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RESOLUTION NO. 2012 - 83R A RESOLUTION OF THE CITY OF SAN MARCOS, TEXAS AUTHORIZING THE MAYOR TO DESIGNATE A TARGETED EMPLOYMENT AREA ( "TEA ") IN THE CITY OF SAN MARCOS AND ITS EXTRA TERRITORIAL JURISDICTION ( "ETJ ") FOR THE PURPOSE OF ENCOURAGING FOREIGN BUSINESS INVESTMENT AND LOCAL JOB CREATION UNDER THE FEDERAL EB5 VISA PROGRAM. RECITALS: 1. The United States Congress has determined that foreign investment and job creation in the United States is desirable and necessary to support a free market economy and created the E135 Visa program to further this goal. 2. In order for a foreign national to obtain an E135 Visa the applicant must undergo a national security background check, invest at least $500,000 and create at least 10 jobs in a targeted employment area ( "TEA ") in the United States. 3. Municipalities in excess of 20,000 have been authorized by the Governor's Office to certify TEA's in accordance with 8 CFR §204.6(i). 4. The City of San Marcos has determined that a major priority is to create jobs and increase capital investment in the City of San Marcos and its Extra Territorial Jurisdiction ( "ETJ "). 5. An analysis of census tracts in the City of San Marcos and its ETJ determined that the total average unemployment in the area depicted as a TEA in Exhibit "A," attached hereto and made a part hereof, is in excess of 150 percent the national unemployment rate. 6. The Texas Investment Regional Center is submitting an application to the United States Department of Homeland Security division of Citizenship and Immigration to create a Regional Center and TEA in San Marcos and its ETJ for the E135 Visa program. 7. It is in the best interest of the City's residents and future residents to promote direct foreign investment in the community and enhance economic development and job growth in San Marcos and its Extra Territorial Jurisdiction. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The City Council hereby adopts the Recitals above as true and incorporates them as its findings in this Resolution.