Res 142-95 8/15/1995RESOLUTION NO. 111 � ' -q J-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, TO NOMINATE HOTEL ASSOCIATES, INC. D.B.A.
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 Hotel Associates, Inc. d.b.a. 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 "), Hotel Associates, Inc. d.b.a. Holiday Inn has applied to the City for designation as an
enterprise project;
WHEREAS, the City finds that Hotel Associates, Inc. d.b.a. Holiday Inn of Wichita Falls meets
the criteria for designation as an enterprise project under Chapter 2303 of the Act on the following
grounds:
Hotel Associates, Inc. d.b.a. 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. Hotel Associates, Inc. d.b.a. 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 (I -1 /2) times the state unemployment rate;
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 Hotel Associates, Inc. d.b.a. 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 Hotel Associates, Inc. d.b.a. Holiday Inn of Wichita Falls meets
the criteria for tax relief and other incentives adopted by the City and nominates Hotel Associates, Inc.
d.b.a. 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 Hotel Associates,
Inc. d.b.a. 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. Hotel Associates, Inc. d.b.a. Holiday Inn of Wichita Falls is a "qualified business,"
as defined in Section 2303.401 (a) of the 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 15th day of August, 1995.
M A Y O R
ATTEST:
i
CI LERK