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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Presented By: <br />Agenda Item No.: <br />08/O 1 /2011 <br />Council Date: <br />Legal <br />W. Kent McIlyar <br />13. <br />08/08/2011 <br />RECOMMENDED MOTION: <br />Public hearing and first reading. <br />POLICY ISSUE(S): <br />Economic Development. <br />BACKGROUND: <br />City Council is being asked to consider possible action on an ordinance nominating Kimberly-Clark <br />Corporation as a Jumbo Enterprise Project to the State of Texas. Participation in the Texas Enterprise <br />Zone Program is possible because KC plans to invest in and upgrade its facility, invest more than <br />$150,000,000, and retain at least 500 existing jobs at the Paris plant. <br />A company that qualifies as a State Enterprise Project qualifies for reimbursement of the sales and use <br />tax paid as a part of the business expansion. The designation is for a five year period. <br />BOARD/COMMISSION RECOMMENDATION: <br />EXHIBITS: <br />Ordinance <br />ACTION: <br />BUDGET INFO: <br />❑ Financial Report ❑ Minute Order <br />Expense <br />$ <br />❑ Department Report ❑ Resolution <br />Budgeted Amt. <br />$ <br />❑ Presentation ~ Ordinance <br />bli <br />Z P <br />H <br />i <br />y'I'D Actual <br />$ <br />u <br />c <br />ear <br />ng ❑ Other <br />Acct. Name <br />Acct. Number <br />FISCAL NOTES: <br />REVIEWED AND APPROVED BY: <br />Z Administration Z City Clerk ❑ Community Development ❑ EMS/IT ❑ Finance ❑ Fite <br />❑ Municipal Court Z Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities <br />City of Paris Revised 2/04/08 <br />_ ` 114 <br />