Res 085-95 6/20/1995RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, TO NOMINATE HOLIDAY INN OF WICHITA FALLS AS
AN ENTERPRISE ZONE PROJECT TO BE SUBMITTED TO THE TEXAS
DEPARTMENT OF COMMERCE; FINDING AND DETERMINING THAT
THE MEETING AT WHICH THIS RESOLUTION WAS PASSED WAS OPEN
TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the Texas Department of Commerce ( "Commerce ") designated the City of Wichita
Falls North Enterprise Zone (the "Zone ") on June 27, 1991;
WHEREAS, Commerce will consider Holiday Inn of Wichita Falls as an enterprise project
pursuant to a nomination and an application made by the City of Wichita Falls, Texas (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
Zone and to provide employment to residents of the Zone and to other economically disadvantaged
individuals;
WHEREAS, pursuant to Chapter 2303, the Texas Enterprise Zone Act, Texas Government Code
(the "Act "), Holiday Inn has applied to the City for designation as an enterprise project;
WHEREAS, the City finds that Holiday Inn of Wichita Falls meets the criteria for designation as
an enterprise project under Chapter 2303 of the Act on the following grounds:
1. Holiday Inn of Wichita Falls is a "qualified business" under Section 2303.401 (a) of the
Act since it will be engaged in the active conduct of trade or business in the Zone and at
least twenty -five percent (25 %) of the business' new employees will be residents of a
Zone within the City's jurisdiction or economically disadvantaged individuals;
2. Holiday Inn of Wichita Falls is located in the Zone, or has made a substantial
commitment to locate in the Zone, which has an unemployment rate of not less than one
and one -half (1 -1/2) times the state unemployment rate;
3. There has been and will continue to be a high level of cooperation between public,
private, and neighborhood entities within the Zone; and
4. The designation of Holiday Inn of Wichita Falls as an enterprise project will contribute
significantly to the achievement of the plans of the City for development and
revitalization of the Zone;
WHEREAS, the City finds that Holiday Inn of Wichita Falls meets the criteria for tax relief and
other incentives adopted by the City and nominates Holiday Inn of Wichita Falls on the grounds that it
will be located wholly within the Zone and it will create a higher level of employment, economic
activity and stability; and
WHEREAS, the City finds that it is in the best interests of the City to nominate Holiday Inn of
Wichita Falls as an enterprise project pursuant to the Act.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS:
SECTION I. Holiday Inn of Wichita Falls is a "qualified business," as defined in Section
2303.401 (a) of Te Act, and meets the criteria for designation as an enterprise project, as set forth in
Section 10 of the Act.
SECTION 2. The enterprise project shall take effect on the date of designation of the enterprise
project by Commerce and terminate five (5) years after that date of designation.
SECTION 3. It is hereby officially found and determined that the meeting at which this
Resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 20th day of June, 191,
ATTEST:
bty T RK