HomeMy WebLinkAboutResolution 2660A Resolution
Resolution No ~ 66 ~
A RESOLUTION 1VOMINATING VALEO ELECTRICAL SYSTEMS, INC AS AN ENTERPRISE
PROJECT PURSUANT TO CHAPTER 2303 SUBCHAPTER F OF THE TEXAS ENTERPRISE ZONE
ACT TEXAS GOVERNMENT CODE.
WHEREAS, the Texas Department of Economic Development ("Department") designated the City of
Fort Worth North Enterprise Zone (the `Zone ') on May 27 1997 and
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 m the Zone
and to provide employment to residents of the Zone 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"), Valeo Electrical Systems, Inc has applied to the City for designation as an
enterprise project; and,
WHEREAS, Department will consider Valeo Electrical Systems, Inc which is located within the Zone as
an enterprise project pursuant to a nomination and an application made by the City of Fort Worth, Texas
(the `City") and
WHEREAS, the City finds that Valeo Electrical Systems, Inc meets the criteria for designation as an
enterprise project under Chapter 2303 Subchapter F of the Act on the following grounds.
Valeo Electrical Systems, Inc is a qualified business" under Section 2303 402 of the Act
since rt will be engaged m the active conduct of a trade or business m the Zone and at least
twenty five percent (25 0%) of the business s new employees will be residents of a Zone
within the City's ~unsdiction or economically disadvantaged individuals, as defined by the
Act;
2. Valeo Electrical Systems, Inc is located m the Zone which has an unemployment rate of not
less than one and one half (1'/2) times the state unemployment rate;
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 Valeo Electrical Systems, Inc as an enterprise project 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 the best interest of the City to nominate Valeo Electrical Systems,
Inc as an enterprise project pursuant to the Act;
CITY OF FORT WORTH
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH.
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 Valeo Electrical Systems, Inc is a qualified business" as defined m Section
2303 402 of the Act, and meets the criteria for designation as an enterprise project, as set
forth m Section 2303 Subchapter F of the Act.
3 That the City Manager or his designee is authorized to make application to the Department
for designation of Valeo Electrical Systems, Inc as an enterprise project.
4 That the enterprise project shall take effect on the date of designation of the enterprise
project by the Department and terminate five (5) years after that date of designation.
PASSED BY THE CITY COUNCIL of the City of Fort Worth this 22"d day of August, 2000
THE STATE OF TEXAS
COUNTY OF TARRANT
Kenneth Barr
Mayor
BEFORE ME, the undersigned authority on this day personally appeared ~~ /of the
City of Fort Worth., Texas, known to me to be the person whose name is subscribed to the foregoing
instrument, and acknowledged to me that he/she executed the same for the purposes and consideration
therein expressed.
GIVEN under my hand and seal of office this ~ day of August, 2000
r..
~~r~ GLORIA PEARSON+.:
Notary P~fik
~~~' STATE OF TEXAS
Notary Public, tate of Texas
THE STATE OF TEXAS ~ ''~~~ My Comm Exp. 04/O2/2002~`
COUNTY OF TARRANT ,"""'"~"'..""'""""'.~''.a°:.....:.~,.:..:`.
I, yeti of the City of Fort Worth, Texas do hereby
certify that he above and foregom s a true and c ect copy of Resolution Number ~~(Q(aQ passed by
the City of Fort Worth City Council on the 22"a day of August, 2000
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AUG 22 2000
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~tp ~cr~eeary of the
~3 FoSe ~«lort3a, °Texas
CITY OF FORT WORTH
Gloria earson
City Secretary