HomeMy WebLinkAbout(0025) Bell Fort Worth IV TX EZ Tab 7 Nominating Resolution DRAFT 2021-08-12.PDFA Resolution
m
NOMINATING BELL TEXTRON INC. AT
3255 BELL FLIGHT BOULEVARD AS AN ENTERPRISE PROJECT
PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT,
CHAPTER 2303, OF THE TEXAS GOVERNMENT CODE
WHEREAS, on November 4, 2003 the City Council of the City of Fort Worth (the "City") previously adopted
Ordinance No. 15733 electing to participate in the Texas Enterprise Zone Program; and
WHEREAS, on May 12, 2015 the City Council of the City adopted Ordinance No. 21743-05-2015 amending
Ordinance No. 15733 by adding additional potential local incentives that could be made available to qualified
businesses under the Texas Enterprise Zone Program; and the local incentives available pursuant to this
Resolution are the same on this date as were outlined in Ordinance No. 21743-05-2015; and
WHEREAS, the Office of the Governor, Economic Development and Tourism (EDC), through the Economic
Development Bank ("Bank"), will consider Bell Textron Inc. 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"), Bell Textron Inc. has applied to the City for designation as an enterprise project; and
WHEREAS, the City finds Bell Textron Inc. meets the criteria for designation as an enterprise project under
Chapter 2303, Subchapter F of the Act on the following grounds:
1. Bell Textron Inc. 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 inside an enterprise zone, and at least thirty-five percent (35%) of the
business's new or retained employees will be residents of an enterprise zone, economically disadvantaged
individuals or veterans; 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 Bell Textron Inc. 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 Bell Textron Inc. meets the criteria for tax relief and other incentives adopted by
the City and nominates Bell Textron Inc. 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
ORT WORrII
kir
WHEREAS, the City finds that it is in the best interest of the City to nominate Bell Textron 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 and its actions approving this Resolution taken at the Council
meeting are hereby approved and adopted.
2. THAT Bell Textron 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 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 AND EFFECTIVE: August _, 2021.
By:
Sarah J. Fullenwider
City Attorney
ATTEST:
By:
Ronald P. Gonzales
City Secretary
ORT WORrII
kir