the proposed Business Assistance Agreement; and <br />WHEREAS, the City Council finds that the proposed Business Assistance <br />Agreement is consistent with and in furtherance of the business assistance policies of the <br />City, and desires to approve the Agreement and authorize its execution and <br />implementation. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO THAT: <br />1. The proposed Business Assistance Agreement between the City of Louisville <br />and Yoga Junction LLC (the "Agreement") is hereby approved in essentially the same form <br />as the copy of such Agreement accompanying this Resolution. <br />2. The Mayor is hereby authorized to execute the Agreement on behalf of the <br />City Council of the City of Louisville, and the Mayor is further granted the authority to <br />negotiate and approve such revisions to said Agreement as the Mayor determines are <br />necessary or desirable for the protection of the City, so long as the essential terms and <br />conditions of the Agreement are not altered. <br />3. City staff is hereby authorized to do all things necessary on behalf of the City <br />to perform the obligations of the City under the Agreement, including but not limited to <br />Resolution No. 52, Series 2021 <br />Page 1 of 3 <br />