2011-035 ORD AUTHORIZING CITY OF PARIS TO PARTICIPATE IN TX ENTERPRISE ZONE PROGRAM

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Section 3. The City finds that Essent PRMC, LP, Northward Bound Project ("Essent PRMC, LP Northward Bound"), meets the criteria for designation as an enterprise project under the Act on the following grounds: (a) Essent PRMC, LP 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 twenty-five percent (25%) of its new employees at the qualified business site will be residents of an enterprise zone in this state or are economically disadvantaged individuals; (b)The Essent PRMC, LP Northward Bound project is qualified under Section 2303.404 of the Act because (1) it involves "an expansion, renovation, or new construction"; (2) it will be completed within a predetermined period not to exceed five years; and (3) Paris Regional Medical Center is a wholly owned subsidiary of Essent Healthcare, Inc. for which separate books and records are kept; (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 Essent PRMC, LP Northward Bound 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 Section 4. The City Council of the City of Paris hereby nominates Essent PRMC, LP, to be known as Northward Bound as an Enterprise Project under the Act and designates the City's Director of Engineering, Planning & Community Development as liaison to oversee enterprise projects nominated by the City and to perform the other duties described in Section 2303.204 of the Act (hereinafter "Director"). The City authorizes the Director to file an application requesting designation of Essent PRMC, LP Northward Bound as an Enterprise Project with the Bank, and to execute all documents and agreements necessary to process the application. Further, the City directs the Director or his designee to submit to the Bank the information required by section 2303.4052 of the Act. Section 5. The City finds that Essent PRMC, LP Northward Bound meets the criteria for tax relief and other incentives adopted by the City and that Essent PRMC, LP Northward Bound will be located wholly within the qualified business site and will retain jobs and increase economic activity and stability. As required by Section 2303.4051(c)(2) of the Act, the City's local incentives, including tax incentives, that at the election of the City Council, are or will be made available to Essent PRMC, LP Northward Bound, the nominated project, are identified and summarized in the attached Exhibit "B". Section 6. Upon approval by the Bank, the Enterprise Project will be named Essent PRMC, LP Northward Bound Project ("Project"). Section 7. The Enterprise Project designation must be for a predetermined designation period approved by the Bank, with a beginning date and ending date for the Project; and the designation period for the Project may not exceed five (5) years from the date on which the designation is made, as required by Section 2303.404 of the Act. Essent PRMC, LP Northward Bound and the City request that the Bank approve August 22, 2011, as the beginning date and August 21, 2012, as the ending date of the Project. -N