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BUSINESS ASSISTANCE AGREEMENT FOR GBS PARTNERS, INC. IN THE <br />CITY OF LOUISVILLE <br />THIS AGREEMENT ( "Agreement ") is made and entered into as of the <br />L day of .=.14,L , 2016, between the CITY OF <br />LOUISVILLE, a Colorado home rule municipal corporation (the "City"), and GBS <br />PARTNERS, INC. (the "Company ") a Colorado limited liability company, doing <br />business as Boulder Sausage, Inc. <br />WHEREAS, the City wishes to provide certain business assistance in <br />connection with expansion of the Company's operations (the "Project ") at 513 <br />South Pierce, Louisville, Colorado (the "Project Location "); and <br />WHEREAS, Company intends to expand the building and make tenant <br />improvements at the Project Location; and <br />WHEREAS, Company plans for the Project to generate new quality jobs <br />within the City and expand an existing employer in the City; and <br />WHEREAS, 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 Company 50% of <br />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 Project, ending December <br />31, 2017. <br />2. Use Tax Rebate - Construction. The City shall rebate to Company 50% of <br />the Construction Use Tax on the building materials for the Project, <br />required under Louisville Municipal Code, section 3.20.300, excluding all <br />revenues from the open space tax and historic preservation tax, for the <br />Project, ending December 31, 2017. <br />3. Payment of Rebates; Cap; Inspection. The maximum amount of the <br />rebates payable pursuant to Sections 1 and 2 above shall in no event <br />exceed the calculation of 50% of the fees or taxes described in Sections 1 <br />and 2 paid to the City, not to exceed twelve thousand five hundred dollars <br />($12,500). The building permit fee and construction use tax rebates shall <br />be paid by the City within 120 days following issuance of the certificate of <br />occupancy or final inspection for the Project work, as determined by the <br />City, subject to Sections 4 and 5 below. <br />Page 1 of 5 <br />