HomeMy WebLinkAboutResolution 3912-08-2010A Resolution
NO 3912-08-2010
NOMINATING RADIOSHACK CORPORATION AS AN ENTERPRISE PROJECT
PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303,
OF THE TEXAS GOVERNMENT CODE
WHEREAS, the City Council of the City of Fort Worth (the `City") has previously passed Ordinance No 15733
electing to participate in the Texas Enterprise Zone Program, and the local incentives offered under this
Resolution are the same on this date as were outlined m Ordinance No 15733
WHEREAS, the Office of the Governor Economic Development and Tourism through the Econommc
Development Bank ("Bank") will consider RadioShack Corporation as an enterprise project pursuant to a
normnation and an application made by the City•
WHEREAS, the City desires to pursue the creation of the proper economic and social environment in order to
induce the investment of private resources in productive business enterprises located m the City and to provide
employment to residents of enterprise zones and to other econommcally disadvantaged individuals,
WHEREAS, pursuant to Chapter 2303 Subchapter F of the Texas Enterprise Zone Act, Texas Government Code
(the Act") RadioShack Corporation has applied to the City for designation as an enterprise project;
WHEREAS, the City finds that RadioShack Corporation meets the criteria for designation as an enterprise
project under Chapter 2303 Subchapter F of the Act on the following grounds.
RadioShack Corporation is a qualified business under Section 2303 402 of the Act since it will be
engaged m the active conduct of a trade or business at a qualified business site within the govermng
body's jurisdiction located outside of an enterprise zone and at least thirty five percent (35%) of the
business's new employees will be residents of an enterprise zone or economically disadvantaged
individuals, and
2. There has been and will continue to be a high level of cooperation between public, private, and
neighborhood entities within the area, and
The designation of RadioShack Corporation as an enterprise project will contribute significantly to the
achievement of the plans of the City for development and revitalization of the area,
WHEREAS, the City finds that RadioShack Corporation meets the criteria for tax relief and other incentives
adopted by the City and nominates RadioShack Corporation for enterprise project status on the grounds that it is
located at the qualified business site and will create a higher level of employment, economic activity and stability
in the area, and
WHEREAS, the City finds that it is in the best interest of the City to nominate RadioShack Corporation as an
enterprise project pursuant to the Act;
ORTWORT
T
RESOLUTION NO 3912-08-2010
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS.
1 That the findings of the City and its actions approving this resolution taken at the Council
meeting are hereby approved and adopted.
2. That RadioShack Corporation is a qualified business, as defined in Section 2303 402 of the Act,
and meets the cntena for designation as an enterprise project, as set forth m Section 2303
Subchapter F of the Act.
3 That the enterprise project shall take effect on the date of designation of the enterprise project by
the Bank and terrrunate five (5) years after the date of designation.
Adopted this 17~h daily} of August 2010
ATTEST }~~.~` ~ :+
- ~~
By'
s.
ORT WURT
CITY COUNCIL
AUG 17 2010
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City of Frnct Wocth, Texas
_~
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION. Approved on 8117/2010 ,-.Res. No. 391:2-08-2010 ;,
~~ .,~~._~ __-__- - .~ R ~,..~_____..o_ ,~
DATE Tuesday August 17 2010 REFERENCE NO *G-17012
LOG NAME 17RADIOSHACK-RES
SUBJECT
Adopt a Resolution Nominating RadioShack Corporation as an Enterprise Project Pursuant to the Texas
Enterprise Zone Act (COUNCIL DISTRICT 2)
RECOMMENDATION
It is recommended that the City Council adopt the attached resolution nominating RadioShack Corporation
as an Enterprise Project Pursuant to the Texas Enterprise Zone Act, Chapter 2303 Texas Government
Code
DISCUSSION
The City Council previously adopted Ordinance No 15733 electing to participate in the Texas Enterprise
Zone Program The Office of the Governor Economic Development and Tourism through the Economic
Development Bank, will consider RadioShack Corporation as an enterprise project pursuant to a
nomination and an application made by the City
The City finds that RadioShack Corporation meets the criteria for designation as an enterprise project
under Chapter 2303 Subchapter F of the Acton the following grounds
1 RadioShack Corporation is a qualified business under Section 2303 402 of the Act since it will be
engaged in the active conduct of a trade or business at a qualified business site within the
governing body's jurisdiction located outside of an enterprise zone and at least 35 percent of the
business new employees will be residents of an enterprise zone or economically disadvantaged
individuals
2. There has been and will continue to be a high level of cooperation between public, private, and
neighborhood entities within the area and
3 The designation of RadioShack Corporation as an enterprise project will contribute significantly to
the achievement of the plans of the City for development and revitalization of the area
RadioShack Corporation is a leading distributor of electronic parts and products This project is located in
COUNCIL DISTRICT 2
FISCAL INFORMATION /CERTIFICATION
The Financial Management Services Director certifies that this action will have no material effect on City
funds
FUND CENTERS
Logname• 17RADIOSHACK RES Page 1 of 2
TO Fund/Account/Centers
CERTIFICATIONS
FROM Fund/Account/Centers
Submitted for City Manaaer's Office bv: Thomas Higgins (6192)
Originating Department Head. Jay Chapa (5804)
Robert Sturns (8003)
Additional Information Contact: Ana Alvarado (2661)
Logname 17IZADIOSHACK RES Page 2 of 2