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RESOLUTION NO. 21 SERIES 2022 A RESOLUTION APPROVING A FIRST AMENDMENT TO BUSINESS ASSISTANCE AGREEMENT WITH LOUISVILLE WATERING HOLE, INC. FOR AN ECONOMIC DEVELOPMENT PROJECT IN THE CITY OF LOUISVILLE WHEREAS, the successful attraction and retention of quality development to the City of Louisville provides employment opportunities and increased revenue for citizen services and is therefore an important public purpose; and WHEREAS, it is important for the City of Louisville to create and retain high - quality jobs and remain competitive with other local governments in creating assistance for occupancy of commercial space in the City; and WHEREAS, LuLu's Low Country Kitchen, LLC is establishing a new restaurant in previously vacant commercial space, which will add basic jobs and generate new Sales Tax revenue to the City; and WHEREAS, by Resolution No. 56, Series 2021, the City Council approved a Business Assistance Agreement between the City and LuLu's Low Country Kitchen, LLC (the "Agreement"); and WHEREAS, by Resolution No. 2, Series 2022, the City Council approved the assignment of the Business Assistance Agreement with LuLu's Low Country Kitchen, LLC to Louisville Watering Hole, Inc. (the "Assignment"); and WHEREAS, due to a delay in construction, Louisville Watering Hole, Inc. has requested the Agreement be amended as set forth in the First Amendment to Business Assistance Agreement, a copy of' which is attached hereto as Exhibit A ("First Amendment"); and WHEREAS, the City Council finds that the proposed First Amendment is consistent with and in furtherance of the business assistance policies of the City, and desires to approve the First Amendment and authorize its execution and implementation. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO THAT: l . The proposed First Amendment to Business Assistance Agreement between the City of Louisville and Louisville Watering Hole, Inc. (the "First Amendment") is hereby approved in essentially the same form as the copy accompanying this Resolution. 2. The Mayor is hereby authorized to execute the First Amendment on behalf of the City Council of the City of Louisville, and the Mayor is hereby further authorized to negotiate and approve such revisions to said First Amendment as the Mayor determines are Resolution No, 21, Series 2022 Page 1 of 3