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RESOLUTION NO. 3 <br />SERIES 2018 <br />A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT <br />WITH INOVONICS CORPORATION FOR AN ECONOMIC DEVELOPMENT <br />PROJECT IN THE CITY OF LOUISVILLE <br />WHEREAS, the successful attraction and retention of quality development to the <br />City of Louisville provides employment opportunities and mcreased revenue for citizen <br />services and is therefore an important public purpose; and <br />WHEREAS, it is important for the City of Louisville to create and retain high- <br />quahty jobs and remain competitive with other local governments in creating assistance <br />for occupancy of commercial space in the City, and <br />WHEREAS, Inovomcs Corporation, plans to expand its headquarters operation <br />m Louisville, and <br />WHEREAS, the Busmess Assistance Agreement between the City and Inovomcs <br />Corporation, is attached hereto as Exhibit "A" and mcorporated herein by this reference; <br />and <br />WHEREAS, pursuant the Constitution of the State of Colorado, and the Home <br />Rule Charter and ordmances of the City of Louisville, the City has authority to enter into <br />the proposed Busmess Assistance Agreement, <br />WHEREAS, the City Council fmds that the proposed Busmess Assistance <br />Agreement is consistent with and in furtherance of the business assistance policies of the <br />City, and desires to approve the Agreement and authonze its execution and <br />implementation, <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />THE CITY OF LOUISVILLE, COLORADO THAT: <br />1 The proposed Business Assistance Agreement between the City of Louisville <br />and Inovonics Corporation (the "Agreement") is hereby approved in essentially the same <br />form as the copy of such Agreement accompanying this Resolution <br />2 The Mayor is hereby authorized to execute the Agreement on behalf of the <br />City Council of the City of Louisville, except that the Mayor is hereby granted the authority <br />to negotiate and approve such revisions to said Agreement as the Mayor determines are <br />necessary or desirable for the protection of the City, so long as the essential terms and <br />conditions of the Agreement are not altered <br />3 City staff is hereby authorized to do all things necessary on behalf of the City <br />to perform the obligations of the City under the Agreement, including but not limited to <br />Resolution No 3, Senes 2018 <br />Page 1 of 3 <br />