HomeMy WebLinkAboutR2017-020SALega1\0Ur r.)ocurnents\RcsolLitions\17\Mayday,docx
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DENTON NOMINATING
MAYDAY MANUFACTURING CO., TO THE OFFICE OF THE GOVERNOR, ECONOMIC
DEVELOPMENT AND TOURISM ("OOGEDT"), THROUGH THE ECONOMIC
DEVELOPMENT BANK ("THE BANK"), AS AN ENTERPRISE PROJECT ("PROJECT");
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WHEREAS, the City of Denton City Council (City) has previously passed Ordinance No.
2016-213 electing to participate in the Texas Enterprise Zone Program (Program) authorized by
Chapter 2303, Subehapter F of the Texas Enterprise Zone Act, Texas Government Code (Act), and
the local economic development incentives available in the City are the same on this date as those
outlined in Ordinance 2016-213; and
WHEREAS, the Governor's Office of Economic Development and Tourism through the
Economic Development Bank will consider the project proposed by Mayday Manufacturing Co.
(Mayday, as an enterprise project pursuant to a nomination and an application made by the City;
and
WHEREAS, the project is located in an area designated as an enterprise zone; and the City
resources in productive business enterprises located in severely distressed areas of the city, and to
provide employment to residents in such areas; and
WHEREAS, pursuant to the Act, Mayday has applied to the City for designation as an
project as required by the Act based on the following factors:
I . Mayday is a qualified business under the Act, because it will be engaged in the
active conduct of a trade or business at a qualified business site within the
governing body's jurisdiction located outside of an enterprise zone and at least
thirty-five percent (35%) of the business' new employees will be residents of an
enterprise zone or economically disadvantaged individuals, or veterans; and
2. There has been and will continue to be a high level of cooperation between the
public, private, and neighborhood entities in the area; and
3. The designation of Mayday as an enterprise project will contribute significantly to
the achievement of the plans of the City for development and revitalization of the
area.
WHEREAS, the City Council finds that it is in the best interest of the City to nominate
Mayday as an enterprise project pursuant to the Act; NOW, THEREFORE,
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SALegal\Our Documents\Resolutions\17\Mayday.doex
SECTION 2. The City Council nominates Mayday Manufacturing Co., to the Governor's
Office of Economic Development and Tourism Division, through the Economic Development
Bank, as an enterprise project that shall take effect on the date of designation of the enterprise
project by the Governor's Office of Economic Development and Tourism Division and terminate
five (5) years after the date of designation.
SECTION_ 3. This resolution shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the day of 2017,
CHRIS WATTS, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY:
AARON LEAL, INTERIM CITY ATTORNEY