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RESOLUTION NO.2 <br />SERIES 2022 <br />A RESOLUTION APPROVING THE ASSIGNMENT OF THE BUSINESS <br />ASSISTANCE AGREEMENT WITH LULU'S LOW COUNTRY KITCHEN, LLC <br />TO LOUISVILLE WATERING HOLE, INC. <br />WHEREAS, the successful attraction and retention of quality development to the <br />City of Louisville provides employment opportunities and increased 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 />quality jobs and remain competitive with other local governments in creating assistance for <br />occupancy of commercial space in the City; and <br />WHEREAS, by Resolution No. 56, Series 2021, the City Council approved that <br />certain Business Assistance Agreement between the City and LuLu's Low Country <br />Kitchen, LLC ("Assignor" or "Lulu's"), dated as of August 3, 2021 (the "Agreement"); <br />and <br />WHEREAS, LuLu's has determined an alternative business entity will be used to <br />operate the planned business and has requested the City consent to an assignment of the <br />Agreement to Louisville Watering Hole, Inc ("Assignee") by way of the Assignment and <br />Assumption Agreement attached hereto as Exhibit A ("Assignment Agreement"); and <br />WHEREAS, the City is willing to approve the assignment of the Agreement from <br />Assignor to Assignee on the condition that the assignment shall not have the effect of <br />releasing Assignor from any liabilities accruing prior to the assignment; and <br />WHEREAS, the City Council finds that the proposed Assignment Agreement is <br />consistent with and in furtherance of the business assistance policies of the City, and desires <br />to approve the Assignment Agreement and authorize the Mayor to sign it to indicate the <br />City Council's approval of and consent to the assignment. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO THAT: <br />1. The City Council hereby approves and consents to the assignment of that <br />certain Business Assistance Agreement between the City of Louisville and LuLu's Low <br />Country Kitchen, LLC, dated August 3, 2021, from LuLu's Low Country Kitchen, LLC to <br />Louisville Watering Hole, Inc. <br />2. The Assignment and Assumption Agreement between LuLu's Low Country <br />Kitchen, LLC and Louisville Watering Hole, Inc (the "Assignment Agreement") is hereby <br />approved in essentially the same form as the copy accompanying this Resolution. <br />Resolution No. 2, Series 2022 <br />Page 1 of 3 <br />