HomeMy WebLinkAboutResolution 4063-02-2012A Resolution
NO. 4063 -02 -2012
NOMINATING FTS INTERNATIONAL SERVICES, LLC AS AN ENTERPRISE
PROJECT PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303,
OF THE TEXAS GOVERNMENT CODE
WHEREAS, the City Council of the City of Fort Worth the "City" has previously passed Ordinance No. 15733
electing to participate in the Texas Enterprise Zone Program, and the local incentives offered under this
Resolution are the same on this date as were outlined in Ordinance No. 15733;
WHEREAS, the Office of the Governor Economic Development and Tourism through the Economic
Development Bank "Bank" will consider FTS International Services, LLC as an enterprise project pursuant to a
nomination and an application made by the City;
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;
WHEREAS, pursuant to Chapter 2303, Subchapter F of the Texas Enterprise Zone Act, Texas Government Code
(the "Act "), FTS International Services, LLC, has applied to the City for designation as an enterprise project;
WHEREAS, the City finds that FTS International Services, LLC meets the criteria for designation as an
enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds:
1. FTS International Services, LLC 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 least thirty -five percent (35 %)
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 FTS International Services, LLC as an enterprise project will contribute
significantly to the achievement of the plans of the City for development and revitalization of the area;
WHEREAS, the City finds that FTS International Services, LLC meets the criteria for tax relief and other
incentives adopted by the City and nominates FTS International Services, LLC for enterprise project status on the
grounds that it is located at the qualified business site and will create a higher level of employment, economic
activity and stability in the area; and
FoRT yob
No. 4
WHEREAS, the City finds that it is in the best interest of the City to nominate FTS International Services, LLC
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 and its actions approving this Resolution taken at the Council
meeting are hereby approved and adopted.
2. That FTS International Services, LLC 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 the enterprise project shall take effect on the date of designation of the enterprise project by
the Bank and terminate five (5) years after the date of designation.
Adopted this 21 S` day of February 2012.
ATTEST:
By:
Mary J. Kayser, i S retary
ORT WORTH
i.!a
ORT WORT
Frac Tech Services, LLC
4601 Gold Spike Drive
Fort Worth, Texas 76106
I ti
+ k
J
n�rlrrrsr - ^„ It t V
_ � h
r
• 1tln i,
-- _ M �MAAC
i
.� SA
i�
TERMINAI
LL
-
i
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 2/21/2012 - Resolution No. 4063 -02 -2012
DATE: Tuesday, February 21, 2012
LOG NAME: 17FRACTECH -EZ -RES
SUBJECT:
REFERENCE NO.: * *G -17520
Adopt Resolution Nominating FTS International Services, LLC, as an Enterprise Project, Pursuant to the
Texas Enterprise Zone Act, Chapter 2303, of the Texas Government Code (COUNCIL DISTRICT 2)
RECOMMENDATION:
It is recommended that the City Council adopt the attached Resolution nominating FTS International
Services, LLC, as an Enterprise Project, pursuant to Chapter 2303, of the Texas Government Code.
DISCUSSION:
The City Council of the City of Fort Worth (City) has previously passed Ordinance No. 15733 electing to
participate in the Texas Enterprise Zone Program. The Office of the Governor Economic Development and
Tourism through the Economic Development Bank will consider FTS International Services, LLC, as an
Enterprise Project, pursuant to a nomination and an application made by the City.
The City finds that FTS International Services, LLC, meets the criteria for designation as an Enterprise
Project under Chapter 2303, Subchapter F of the Act on the following grounds:
1. FTS International Services, LLC, 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 least 35 percent of the
business' new employees will be residents of an enterprise zone or economically disadvantaged
individuals;
2. There has been and will continue to be a high level of cooperation between public, private and
neighborhood entities within the area;
3. The designation of FTS International Services, LLC, as an Enterprise Project will contribute
significantly to the achievement of the plans of the City for development and revitalization of the
area.
FTS International Services, LLC, is located at 4601 Gold Spike Drive. The company occupies a 559,000
square foot facility used for industrial pump manufacturing.
This project is located in COUNCIL DISTRICT 2.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
Logname: 17FRACTECH -EZ -RES Page 1 of 2
FUND CENTERS:
TO Fu nd/Accou nt/C enters
CERTIFICATIONS:
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
Logname: 17FRACTECH- EZ -RES
FROM Fund /Account/Centers
Fernando Costa (6122)
Jay Chapa (5804)
Robert Sturns (8003)
Page 2 of 2