Laserfiche WebLink
LL Cityof CITY COUNCIL COMMUNICATION <br />Louisville AGENDA ITEM 4C <br />COLORADO • SINCE 1878 <br />SUBJECT: APPROVAL OF RESOLUTION NO. 68, SERIES 2021 — A <br />RESOLUTION APPROVING THE ASSIGNMENT OF THE <br />BUSINESS ASSISTANCE AGREEMENT WITH C2X GROUP LLC <br />TO TGR GROUP LLC <br />DATE: OCTOBER 5, 2021 <br />PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR <br />SUMMARY: <br />On July 13, 2021, the City Council approved a Business Assistance Package (BAP) <br />with C2X Group LLC, DBA Louisville Beer Garden (Resolution No. 44, Series 2021). <br />Staff now requests City Council action to amend the original agreement related to <br />formation of a new business entity. <br />DISCUSSION: <br />Since approval of C2X Group LLC's BAP in July, staff has continued interacting with the <br />company about their plans to open a new restaurant concept in the former Growler USA <br />space at 1069/1071 Courtesy Road. The company is advancing the project, but has <br />formed a new business entity that will be operating the business. In consulting with the <br />City Attorney, it was determined that an Assignment and Assumption Agreement to the <br />approved Business Assistance Agreement would best ensure all parties are properly <br />noticed of related rights and obligations. <br />TGR Group LLC is a Colorado Limited Liability Company that has been registered and <br />is in good standing with the Colorado Secretary of State. TGR Group LLC is the new <br />proposed entity for the Business Assistance Agreement; it is also the same entity that <br />the business proposes to use for their liquor licensing. The attached Assignment and <br />Assumption Agreement does not change any other terms of the original Business <br />Assistance Agreement. <br />FISCAL IMPACT: <br />There is no specific fiscal impact related to the assignment. <br />PROGRAM/SUB-PROGRAM IMPACT: <br />The recommended Business Assistance Agreement supports the Business Retention & <br />Development sub -program objective to retain a diverse mix of businesses that provide <br />good employment opportunities for Louisville residents. <br />RECOMMENDATION: <br />Staff recommends City Council adopt the Resolution approving the assignment of the <br />Business Assistance Agreement with C2X Group LLC to TGR Group LLC. <br />CITY COUNCIL COMMUNICATION <br />15 <br />