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 investme...
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