Res 090-92 6/2/1992RESOLUTION NO.
WHEREAS, the Texas Department of Commerce ("Commerce")
designated the City of Wichita Falls East Enterprise Zone (the
Zone") on June 27, 1991, and,
WHEREAS, Commerce will consider Howmet Corporation,
Wichita Falls Refurbishment Center as an enterprise project
pursuant to a nomination and an application made by the City of
Wichita Falls, Texas (the "City") ; and,
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; and
WHEREAS, pursuant to Section 10 of the Texas Enterprise
Zone Act, Texas Revised Civil Statutes Annotated Article 5190.7
the "Act) , Howmet Corporation, Wichita Falls Refurbishment
Center has applied to the City for designation as an enterprise
project; and,
WHEREAS, the City finds that Howmet Corporation, Wichita
Falls Refurbishment Center meets the criteria for designation
as an enterprise project under Section 10 (c) of the act on the
following grounds:
1. Howmet Corporation, Wichita Falls Refurbishment
Center is a "qualified business" under Section
3 (a) (10) of the Act since it will be engaged in the
active conduct of a 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 . Howmet Corporation, Wichita Falls Refurbishment
Center 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 Howmet Corporation, Wichita Falls
Refurbishment Center 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 Howmet Corporation, Wichita
Falls Refurbishment Center meets the criteria for tax relief
and other incentives adopted by the City and nominates Howmet
Corporation, Wichita Falls Refurbishment Center on the grounds
that it will be located wholly within the Zone, 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 Howmet Corporation, Wichita Falls
Refurbishment Center as an enterprise project to the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WICHITA FALLS, TEXAS, that the findings of the City and
its actions approving this resolution taken at the council
meeting are hereby approved and adopted.
BE IT FURTHER RESOLVED that Howmet Corporation, Wichita
Falls Refurbishment Center is a "qualified business", as
defined in Section 3 (a) (10) of the Act, and meets the criteria
for designation as an enterprise project, as set forth in
Section 10 of the Act.
BE IT FURTHER RESOLVED that 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.
PASSED AND APPROVED this the 2nd day of June, 1992 .
7,
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M A 1 r R
ATTEST:
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CITY CLERK