HomeMy WebLinkAbout(0013) 210323_Oatly Fort Worth Nominating Resolution (Updated 3.16.21).PDFA Resolution
NO.
NOMINATING THE OALTY, INC. FACILITY
AT 7550 OAK GROVE ROAD
AS AN 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") previously
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, the Office of the Governor, Economic Development and Tourism (EDC), through
the Economic Development Bank (`Bank"), will consider Oatly, Inc. 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 ("Act"), Oatly, Inc. has applied to the City for designation as an enterprise
project; and
WHEREAS, the City finds Oatly, Inc., meets the criteria for designation as an enterprise project
under Chapter 2303, Subchapter F of the Act on the following grounds:
1. Oatly, 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 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;
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 Oatly, Inc., 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 Oatly, Inc., meets the criteria for tax relief and other incentives
adopted by the City and nominates Oatly, 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;
WHEREAS, the City finds that it is in the best interest of the City to nominate Oatly, Inc., as an
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 Oatly, 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 this day of 2021.
ATTEST:
By:
Mary J. Kayser, City Secretary