Res 154-2000 11/21/2000RESOLUTION NO. k5u-"a«b
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, TO NOMINATE CRYOVAC, 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 North Enterprise Zone (the "Zone ")
on June 27, 1991; and
WHEREAS, The Department authorized an expansion of the City of Wichita Falls
North Enterprise Zone by way of agreements dated on November 19, 1998 and
April 17, 2000; and
WHEREAS, The Department will consider Cryovac, 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 "), Cryovac, Inc., has applied to the City for
designation as an enterprise project; and
WHEREAS, the City finds that Cryovac, Inc., meets the criteria for designation as
an enterprise project under Chapter 2303, Subchapter F of the Act on the following
grounds:
1. Cryovac, 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
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. Cryovac, Inc., is located 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
it
between public, private, and neighborhood entities within the Zone; and
4. The designation of Cryovac, 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 Cryovac, Inc. meets the criteria for tax relief and
other incentives adopted by the City and nominates Cryovac, 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
Cryovac, 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. Cryovac, 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 21St day of November 2000.
ATTEST:
City lerk
AYOR