HomeMy WebLinkAbout(0005) 200818_TTI_Inc-Nominating_Resolution_Final.PDFA Resolution
NO.
NOMINATING THE TTI, Inc.
DISTRIBUTION CENTER AT 3737 MEACHAEM BOULEVARD
AS A CONCURRENT ENTERPRISE PROJECT PURSUANT TO
THE TEXAS ENTERPRISE ZONE ACT,
CHAPTER 2303, TEXAS GOVERNMENT CODE
WHEREAS, on November 4, 2003, the City Council of the City of Fort Worth ('City") adopted
Ordinance No. 15733 electing to participate in the Texas Enterprise Zone Program;
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;
WHEREAS, on February 21, 2017 the City Council of the City adopted Resolution No. 4747-
02-2017 nominating TTI, Inc. as an enterprise project pursuant to the Act with an effective
date of March 1, 2017 and termination date of March 1, 2022;
WHEREAS, the Office of the Governor, Economic Development and Tourism (EDC), through
the Economic Development Bank ("Bank"), will consider TTI, Inc. as a concurrent 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"), TTI, Inc. has applied to the City for designation as a concurrent
enterprise project; and
WHEREAS, the City finds TTI, Inc., meets the criteria for designation as a concurrent
enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds:
1. TTI, Inc., is a "qualified business" under Section 2303.402 of the Act because 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 within an enterprise zone, and at least
twenty-five percent (25%) of the business's new 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 the TTI, Inc., distribution center 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 TTI, Inc., meets the criteria for tax relief and other incentives
adopted by the City and nominates TTI, Inc., for concurrent 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;
WHEREAS, the City finds that it is in the best interest of the City to nominate TTI, Inc., as a
concurrent enterprise project pursuant to the Act; and
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 TTI, 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 will 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 day of 2020.
ATTEST:
By:
Mary J. Kayser, City Secretary