HomeMy WebLinkAbout21-159821-1598
RESOLUTION NO.
A RESOLUTION OF THE CITY OF DENTON NOMINATING SAFRAN ELECTRICAL
COMPONENTS USA, INC., TO THE OFFICE OF THE GOVERNOR ECONOMIC
DEVELOPMENT AND TOURISM THROUGH THE ECONOMIC DEVELOPMENT BANK AS
A HALF ENTERPRISE PROJECT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Denton ("City") has previously passed Ordinance No. 2016-213,
electing to participate in the Program authorized by Chapter 2303, Subchapter 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 City amended Ordinance No. 2016-213 to revise the City's liaison for
communications and to clarify the list of possible incentives that the City may offer through
Ordinance 18-1366; and
WHEREAS, the local economic development incentives offered under this resolution and
available in the City are the same on this date as those outlined in Ordinance 2016-213, as amended
by Ordinance 18-1366; and
WHEREAS, Section 2303.406(d-1) of the Act authorizes an enterprise project designation
to be split into two half designations; and
WHEREAS, the Governor's Office of Economic Development and Tourism ("EDT")
through the Economic Development Bank ("EDB") will consider the project proposed by
SAFRAN ELECTRICAL COMPONENTS USA, INC. ("SEC USA, INC.") as a half enterprise
project pursuant to a nomination and an application made by the City; and
WHEREAS, the City desires to create the proper economic and social environment to
induce the investment of private resources in productive business enterprises located in severely
distressed areas of the City and to provide employment to residents in such areas and to other
economically disadvantaged individuals; and
WHEREAS, pursuant to the Act, SEC USA, INC. has applied to the City for designation
as an enterprise project; and
WHEREAS, the City fords that SEC USA, INC. meets the criteria for designation as an
enterprise project as required by the Act based on the following factors:
1. SEC USA, INC. is a "qualified business" under Section 2303.402 of 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 inside of an enterprise zone and at
least twenty-five percent (25.0%) of the business' new employees will be residents of
an enterprise zone, 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 SEC USA, INC. as a half 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 SEC USA, INC. meets the criteria for tax relief
and other incentives adopted by the City and nominates SEC USA, INC. for half enterprise project
status on the grounds that it will be located at the qualified business site, will create a higher level
of employment, economic activity and stability; and
WHEREAS, the City Council finds that it is in the best interest of the City to nominate
SEC USA, INC, as a half enterprise project pursuant to the Act; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES:
SECTION 1. The above recitals are adopted as findings of the City Council.
SECTION 2. The City Council nominates SEC USA, INC., to the EDT, through the EDB,
as a half enterprise project that shall take effect on the date of designation of the enterprise project
by the EDT and terminate five (5) years after the date of designation.
SECTION 3. SEC USA, INC., is a "qualified business", as defined in Section 2303.402 of
the Act, and meets the criteria for designation as a half enterprise project, as set forth in Section
2303, Subchapter F of the Act.
SECTION 4. This resolution shall become effective immediately upon its passage and
approval.
The motion to approve this resolution was made by -5jsn-p- � ,4 , S and
seconded by (-��r\;Scn Mck,!�o;Cgz_ , the resolution was passed and approved by
the following vote [ -? - 0 1
Aye Nay Abstain Absent
Gerard Hudspeth, Mayor:
Vicki Byrd, District 1: ,/
Brian Beck, District 2:
Jesse Davis, District 3:
Alison Maguire, District 4:
Deb Armintor, At Large Place 5: ✓
Paul Meltzer, At Large Place 6:
PASSED AND ADOPTED this the t gl=day of SgQk n\ 2021.
GERARD HUDSPETH, MAYOR
ATTEST:
ROSA RIOS, CITY SECRETARY
,`ice ,�`i •......DF4,l i
BY:
APPROVED AS TO LEGAL FORM: a
CATHERINE CLIFTON, INTERIM CITY TORNEY �i� �I 'p l! it t ` ,
Digitally 9 SY
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BY:�i Date: 2021.09.10 09:09:08
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