2005-055-ORD AUTHORIZING COP TO PARTICIPATE IN TEXAS ENTERPRISE ZONE PROGRAM UNDER TEXAS ENTERPRISE ZONE ACT CHAPTER 2303

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Section 1. That the findings set out in the preamble to this ordinance are hereby in all things approved. Section 2. That as required by Section 2303.4051 (b) ofthe Act, the City's local incentives available in each area within an enterprise zone and in each area not in an enterprise zone are identified and summarized briefly in the attached Exhibit A; and at least one ofthe local incentives is unique to the enterprise zone area. The City is in full compliance with the Act. Section 3~ That the City finds that KIMBERLY-CLARK CORPORATION. ("Kimberly- Clark"), or its successor in interest, meets the criteria for designation as an enterprise project under the Act on the following grounds: (a) Kimberly-Clark is a "qualified business" under Section 2303.402 of the Act because it is engaged in the active conduct of a trade or business at a qualified business site and at least thirty-five (35%) percent of its new employees at the qualified business site will be residents of an enterprise zone in this state or economically disadvantaged individuals; (b) The Kimberly-Clark project is qualified under Section 2303.404 of the Act because (I) it involves "an expansion, renovation, or new construction"; (2) it will be completed within a predetermined period not to exceed five years; and (3) Kimberly- Clark maintains separate books and records for the Paris manufacturing operations; (c) There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities within the jurisdiction of the City; (d) The designation of Kimberly-Clark as an enterprise project will contribute significantly to the achievement of the plans of the City for development and revitalization of the area in which the enterprise project will be located; and (e) Kimberly-Clark qualifies for job retention benefits under Section 2303.406(a)( 4)(D) because Kimberly-Clark expects a ten percent (I 0%) increase in production capacity. Section 4. That Kimberly-Clark qualifies as a Double Jumbo Enterprise Project as defined in Section 2303.407 (b) (6) and Section 2303.407 (d) of the Act because Kimberly-Clark will be making a capital investment in a project in excess of $150,000,000. The City finds that it is in the best interest of the City to nominate Kimberly-Clark as a Double Jumbo Enterprise Project under the Act. Section 5. That the City nominates Kimberly-Clark as a Double Jumbo Enterprise Project under the Act and designates the City Community Development Director or her designee as liaison to oversee enterprise projects nominated by the City and to perform the other duties described in Section 2303.204 of the Act. The City authorizes the City Community Development Director or her designee to file an application requesting designation of Kimberly-Clark as a Double Jumbo Enterprise Project with the Bank, and to execute all documents and agreements necessary to process the application. Further, the City directs the City Community Development Director or her designee to submit to the Bank the information required by section 2303.4052 of the Act.