06-A K-C Nom Enterprise Project - Laserfiche WebLink

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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. Section 6. That the City finds that Kimberly-Clark meets the criteria for tax relief and other incentives adopted by the City and that Kimberly-Clark 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 Kimberly- Clark, the nominated project, are identified and summarized briefly in the attached Exhibit B. Section 7. That upon approval of the Bank, the Double Jumbo Enterprise Project will be named KIMBERLY-CLARK CORPORATION PROJECT ("Project"). Section 8. That 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. Kimberly-Clark and the City request that the Bank approve December 1, 2005, as the beginning date and December 1, 2010, as the ending date of the Project. Section 9. That the enterprise zone areas within the City are reinvestment zones in accordance with the Texas Tax Code, Chapter 312. Section 10. That the Paris areas that meet the 2003 requirements in Section 2303.101 of the Act for automatic qualification for designation as an enterprise zone are shown in the attached Exhibit C. Section 11. That this ordinance shall be effective following passage and publication as required by law. PASSED, APPROVED, AND ADOPTED this 10th day of October, 2005. Curtis Fendley, Mayor T I