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RESOLUTION NO. 23 <br /> SERIES 2011 <br /> A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT <br /> WITH BABOLAT VS NORTH AMERICA, INC. FOR THE OCCUPANCY OF <br /> EXISTING VACANT SPACE AT 1775 CHERRY STREET IN THE CITY OF <br /> LOUISVILLE <br /> WHEREAS, the successful attraction and retention of high quality development <br /> to the City of Louisville provides employment opportunities and increased revenue for <br /> citizen services and is therefore an important public purpose; and <br /> WHEREAS, it is important for the City of Louisville to attract high quality jobs <br /> and remain competitive with other local governments in creating assistance for <br /> occupancy of existing space in the City; and <br /> WHEREAS, Babolat VS North America, Inc. plans to lease 80,612 square feet of <br /> manufacturing /office space at 1775 Cherry Street in the Centennial Valley in Louisville; <br /> and <br /> WHEREAS, there has been proposed a Business Assistance Agreement between <br /> the City and Babolat VS North America, Inc., a copy of which is attached hereto as <br /> Exhibit "A" and incorporated herein by this reference; and <br /> WHEREAS, pursuant the Constitution of the State of Colorado, and the Home <br /> Rule Charter and ordinances of the City of Louisville, the City has authority to enter into <br /> the proposed Business Assistance Agreement; <br /> WHEREAS, the City Council finds that the proposed Business 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 authorize 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 Babolat VS North America, Inc. LLC (the "Agreement is hereby approved in <br /> essentially the same 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 /> Resolution No. 23, Series 2011 <br /> Page 1 of 3 <br />