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FIRST AMENDMENT TO BUSINESS ASSISTANCE AGREEMENT FOR 824 SOUTH INC. IN THE CITY OF LOUISVILLE THIS FIRST AMENDMENT TO BUSINESS ASSISTANCE AGREEMENT ("First Amendment") is made and entered into as of the 301" day of October, 2021, by and between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and 824 SOUTH, INC. (the "Company"), a Colorado corporation. WHEREAS, by Resolution No. 17, Series 2021, the City Council approved a Business Assistance Agreement for 824 South, Inc. (the "Original Agreement") to provide certain business assistance in connection with the Company's desire to redevelop a residential property into two new commercial buildings (the "Project") at 824 South Street and 957 Main Street (the "Project Location"); and WHEREAS, the Company's redevelopment provides 12,258 square feet of space for future tenants that will likely attract customers to Downtown and generate new sales tax revenue for the City; and WHEREAS, the Company's planned lease signing and opening schedule has been delayed and the Company is currently in the process of obtaining required permits. The Company now anticipates completing their project by September 30, 2022 instead of no later than October 30, 2021; and WHEREAS, the City Council finds the execution of this First Amendment to extend the completion date and the period for permit fee and use tax rebates will serve to provide benefit and advance the public interest and welfare of the City and its citizens by securing this economic development project within the City. NOW THEREFORE, in consideration of the mutual promises set forth below, the City and Company agree as follows: Section 1. Sections 1, 2, and 8 of the Agreement are hereby revised to read as follows (words to be deleted s keR; words to be added underlined): 1. Building Permit Fee Rebates. The City shall rebate to the Company 50% of the building related permit fees for the Project, required under Louisville Municipal Code, section 15.04.050 and section 108.2 of the International Building Code as adopted by the City, for the period from execution of this Agreement and ending QGtebe30, 02 September 30, 2022. 2. Use Tax Rebate -Construction. The City shall rebate to the Company 50% of the Construction Use Tax on the construction materials for the Project, required under Louisville Municipal Code, section 3.20.300, excluding all revenues from the Open Space Tax, Historic Preservation Tax, and Page 1 of 2