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HomeMy WebLinkAboutResolution 3716-03-2009A Resolution NO 3716-03-2009 CONTINUING AND EXPANDING AN ECONOMIC DEVELOPMENT PROGRAM AUTHORIZED BY CHAPTER 380 OF THE TEXAS LOCAL GOVERNMENT CODE WHEREAS, the City of Fort Worth (the `City") has established the Economic and Community Development Department to among other things, admimster programs that further the public purposes of development and diversification of the City's economy the elimination of unemployment and/or underemployment mthe City and the development and expansion of commerce m the City and WHEREAS m accordance with the 2008 Comprehensive Plan, adopted by the Crty Council pursuant to Ordinance No 17990-02 2008 on February 19 2008 and consistent with previous Comprehensive Plans, the City has committed to use custom-designed incentives and partnership programs with pnvate businesses on a case-by-case analysis of individual projects to help ensure the growth and diversification of the local economy and WHEREAS Chapter 380 of the Texas Local Government Code authorizes the governing body of a mumcipalrty to establish and provide for the administration of one or more programs for making loans and grants of public money and providing personnel and services of the mumcipahty to promote state or local economic development and to stimulate business and commercial activity m the municipality (a `Chapter 380 Economic Development Program') and WHEREAS, on January 30 2001 the City Council adopted Resolution No 2704 establishing a Chapter 380 Economic Development Program for the City pursuant to which a pnvate business or entity would be eligible to receive benefits under the Chapter 380 Economic Development Program on a case by-case basis provided that the business or entity agreed to make verifiable infrastructure improvements to real property in the City and committed to employment and other defined public benefits, and WHEREAS, the Chapter 380 Economic Development Program benefits the City by increasing the range of incentives that the City can employ to promote the City's committed economic development goals, and WHEREAS, the City Council now wishes to expand the Chapter 380 Economic Development Program to enable the City to provide benefits under the Chapter 380 Economic Development Program on a case-by-case basis to businesses or entities that make employment commitments that the City Council determines will benefit the local economy even if such businesses or entities do not make any infrastructure or other real property improvements m the City RESOLUTION NO 3716-03 2009 NOW, THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT 1 The Chapter 380 Economic Development Program established pursuant to Resolution No 2704 adopted by the Crty Council on January 30 2001 shall continue to be administered and overseen by the City's Housing and Economic Development Department. 2. Under the Chapter 380 Economic Development Program, the City Council will, on a case-by-case basis, consider but is not required to offer economic incentive packages that include monetary loans and grants of public money as well as the provision of personnel and services of the Crty to businesses and entities that the City Council determines will promote state or local economic development and stimulate business and commercial activity m the City 3. A business or entity shall be eligible to participate m the Chapter 380 Economic Development Program on terms and conditions established by the City Council on a case-by-case basis if the business or entity enters into a binding contract with the City under which (i) the business or entity is required to make specific and verifiable employment commitments and other commitments that serve the public purposes overseen by the City's Housing and Economic Development Department and that the Crty Council deems appropriate under the circumstances and (ii) the Crty is able to cease and/or recapture payment of Chapter 380 incentives or to terminate the contract m the event that the public purposes specified in the contract are not met. 4. The Chapter 380 Economic Development Program shall be m addition to existing economic development programs offered by the City This Resolution does not entitle any business or entity to the benefits of the Chapter 380 Economic Development Program or any other economic development program offered by the City 5. This Resolution shall take effect immediately from and after its adoption. Any portions of Resolution No 2704 that are m conflict with the provisions of this Resolution are hereby repealed. AND IT IS SO RESOLVED Adopted this 10th day of March, 2009 ATTEST By. ~`r t~rP .-,,. ^~1 f r' - \ APPROVEp CITY COUNCIL MAR 1 4 2009 Y~~.~ City Secretary of the City of Fort Worth, Texas ~~ ~'~ City of Fort Worth, Texas Mayor and Council Communication _: COUNCIL ACTIQN: Appr©ved on 3/10/2009 -Res. No 3716-03-2009 __. ~~.,~..~ ra ~~ ~ - ,~ DATE Tuesday March 10 2009 LOG NAME 17380AMENDMENT REFERENCE NO G-16494 SUBJECT Adopt Resolution Continuing and Expanding an Economic Development Program Authorized by Chapter 380 of the Texas Local Government Code RECOMMENDATION It is recommended that the City Council adopt the attached resolution continuing and expanding an Economic Development Program authorized by Chapter 380 of the Texas Local Government Code DISCUSSION On January 30 2001 the City Council adopted Resolution No 2704 establishing the City's current Economic Development Program (Program) under Chapter 380 of the Texas Local Government Code This Program allows the City Council to consider on acase-by-case basis offers of economic incentive packages that include monetary loans and grants of public money as well as the provision of personnel and services of the City to businesses and entities that the City Council determines will promote state or local economic development and stimulate business and commercial activity in the City As currently written the Program requires the business or entity requesting consideration for benefits to make specific and verifiable infrastructure commitments and employment commitments in order to be eligible for consideration This provision excludes from eligibility any businesses or entities that are locating their facilities in existing buildings but are not making verifiable infrastructure commitments The attached Resolution continues and expands the Program so that it may be utilized by businesses or entities that are not making specific infrastructure improvements so long as those businesses and entities make employment commitments that are acceptable to the City The City staff recommends that the City Council adopt this resolution to provide greater assistance to business that will improve the viability of the City's neighborhoods by moving into vacant or underutilized existing facilities This resolution simply governs the parameters of the Program regarding eligibility and does not entitle any business or entity to receive economic development grants authorized by Chapter 380 of the Texas Local Government Code without specific City Council approval FISCAL INFORMATION /CERTIFICATION The Financial Management Services Director certifies that this action will have no material effect on City funds Logname• 17380AMENDMENT Page 1 of 2 FUND CENTERS TO Fund/Account/Centers FROM Fund/Account/Centers CERTIFICATIONS Submitted for City Manager's Office bv: Thomas Higgins (6140) Originating Department Head. Jay Chapa (6192) Additional Information Contact: Mark Folden (8634) Logname• 17380AMENDMENT Page 2 of 2