HomeMy WebLinkAbout(0116) 380 Policy Amd 1.5-28-20.clean.PDFA Resolution
NO.
AMENDING ECONOMIC DEVELOPMENT PROGRAM ADOPTED
PURSUANT TO RESOLUTION NO.5039-01-2019, AS AUTHORIZED BY
CHAPTER 380, TEXAS LOCAL GOVERNMENT CODE
WHEREAS, the City of Fort Worth (the "City") has established the Economic Development
Department to, among other things, administer programs that further the public purposes of development
and diversification of the City's economy, the elimination of unemployment and/or underemployment in
the City, and the development and expansion of commerce in the City; and
WHEREAS, in accordance with the 2018 Comprehensive Plan, adopted by the City Council
pursuant to Ordinance No. 23133-03-2018, and consistent with previous Comprehensive Plans, the City
has committed to use custom -designed incentives and partnership programs with private businesses on
a case -by -case analysis of individual projects to help ensure the growth and diversification of the local
economy; and
WHEREAS, Chapter 380 of the Texas Local Government Code authorizes the governing body
of a municipality to establish and provide for the administration of one or more programs for making loans
and grants of public money and providing personnel and services of the municipality to promote state or
local economic development and to stimulate business and commercial activity in the municipality (a
"Chapter 380 Economic Development Program"); and
WHEREAS, on January 29, 2019 the City Council adopted Resolution No. 5039-01-2019 a
Chapter 380 Economic Development Program, with guidelines and eligibility criteria governing receipt
of certain economic development loans and grants made by the City; and
WHEREAS, the City Council wishes to amend Section 6 of the Chapter 380 Economic
Development Program adopted pursuant to Resolution No. 5039-01-2019 that relate to the eligibility
requirements for research and development projects to revise the maximum applicable grant period under
the Program, to amend limitations on the percentage of taxes from the subject property that may be
represented by an annual grant, to add certain limitations regarding the zoning of subject property under
an assignment, and to make certain clerical revisions;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS:
THAT Section 6 of the Chapter 380 Economic Development Program established pursuant to
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Resolution No. 5039-01-2019, is hereby amended as set forth in Exhibit "A", attached hereto.
ADOPTED this day of June 2020.
ATTEST:
By:
Mary J. Kayser, City Secretary
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