HomeMy WebLinkAboutResolution 3046A RESOLUTION
NO
NOMINATING MIRAMAR DESIGNS LTD AS AN ENTERPRISE PROJECT
PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT CHAPTER 2303
OF THE TEXAS GOVERNMENT CODE
WHEREAS the Gity 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 Miramar Designs Ltd
pursuant to this Resolution following designation of Miramar Designs Ltd as an
enterprise project are substantially the same on this date as those outlined in
Ordinance No 15733 and
WHEREAS, the Office of the Governor Economic Development and Tourism
(EDC) through the Economic Development Bank (Bank) will consider Miramar
Designs Ltd as an enterprise project pursuant to a nomination and an application
made by the City and
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 in the City and to provide employment to residents of
enterprise zones and to other economically disadvantaged individuals and
WHEREAS pursuant to Chapter 2303 Subchapter F of the Texas Enterprise
Zone Act Texas Government Code (the Act") Miramar Designs Ltd has applied to
the City for designation as an enterprise project and
WHEREAS, the City finds that Miramar Designs Ltd meets the criteria for
designation as an enterprise project under Chapter 2303 Subchapter F of the Act on
the following grounds
1 Miramar Designs Ltd 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 feast thirty five percent (35 0%) 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 Miramar Designs Ltd as an enterprise project will
contribute significantly to the achievement of the plans of the City for
development and revitalization of the area and
WHEREAS the City finds that Miramar Designs Ltd meets the criteria for tax
relief and other incentives adopted by the City and nominates Miramar Designs Ltd
on the grounds that it will be located at the qualified business site will create a higher
level of economic activity and stability and
WHEREAS Miramar Designs Ltd has represented to the City that it will retain
68 full time positions 50°l° of which will be Fort Worth residents create 14 new full
time positions and commit to fill a minimum of 40% of those new full time positions
with persons who are residents of the City and
WHEREAS the City finds that it is in the best interest of the City to nominate
Miramar Designs Ltd as an enterprise project 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 and its actions approving this
Resolution are hereby approved and adopted and
2 That Miramar Designs Ltd 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
and
3 That this enterprise project shall take effect on the date of designation of
the enterprise project by the Bank and terminate five (5) years after that
date of designation
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Adopted this _ O'~ ~ ^_ day of -------_-~~~~-_ 2004
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