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City Council Meeting Minutes April 20, 2021 Page 5 of 14 MOTION Councilmember Lipton moved to approve Resolution No. 28; Councilmember Dickinson seconded the motion. VOTE: Motion approved by unanimous roll call vote. RESOLUTION NO. 29, SERIES 2021 — A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT WITH MEDSPA SERVICES OF COLORADO LLC FOR AN ECONOMIC DEVELOPMENT PROJECT IN THE CITY OF LOUISVILLE Director Pierce stated this application is from Medspa Services of Colorado and gave some background on the business. The new location would occupy 3,300 square feet, the entire first floor, of the 957 Main Street building which is currently under development. The company anticipates hiring seven employees at move -in and growing to approximately 15 employees in the first five years of operations. Because the 824 South Street/957 Main Street redevelopment occupies a previously residential lot, the company would be generating new Sales Tax and Consumer Use Tax. She reviewed how the application meets the business assistance criteria drawing new customers and not drawing a large percentage of its clientele from existing businesses while creating new sales tax. She reviewed the proposed assistance of a 50% rebate of Building Permit Fees and Construction Use Tax for tenant finish work, capped at $8,500 and a 40% rebate on new Consumer Use Tax over a five-year period, capped at $93,000. The project must be complete by February 28, 2022 and the business must remain in Louisville for a period of seven years or a percentage of rebates must be repaid. The fiscal impact of the application includes rebates of Building Permit Fees and Construction Use Tax total $7,951, which would be off -set by anticipated revenues of $17,779. Based on the estimates provided by the applicant, the business would generate $227,328 in Consumer Use Tax revenue over a five-year period, and the City would rebate $90,931. Staff recommends approval of the resolution. Public Comments — None. MOTION Councilmember Brown moved to approve Resolution No. 29; Councilmember Dickinson seconded the motion. VOTE: Motion approved by unanimous roll call vote. 809 MAIN STREET — PLANNED UNIT DEVELOPMENT, SPECIAL REVIEW USE, LANDMARK, AND HISTORIC PRESERVATION FUND GRANT RESOLUTION NO. 30, SERIES 2021 — A RESOLUTION APPROVING A PLANNED UNIT DEVELOPMENT TO ALLOW RENOVATION OF A PORTION OF THE EXISTING