HomeMy WebLinkAboutResolution 3315-02-2006RESOLUTION NO 3315-02-2006
NOMINATING OMNI FORT WORTH PARTNERSHIP, L P ("OMNI") AND ATC
LOGISTICS & ELECTRONICS, L P ("ATC") AS ENTERPRISE PROJECTS
PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303,
OF THE TEXAS GOVERNMENT CODE
WHEREAS, the City Council of the City of Fort Worth (City) previously adopted
Ordinance No 15733 under which the City elected to participate in the Texas Enterprise
Zone Program, and the local incentives available to Omni and ATC pursuant to this
Resolution following designation of Omni and ATC as enterprise projects are substantially
the same on this date as those outlined m Ordinance No 15733 and<.
WHEREAS, the Office of the Governor Economic Development and Tourism (the
`EDT") through the Economic Development Bank (the Bank) will consider Omni and
ATC as enterprise projects pursuant to a nomination and an application made by the City
and
WHEREAS the Crty desires to pursue the creation of the proper economic and
social environment m order to induce the investment of private resources in productive
business enterprises located in the City and to provide employment to residents of
enterprise zones and to other economically disadvantaged individuals and
WHEREAS, Omni would like to construct a hotel with approximately 600 guest
rooms and facilities necessary for a full service convention center headquarters hotel
which will be located m the City s downtown directly west of the Fort Worth Convention
Center (the Omni Project") having an estimated investment of $105 million and creating
approximately 500 new fobs over a five year period and
WHEREAS, ATC would like to construct a distribution center and testing/repair
facility for consumer electronics and automotive equipment m the Alliance Corridor
section of the City (the ATC Project") having an estimated investment of $6 S million
and creating approximately 300 new fobs over a five year period and
WHEREAS, pursuant to Chapter 2303 Subchapter F of the Texas Enterprise Zone
Act, Texas Government Code (the Act) Omni and ATC have applied to the City for
designation as enterprise projects and
WHEREAS, the Crty finds that Omni and ATC meet the criteria for designation as
enterprise projects under Chapter 2303 Subchapter F of the Act on the following grounds
Resolution No. 3315•Q~~ 2006
1 Omni 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 m an enterprise zone and at
least thirty five percent (35 0%) of the business s new employees will be
residents of an enterprise zone or economically disadvantaged individuals and
2 ATC 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 governing body s jurisdiction located outside of an enterprise zone
aild at least thirty five percent (35 0%) of the business s new employees will be
residents of an enterprise zone or economically disadvantaged individuals and
3 There has been and will continue to be a high level of cooperation between
public private and neighborhood entities wrthm the area, and
4 The designation of Omni and ATC as enterprise projects will contribute
significantly to the achievement of the plans of the City for development and
revitalization of the qualified business site
WHEREAS, the City finds that Omm and ATC meet the criteria for tax relief and
other incentives adopted by the City and nominates Omm and ATC on the grounds that they
will each be located at a qualified business site and will create a higher level of
employment economic activity and stability and
WHEREAS, the City finds that rt is m the best interest of the City to nominate Omm
and ATC as enterprise projects pursuant to the Act
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
1 That the findings of the City Council herein and its actions approving this
Resolution are hereby approved and adopted and
2 That Omni and ATC are each a qualified business as defined m Section
2303 402 of the Act, and meet the criteria for designation as enterprise
projects as set forth in Section 2303 Subchapter F of the Act and
3 That these enterprise projects shall take effect on the date of designation of
these enterprise projects by the Bank and terminate five (5) years after those
dates of designation
Resolution .No. 331.~_0~2006
fi ~.
Adopted this 28th day of February 2006
APPROVED AS TO FORM AND
LEGALITY
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Peter Vaky
Assistant City Attorney
^~ (1 :;~
y
Marty Hendrix ~',~
City Secretary
APPROVED
CITY COUNCIL
FEB 2 8 2006
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City Secretary of the
City of Foxt Worth, Texas