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SUBJECT: RESOLUTION 59, SERIES 2021 <br />DATE: AUGUST 24, 2021 PAGE 3 OF 3 <br />Louisville for a period of seven (7) years, the Agreement provides for a percentage of <br />rebates received to be repaid to the City. <br />In 2020, the City approved eight Business Assistance Agreements, including: Duda, <br />Inc., Linmark, Inc. (Coal Creek Ace Hardware), Corvus Nidus, LLC (The Rose and <br />Raven), Forge Nano, Inc., Loxo Oncology, Emergy Foods, COplex Sports, and <br />Anhinga Co, (BearVault). So far in 2021, the City has approved new business <br />assistance agreements with 824 South Inc., South Street Market, EarthHero LLC, <br />Medspa Services of Colorado LLC, Louisville Cyclery LLC, C2X Group LLC <br />(Louisville Beer Garden), Studio Shed Acquisition LLC, Yoga Junction LLC, LuLu's <br />Low Country Kitchen LLC, and Umoja Biopharma Inc. <br />FISCAL IMPACT: <br />Based on estimates, the City will receive $222,213 in revenue from fees and taxes (net <br />$130,525 after proposed rebates). The total fiscal impact is anticipated to be $91,688 <br />over a five-year period. <br />PROGRAM/SUB-PROGRAM IMPACT: <br />The recommended Business Assistance Agreement supports the Economic Prosperity <br />Program Goal to promote a thriving business climate that provides job opportunities, <br />facilitates investment, and produces reliable revenue to support City services. <br />RECOMMENDATION: <br />Staff recommends adoption of the Resolution. <br />ATTACHMENTS: <br />1. Resolution Approving Business Assistance Agreement <br />2. Business Assistance Agreement <br />3. Business Assistance Program Criteria and Application <br />4. Presentation <br />STRATEGIC PLAN IMPACT: <br />® <br />Financial Stewardship & <br />❑ <br />Reliable Core Services <br />Asset Management <br />®a� <br />Vibrant Economic <br />❑ <br />Quality Programs & <br />Climate <br />Amenities <br />❑ <br />Engaged Community <br />❑ <br />Healthy Workforce <br />0 <br />❑ <br />0 Supportive Technology <br />❑ <br />• Collaborative Regional <br />Partner <br />CITY COUNCIL COMMUNICATION <br />