HomeMy WebLinkAboutResolution 3915-08-2010A Resolution
NO 3915-0$-2010
NOMINATING TD AMERITRADE, INC 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 in Ordinance No. 15733
WHEREAS, the Office of the Governor Economic Development and Tourism, through the Econommc
Development Bank (the `Bank"), will consider TD Ameritrade, Inc. as an enterprise project pursuant to a
nomination and an application made by the City
WHEREAS, the City desires to pursue the creation of the proper economic and social environment m order to
induce the investment of private resources m productive business enterprises located in the City and to provide
employment to residents of enterprise zones and to other econoncally disadvantaged individuals;
WHEREAS, pursuant to Chapter 2303 Subchapter F of the Texas Enterprise Zone Act, Texas Government Code
(the Act"), TD Ameritrade, Inc has applied to the City for designation as an enterprise project;
WHEREAS, the City finds that TD Ameritrade, Inc. meets the criteria for designation as an enterprise project
under Chapter 2303 Subchapter F of the Act on the following grounds:
TD Ameritrade, Inc. is a qualified business" under Section 2303 402 of the Act since rt 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 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
3 The designation of TD Ameritrade, Inc. 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 Crty finds that TD Ameritrade, Inc. meets the criteria for tax relief and other incentives adopted
by the City and norrunates TD Ameritrade, Inc. for enterprise project status on the grounds that it is located at the
qualified business site and will create a higher level of employment, econommc activity and stability in the area,
and
WHEREAS, the City finds that it is m the best interest of the City to norrunate TD Ameritrade, Inc. as an
enterprise protect pursuant to the Act;
ORT WORT
~.
RESOLUTION NO 3915-OS-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 TD Ameritrade, Inc. is a qualified business, as defined in Section 2303 402 of the
Act, and meets the criteria for designation as an enterprise project, as set forth in 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 day of August 2010
ATTEST
~,
APPROVED
can cou~ciL
By
ORT WORT
AUG 17 2Q1Q
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~af~'ctics'~esc~ 't'exa~
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 8/17/2010 `-Res, No, 3915.08-2010,
DATE Tuesday August 17 2010 REFERENCE NO **G-17013
LOG NAME 17TDAIVIERITRADE-RES
SUBJECT
Adopt a Resolution Nominating TD Ameritrade Inc. 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 TD Ameritrade Inc. 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 TD Ameritrade Inc. as an enterprise project pursuant to a nomination
and an application made by the City
The City finds that TD Ameritrade Inc. meets the criteria for designation as an enterprise project under
Chapter 2303 Subchapter F of the Act on the following grounds.
1 TD Ameritrade Inc. 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 TD Ameritrade Inc. as an enterprise project will contribute significantly to the
achievement of the plans of the City for development and revitalization of the area
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
TO Fund/AccountlCenters FROM Fund/Account/Centers
Logname: 17TDAMERITRADE RES Page 1 of 2
CERTIFICATIONS
Submitted for City Manag_er's Office by_
Originating Department Head.
Additional Information Contact:
Thomas Higgins (6192)
Jay Chapa (.5804)
Robert Sturns (8003)
Ana Alvarado (2661)
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