HomeMy WebLinkAbout24-2259ORDINANCE NO. 24-2259
AN ORDINANCE APPROVING AN ECONOMIC DEVELOPMENT AGREEMENT UNDER
CHAPTER 380 OF THE LOCAL GOVERNMENT CODE TO PROMOTE ECONOMIC
DEVELOPMENT AND TO STIMULATE BUSINESS ACTIVITY AND ECONOMIC
GROWTH OF THE CITY OF DENTON BETWEEN THE CITY OF DENTON AND
ENGINETECH NORTH AMERICA CORPORATION, REGARDING THE EXPANSION OF
OPERATIONS AND INCREASE IN THE NUMBER OF JOBS IN THE CITY OF DENTON;
AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, on August 27, 2024, Enginetech North America Corporation (the
“Applicant”) submitted an application to the City of Denton (“City”) for economic development
incentives under Chapter 380 of the Texas Local Government Code for a headquarters and job-
based grant to expand its business and increase the number of high-wage or knowledge-based jobs
in the city (the “Grant Application”); and
WHEREAS, the Grant Application was reviewed and an economic development incentive
was subsequently recommended by the Economic Development Partnership Board on November
13, 2024, as compliant with the City of Denton’s Chapter 380 Incentive Policy (Resolution No.
20-504, as adopted, on March 17, 2020) and the City Council hereby also finds compliance
therewith; and
WHEREAS, City and the Applicant have negotiated a Chapter 380 Economic
Development Agreement to reflect the terms of the incentive, a copy of which is attached hereto
and made a part hereof by reference (the “Agreement”); and
WHEREAS, the City Council of the City of Denton hereby finds that the proposed
purposes and considerations provided for in the Grant Application and the Agreement, and the
other terms and conditions of the Agreement, will promote economic development, increase
employment, and stimulate business and commercial activity within the City of Denton for the
benefit of the public and therefore meet the requirements under Chapter 380 of the Texas Local
Government Code; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS:
SECTION 1. The recitals contained in the preamble of this Ordinance are found to be true
and are incorporated into the body of this Ordinance.
SECTION 2. The City Manager, or their designee, is hereby authorized to execute the
Agreement attached hereto on behalf of the City of Denton and to carry out the City’s
responsibilities and rights under the Agreement, including without limitation the authorization to
make the expenditures set forth in the Agreement.
SECTION 3. This Ordinance shall become effective immediately upon its passage and
approval.
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The motion to approve this Ordinance was made by Gerard Hudspeth and seconded by
Brandon Chase McGee, the Ordinance was passed and approved by the following vote [7 - 0]:
Aye
X
X
X
X
X
X
X
Nay Abstain Absent
Gerard Hudspeth, Mayor:
Vicki Byrd, District 1 :
Brian Beck. District 2:
Paul Meltzer. District 3 :
Joe Holland. District 4:
Brandon Chase McGee, At Large Place 5 :
Jill Jester, At Large Place 6:
PASSED AND APPROVED this the 3rd day of December, 2024.
£kayOR
ATTEST:
LAUREN THODEN, CITY SECRETARY
APPROVED AS TO LEGAL FORM:
MACK REINWAND, CITY ATTORNEY
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