Res 2005-174 - Laserfiche WebLink

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I I I 66. NO 2005 -174 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, NOMINATING THE CFAN EXP ANSION PROJECT IN THE CITY AS AN ENTERPRISE PROJECT UNDER THE TEXAS ENTERPRISE ZONE PROGRAM, AND DECLARING AN EFFECTIVE DATE. RECITALS 1 WHEREAS, the CIty CouncIl of the CIty of San Marcos has prevIOusly passed Ordmance No 2004-76 electmg to partIcIpate m the Texas Enterpnse Zone Program, and the local mcentIves offered under thIS resolutIOn are substantially the same on thIS date as were outlmed m Ordmance No 2004-76 2 WHEREAS, the Office of the Governor, EconomIc Development and Tounsm DIvIsIOn (the "EDC"), through the EconomIc Development Bank (the "Bank"), wIll consIder the proposed expanSIOn of the CF AN Company ("CF AN") faCIlIty m the CIty of San Marcos as an enterpnse project pursuant to a nommatIOn and applIcatIOn made by the CIty 3 WHEREAS, the CIty desIres to pursue the creatIon of the proper economIC and SOCial enVIronment m order to mduce the mvestment of pnvate resources m productIve busmess enterpnses located m the CIty and to proVIde employment to reSIdents of enterpnse zones and to other economIcally dIsadvantaged mdIvIduals. 4 WHEREAS, pursuant to Subchapter F of the Texas Enterpnse Zone Act, Texas Government Code Chapter 2303 (the "Act"), CF AN has applIed to the CIty for deSIgnatIon of CFAN's proposed faCIlIty expansIOn m the CIty (the "CFAN ExpansIOn Project") as an enterpnse project. 5 WHEREAS, the CIty finds that the CF AN ExpansIOn Project meets the cntena for deSIgnatIOn as an enterpnse project under Subchapter F of the Act on the followmg grounds A. The CFAN faCIlIty m the CIty IS a "qualIfied busmess" under SectIOn 2303402 of the Act since It WIll be engaged m the actIve conduct of a trade or busmess at a qualified busmess sIte wIthm the governmg body's jUnSdIctIOn located outsIde of an enterpnse zone and at least thIrty-five percent (35%) of the busmess' new employees wIll be reSIdents of an enterpnse zone or economically disadvantaged individuals, and B There has been and wIll contmue to be a hIgh level of cooperatIon between publIc, pnvate, and neIghborhood entitIes wIthm the area, and C The deSIgnatIOn of the CF AN ExpansIOn Project as an enterpnse project wIll contribute sIgmficantly to the achIevement of the plans of the CIty for development and reVItalIzatIon of the area.