2011-115ORDINANCE NO. 2011-115
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS,
ORDAINING THE CITY'S PARTICIPATION IN THE TEXAS ENTERPRISE ZONE
PROGRAM PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303,
TEXAS GOVERNMENT CODE (ACT), PROVIDING TAX INCENTIVES, DESIGNATING A
LIAISON FOR COMMUNICATION WITH INTERESTED PARTIES, AND NOMINATING
TARGET CORPORATION TO THE OFFICE OF THE GOVERNOR ECONOMIC
DEVELOPMENT & TOURISM (EDT) THROUGH THE ECONOMIC DEVELOPMENT
BANK (BANK) AS AN ENTERPRISE PROJECT (PROJECT); ESTABLISHING THE
BOUNDARIES OF SAID ZONE, AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Denton, Texas 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 of such area; and
WHEREAS, the project or activity is located within the proposed enterprise zone; and
WHEREAS, pursuant to Chapter 2303, Subchapter F of the Act, Target Corporation has
applied to the City for designation as an enterprise project; and
WHEREAS, the City finds that Target Corporation meets the criteria for tax relief and
other incentives adopted by the City 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, a public hearing to consider this ordinance was held by the City Council at
or after 6:30 p.m. on July 19, 2011 in the City Council Chambers of the City of Denton at 215
East McKinney Street in the City of Denton, such date being at least seven days after the date of
publication of notice of such public hearing NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City nominates Target Corporation for an enterprise project.
SECTION 2. The following local incentives, at the election of the governing body, are or
will be made available to the nominated project or activity of the qualified business:
a) The City may abate taxes on the increase in value of real property improvements
and eligible personal property that locate in a designated enterprise zone. A
minimum of $5 million capital investment is required to apply. The extent to
which the business receives the abatement depends upon the history and
philosophy of the firm, project specifications, and the potential impact on the
community. The City may offer the following incentives for businesses meeting
the applicable requirements: reduced electrical utility rates, reduced infrastructure
costs, grants based on new sales tax or ad valorem tax revenues generated by a
company or development, triple freeport tax exemption, and industrial revenue
bonds.
b) The City may provide regulatory relief to businesses, including:
1) zoning changes or variances;
2) streamlined permitting.
C) The City may provide enhanced municipal services to businesses, including:
1) improved police and fire protection;
2) institution of community crime prevention programs; or
3) special public transportation routes or reduced fares.
d) The City may provide improvements in community facilities, including:
1) capital improvements in water and sewer facilities;
e) The City may provide improvements to housing, including:
1) low-interest loans for housing rehabilitation, improvement, or new
construction; or
2) transfer of abandoned housing to individuals or community groups.
f) The City may provide business and industrial development services, including:
1) provision of publicly owned land for development purposes, including
residential, commercial, or industrial development;
2) creation of special one-stop permitting and problem resolution centers or
ombudsmen; or
3) promotion and marketing services.
SECTION 3. The enterprise zone areas within the City are reinvestment zones in
accordance with the Texas Tax Code, Chapter 312.
SECTION 4. The City of Denton City Council directs and designates City Economic
Development Director Linda Ratliff as the City's liaison to communicate and negotiate with the
EDT through the Bank and enterprise project(s) and to oversee zone activities and
communications with qualified businesses and other entities in an enterprise zone or affected by
an enterprise project.
SECTION 5. The City finds that Target Corporation meets the criteria for designation as
an enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds:
a) Target Corporation is a "qualified business" under Section 2303.402 of the Act
since it will be engaged in the active conduct of a trade or business at a qualified
business site located in an enterprise zone in the governing body's jurisdiction and
Page 2
at least twenty-five percent (25%) of the business' new employees will be
residents of an Enterprise Zone or economically disadvantaged individuals.
b) The property included within the boundaries of the proposed Target Corporation
Enterprise Zone represents the company's 48-acre acre distribution center site on
Airport and Corbin Roads as defined in Exhibit "A" and shown on Exhibit "B".
SECTION 6. The enterprise project shall take effect on the date of designation of the
enterprise project by EDT on September 1, 2011 and terminate on September 1, 2016.
SECTION 7. This ordinance shall take effect from and after its passage as the law and
charter in such case provides.
PASSED AND APPROVED this the
~q - day of , 2011.
MARK BURROUGHS, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY: L~=2 b )41~tu~
AP OVED S TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY:
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