1999-017-TURNER INTERNATIONAL PIPING SYSTEMS , SEC 2303.402 TEXAS ENTERPRISE ZONE ACT

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RESOLUTION NO. 99-017 WHEREAS, the Texas Department of Economic Development (the "Department") designated the City of Paris Enterprise Zone (the "Zone") on November 13, 1997; and, WHEREAS, the Department will consider Turner International Piping Systems, Inc. ("Turner") as an enterprise project pursuant to a nomination and an application made by the City of Paris, Paris, Texas (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 Zone and to provide employment to residents of the Zone 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"), Turner has applied to the City for designation as an enterprise project; and, WHEREAS, the City fmds that Turner meets the criteria for designation as an enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds: I. Turner 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 in the Zone and at least twenty-five percent (25%) of the business' new employees will be residents of a Zone within the City's jurisdiction or economically disadvantaged individuals; 2. Turner is located in the Zone, or has made a substantial commitment to locate in the Zone, which has an unemployment rate of not less than one and one-half (1-1/2) times the state unemployment rate; 3. There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities within the Zone; and 4. The designation of Turner as an enterprise project will contribute significantly to the achievement of the plans of the City for development and revitalization of the Zone; and, WHEREAS, the City finds that Turner meets the criteria for tax relief and other incentives adopted by the City and nominates Turner on the grounds that it will be located wholly within the Zone and will create a higher level of employment, economic activity, and stability; and, WHEREAS, the City fmds that it is in the best interest of the City to nominate Turner as an enterprise project pursuant to the Act; NOW, THEREFORE,