HomeMy WebLinkAboutResolution 1921'~~'~~
A Resolution
RESOLUTION N0. •!
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS, NOMINATING A QUALIFIED BUSINESS
FOR DESIGNATION AS AN ENTERPRISE PROJECT
WHEREAS, on August 30, 1988, the Texas Department of Commerce (the
"Department") approved the creation of the North
Enterprise Zone (the "Zone") in the City of Fort Worth
(the "City"); and
WHEREAS., the City desires to pursue the creation of a proper
economic and social environment 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
WHEREAS, pursuant to Section 10 of the Texas Enterprise Zone Act,
Texas Revised Civil Statutes, Article 5190.7 (the "Act"),
Motorola, Inc., a Delaware corporation, has applied to
the. City for designation as an enterprise project in the
Zone; and
WHEREAS, the Department will consider the designation of Motorola,
Inc., as an enterprise project pursuant to a nomination
and an application made by the City;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS:
1. The City Council finds and determines that Motorola,
Inc., meets the criteria for designation as an enterprise
project under Section 10(c) of the Act on the following
grounds:
a. Motorola, Inc., is a "qualified business" under
Section 3(a)(10) of the Act since it will be
engaged in the active conduct of a trade or
business in the Zone and at .least 25 percent of the
business' new employees will be residents of a Zone
within the City's jurisdiction or economically
disadvantaged individuals;
b. Motorola, Inc., will be located in the Zone, or has
made a substantial commitment to locate in the
CITY OF FORT WORTH
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Resolution, Continued
Zone, which has an unemployment rate of not less
than one and one-half times the state unemployment
rate;
c. Motorola, Inc., will be located entirely in the
Zone and will maintain separate books and records
of the business activity conducted in the Zone;
d. There has been and will continue to be a high level
of cooperation between public, private and
neighborhood entities within the Zone; and
e. The designation of Motorola, Inc., as an enterprise
project will contribute significantly to the
achievement of the plans of the City for
redevelopment and revitalization of the Zone.
2. The City finds and determines that Motorola, Inc., meets
the criteria for tax relief and other incentives adopted
by the City and hereby nominates Motorola, Inc., as an
enterprise project in accordance with the Act on the
grounds that it will be located wholly within the Zone,
and will create a higher level of employment, economic
activity and stability.
3. The City finds and determines that it is in the best
interest of the City to nominate Motorola, Inc., as an
enterprise project pursuant to the Act.
4. The enterprise project shall take effect on the date of
designation of the enterprise project by the Department
and shall terminate five years after the date of such
designation.
ADOPTED this 22nd day of June, 1993.
Kay G a er
Mayor
CITY OF FORT WORTH
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Resolution, Continued
-ter ~ s a. _, i .
ATTEST:
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City Secretary
I, Alice Church, City Secretary of the City of Fort Worth,
Texas, certify t t the above is a true and correct copy of
Resolution No. ~ 1 on file in my office and that I, as City
Secretary of the City of Fort Worth, have legal custody of such
resolution.
G~
Alice Ch rch, City Secretary
June 1993
APFROWED
CITY COUNCIL
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' City Socretarq of the
Citp of Fo:t YJorih.4eaas
CITY OF FORT WORTH