2012-072 RES AUTHORIZING CITY TO BECOME ELIGIBLE TO PARTICIPATE IN TAX ABATEMENT

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e) "Employer" means the owner or lessee of Property who provides Jobs within the Reinvestment Zone or within the Enterprise Zone, applying for tax abatement. fl"Enterprise Zone" means an area of land designated as such under Chapter 2303 of the Texas Government Code. g) "Jobs" or "a Job" as used herein means a position of full-time employment for an individual to work 32 hours or more per week for an Employer, in which position the individual is provided the benefits normally offered by the Employer, such as health insurance, vacation time and some form of retirement benefit. A Job is not a position filled for the Employer as a worker or employee of an employment agency or service. "Jobs" as used herein includes "Full- time Equivalent Jobs", as defined below. h) "Full-time Equivalent Jobs" means a number of part-time jobs where the hours worked in each such job is less than 32 hours per week, made available by one Employer and added together. For example, sixteen (16) part-time jobs made available by one Employer where all such part-time jobs added together require a total of 352 hours of work per week (but no such part-time job requires 32 hours of work or more per week), will equal eleven (11) Full-time Equivalent Jobs (352 hours divided by 32 hours per week equal 11). Full-time Equivalent Jobs do not require the employee to receive benefits from the Employer. i) "Manufacturing Facility" means buildings and structures, including fixed machinery and equipment, the purpose of which is or will be the manufacture of tangible goods or materials or the processing of such goods or materials by physical or chemical change. Facilities primarily engaged in assembling component parts of manufactured products are also considered manufacturing facilities. j) "Modernization" means the replacement and upgrading of existing facilities which increases the productive input or output, updates the technology, or substantially lowers the unit cost of operation. Modernization may result from the construction, alteration or installation of buildings, structures, fixed machinery or equipment, but shall not be for the purpose of reconditioning, refurbishing, repairing, or deferred maintenance. k) "Other Basic Industry" means buildings and structures, including fixed machinery and equipment, not elsewhere described, used, or to be used for the production of products or services which result in the creation of new Jobs and bring new wealth into the City. 1) "Personal Property" means machinery, equipment, tools, shelving or materials eligible under applicable law for tax abatement, which can be removed from an authorized facility described in Section IV (a) below.