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None. :1*111W_1:A 11b91►1***1 City Council Meeting Minutes July 27, 2021 Page 3 of 13 RESOLUTION NO. 52, SERIES 2021 — A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT WITH YOGA JUNCTION LLC FOR AN ECONOMIC DEVELOPMENT PROJECT IN THE CITY OF LOUISVILLE Director Pierce noted this is a request from Yoga Junction. She reviewed the history of the business noting it was not able to renew its current lease as the property is coming under new ownership. The owner has been seeking an expanded commercial space in Downtown and is evaluating a lease at 950 Spruce Street, which has been vacant for a number of months. Their current location is 1,119 square feet; the proposed new location would occupy 1,497 square feet and would allow business to expand its retail footprint. The business has one full-time employee and 15 contractors. The relocation/expansion would retain all of these jobs and may enable it to add another full-time position in the future. The project meets the assistance criteria as it retains basic jobs to the City; retains existing sales tax and creates new sales tax; utilizes an existing building and current vacant commercial space; and expands a current retail outlet. The proposed package includes a 50% rebate of Building Permit Fees and Construction Use Tax for tenant finish work, capped at $700; and a 50% rebate on new Sales Tax over a five-year period, capped at $500. The project must be completed by December 31, 2021 and the business must remain in Louisville for a period of five years or a percentage of rebates received must be repaid. Staff recommends approval of the resolution. Public Comments — None. Councilmember Dickinson disclosed the owner is a friend if his but he has no financial stake in this business and does not feel a recusal is necessary. Motion: Mayor Pro Tern Maloney moved to approve Resolution No. 52, Series 2021; seconded by Councilmember Lipton. Vote: Motion passed by unanimous roll call vote. ORDINANCE NO. 1810, SERIES 2021 — AN ORDINANCE SUBMITTING TO THE REGISTERED ELECTORS OF THE CITY AT THE NOVEMBER 2, 2021 REGULAR MUNICIPAL ELECTION A BALLOT ISSUE CONCERNING INCREASES IN CITY DEBT