2014-016 - Approve nominating Potter Industries as an Enterprise Project.

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RESOLUTION NO. 2014 -016 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS NOMINATING POTTERS INDUSTRIES, LLC PROJECT TO THE OFFICE OF THE GOVERNOR FOR ECONOMIC DEVELOPMENT AND TOURISM THROUGH THE ECONOMIC DEVELOPMENT BANK FOR DESIGNATION AS A QUALIFIED BUSINESS AND ENTERPRISE PROJECT UNDER THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303, TEXAS GOVERNMENT CODE; AUTHORIZING THE CITY OF PARIS TO PARTICIPATE IN THE TEXAS ENTERPRISE ZONE PROGRAM; PROVIDING TAX INCENTIVES; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City of PARIS ( "City ") has previously passed Ordinance No. 2011 -026 electing to participate in the Texas Enterprise Zone Program, and the local incentives offered under this resolution are the same on this date as were outlined in Ordinance No. 2011 -026 approved by the City Council following a public hearing on August 8, 2011; WHEREAS, the Office of the Governor Economic Development and Tourism (EDC) through the Economic Development Bank (Bank) will consider Potters Industries, LLC as an enterprise project pursuant to a nomination and an application made by the City; 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 City and to provide employment to residents of enterprise zones and to other economically disadvantaged individuals; WHEREAS, pursuant to Chapter 2303, Subchapter F of the Texas Enterprise Zone Act, Texas Government Code (the "Act "), Potters Industries, LLC has applied to the City for designation as an enterprise project; WHEREAS, the City finds that Potters Industries, LLC meets the criteria for designation as an enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds: 1. Potters Industries, LLC 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 at a qualified business site located in an enterprise zone and at least twenty -five percent (25.0 %) of the business' new employees will be residents of an enterprise zone or economically disadvantaged individuals; and 2. There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities within the area; and 3. The designation of Potters Industries, LLC as an enterprise project will contribute significantly to the achievement of the plans of the City for development and revitalization of the area. WHEREAS, the City finds that Potters Industries, LLC meets the criteria for tax relief and other incentives adopted by the City and nominates Potters Industries, LLC. for enterprise project status on the grounds that it will be located at the qualified business site, will create a higher level of employment, economic activity and stability; and