From
Cathy DiMaggio
Title
Amend Resolution 4915-2017 to correct the name of Flex-N-Gate to Flex-N-Gate Texas LLC and declaring Flex-N-Gate Texas LLC as a Qualified Business for designation as an Enterprise Project
Presenter
Marty Wieder, Economic Development Director
Recommended Action
Approve
Analysis
On November 7, 2017 the City Council adopted Resolution 4915-2017 which delcared Flex-N-Gate as a "Qualified Business" and met the criteria for the designation as an Enterprise Project. However, the business name on the 2017 resolution was stated as Flex-N-Gate, not the legal name of Flex-N-Gate Texas LLC. The attached resolution corrects that error and will be resubmitted by Flex-N-Gate Texas LLC to the State for the designation as an Enterprise Project.
Financial Consideration
NA
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, AMENDING RESOLUTION NO. 4915-2017 CORRECTING THE NAME OF FLEX-N-GATE TO FLEX-N-GATE TEXAS LLC AND DECLARING THAT FLEX-N-GATE TEXAS LLC IS A "QUALIFIED BUSINESS" AS DEFINED IN SECTION 2303.402 OF THE ACT, AND MEETS THE CRITERIA FOR DESIGNATION AS AN ENTERPRISE PROJECT, AS SET FORTH IN SECTION 2303, SUBCHAPTER F OF THE ACT AND THAT THE ENTERPRISE PROJECT SHALL TAKE EFFET ON THE DATE OF DESIGNATION OF THE ENTERPRISE PROJECT BY THE AGENCY AND TERMINATE FIVE YEARS FROM THE DATE OF DESIGNATION
Whereas, the City of Grand Prairie (City) has previously passed Ordinance No. 7358 electing to participate in the Texas Enterprise Zone Program, and the local incentives offered under this resolution are the same on this date as were outlined in Ordinance No. 7358;
Whereas, the Office of the Governor Economic Development and Tourism (EDC) through the Economic Development Bank (Bank) will consider Flex-N-Gate Texas LLC as an enterprise project pursuant to a nomination and an application made by the City;
Whereas, the City desires to pursue the creation of the proper economic and social environment in order to induce the investment of private resources in productive business enterprises located in the City and to provide employment to residents of enterprise zones and to other economically disadvantaged individuals;
Whereas, pursuant to Chapter 2303, Subchapter F of the Texas Enterprise Zone Act, Texas Government Code (the "Act"), Flex-N-Gate Texas LLC has applied to the City for designation as an enterprise project;
WHEREAS, the City finds that Flex-N-Gate Texas LLC meets the criteria for designation as an enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds:
1. Flex-N-Gate Texas LLC 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 within the governing body’s jurisdiction located inside an enterprise zone and at least twenty-five percent (25.0%) of the business' new employees will be residents of an enterprise zone or economically disadvantaged individuals; and
2. There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities within the area; and
3. The designation of Flex-N-Gate Texas LLC 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 finds that Flex-N-Gate Texas LLC meets the criteria for tax relief and other incentives adopted by the City and nominates Flex-N-Gate Texas LLC for 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 finds that it is in the best interest of the City to nominate Flex-N-Gate Texas LLC as an enterprise project pursuant to the Act;
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of GRAND PRAIRIE, Texas:
THAT the findings of the City and its actions approving this resolution taken at the council meeting are hereby approved and adopted.
BE IT FURTHER RESOLVED that Flex-N-Gate Texas LLC is a "qualified business", as defined in Section 2303.402 of the Act, and meets the criteria for designation as an enterprise project, as set forth in Section 2303, Subchapter F of the Act.
BE IT FURTHER RESOLVED that the enterprise project shall take effect on the date of designation of the enterprise project by the agency and terminate five years from the date of designation.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 7th DAY OF AUGUST, 2018.