HomeMy WebLinkAboutResolution 2947A Resolution
NO~
NOMINATING ARROW IIOSE & TUBING, INC AS AN ENTERPRISE PROJECT
PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303,
TEXAS GOVERNMENT CODE
WHEREAS, Texas Economic Development ("Agency") designated the City of Fort
Worth Southeast Enterprise Zone (the Zone') on February 29 2000 and
WHEREAS, Agency will consider Arrow Hose & Tubing Inc as an enterprise
protect pursuant to a nomination and an application made by the City of Fort Worth, Texas
(the City") and
WHEREAS, the City desires to pursue the creation of the proper economic and
social environments in order to induce the investment of private resources in productive
business enterprises located in the Zone and to provide employment to residents of the
Zone and to other economically disadvantaged individuals and ~y};~~,,,~
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WHEREAS, pursuant to Chapter 2303 Subchapter F of t~he~`Texas.,~Enterprise Zone
Act, Texas Government Code (the Act ') Arrow Hose & T~ubang;~Inc has'~appl~i~ed to the
City for designation as an enterprise protect and ~ 1 ~~ `~,,,,..-j ~~'~~
WHEREAS, the City Council finds that Arrow Ho~.'~e ~&~T;ubmg, Inc meets the
criteria for designation as an enterprise protect under Chapter~2303 Subchapter.F of the
Act on the following grounds ~~'~``v5 ~ " .4
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1 Arrow Hose & Tubing, Inc is a qualified business"-under Section~2303 402 of
the Act since it will be engaged in the active conduct of a trade of business in
the Zone and at least twenty five percent (25 0%) of the business s new
employees will be residents of an enterprise zone within the City s turisdiction
or will be comprised of economically disadvantaged individuals and
2 Arrow Hose & Tubing, Inc is located in the Zone which has an unemployment
rate of not less than one and one half (1'/Z) times the state unemployment rate
and
3 There has been and will continue to be a high level of cooperation between
public private and neighborhood entities within the Zone and
4 The designation of Arrow Hose & Tubing, Inc as an enterprise protect will
contribute significantly to the achievement of the plans of the City for
development and revitalization of the Zone and
WHEREAS, the City finds that it is in the best interest of the City to nominate
Arrow Hose and Tubing Inc 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
2 That Arrow Hose & Tubing, 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 this enterprise project shall take effect on the date of designation of the
enterprise project by the Agency and terminate five (5) years after that date of
designation
Adopted thi~ day of - __ ___ 2003
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