Res 059-2001 5/25/2001r� -
RESOLUTION NO. a" O
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, TO NOMINATE ABB CONTROL INC. AS AN
ENTERPRISE ZONE PROJECT TO BE SUBMITTED TO THE TEXAS
DEPARTMENT OF ECONOMIC DEVELOPMENT; DETERMINING THAT
THE MEETING AT WHICH THIS RESOLUTION WAS PASSED WAS
OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the Texas Department of Economic Development (the
"Department ") designated the City of Wichita Falls East Enterprise Zone (the "Zone ") on
June 27, 1991; and
WHEREAS, The Department authorized a re- designation of the City of Wichita
Falls East Enterprise Zone by way of an agreement dated on November 19, 1998; and
WHEREAS, The Department will consider ABB Control Inc., 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 Chapter 2303, Subchapter F of the Texas Enterprise
Zone Act, Texas Government Code (the "Act "), ABB Control Inc., has applied to the
City for designation as an enterprise project; and
WHEREAS, the City finds that ABB Control Inc., meets the criteria for
designation as an enterprise project under Chapter 2303, Subchapter F of the Act on
the following grounds:
1. ABB Control Inc., is a "qualified business" under Section 2303.402 of the
Act since it will be engaged in the active conduct of trade or business in
the East 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. ABB Control Inc., is located in the East Zone which has an unemployment
rate of not less than one and one -half (1 -1/2) times the state
unemployment rate;
1, -- A"
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 ABB Control Inc., 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 ABB Control Inc. meets the criteria for tax relief
and other incentives adopted by the City and nominates ABB Control Inc., 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 interest of the City to nominate
ABB Control Inc., as an enterprise project pursuant to the Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. ABB Control Inc. is a "qualified business," as defined in Section
2303.402 of the Act, and meets the criteria for designation as an enterprise project, as
set forth in Section 2303, Subchapter F of the Act.
SECTION 2. The enterprise project shall take effect on the date of designation
of the enterprise project by The Department 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 25th day of May 2001.
"4��
AYOR
ATTEST: