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REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br /> February 25, 2019 Appropriation <br />Agenda Date Requested <br /> <br />Source of Funds: <br />Requested By: Ryan Cramer, Econ. Dev. Coordinator <br /> <br />Account Number: <br />Department: CMO <br /> <br />Amount Budgeted: <br />Report Resolution: X Ordinance: <br /> <br />Amount Requested: <br /> <br />Exhibit: Proposed Resolution <br />Budgeted Item: YES NO <br />Exhibit: Enterprise Zone Application <br /> <br />SUMMARY & RECOMMENDATION <br />th <br />Valvoline has approached the City asking for the City to designate their new project off of S. 16 in Port <br />Crossing as a half enterprise project with the State. <br />The Texas Enterprise Zone Program is a program in which the State remits some of their portion of sales and <br />use tax back to a business in exchange for capital investment and job creation. The City pays or relinquishes <br />d create <br />wage in the county in which the qualified business site is located. <br />Cities of our size get six nominations per biennium; as we have not used one of our nominations since 2013 <br />with Equistar Chemicals, this would leave us with five and a half nominations to use by August 31, 2019. <br />Action Required by Council: <br />Consider approval or other action regarding a resolution designating Valvoline as a half enterprise project. <br />Approved for City Council Agenda <br /> <br />Corby D. Alexander, City Manager Date <br /> <br />