02-25-19 Regular Meeting of the La Porte City Council

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RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, NOMINATING VALVOLINE LLC TO THE OFFICE OF THE GOVERNOR ECONOMIC HALF ENTERPRISE THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303, TEXAS GOVERNMENT CODE th WHEREAS, on the 10 day of May, 2010, the City of La Porte, Texas (City) passed and approved Ordinance No. 2010-3248 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. 2010-3248; and WHEREAS, the Office of the Governor Economic Development and Tourism (OOGEDT) through the Economic Development Bank (Bank) will consider Valvoline LLC as a half enterprise project pursuant to a nomination and an application made by the City; and 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 and veterans; and WHEREAS, pursuant to Chapter 2303, Subchapter F of the Texas Enterprise Zone Act, Texas Government Code (the "Act"), Valvoline LLC has applied to the City for designation as a half enterprise project; and WHEREAS, the City finds that Valvoline LLC meets the criteria for designation as a half enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds: 1. Valvoline 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 inside an enterprise zone, and at least twenty- five percent (25.0%) of the business' new permanent jobs in the enterprise zone will be held by residents of any enterprise zone in this state, economically disadvantaged individuals, or veterans; 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 Valvoline LLC as a half 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 Valvoline LLC meets the criteria for tax relief and shall pay sales tax when eligible and the City has adopted incentives Valvoline could be eligible for and nominates Valvoline LLC for half enterprise project status on the grounds that it will be located at a qualified business site inside an enterprise zone, 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 Valvoline LLC as a half enterprise project pursuant to the Act;