02-08-21 Regular Meeting of the La Porte City Council

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REQUEST FOR CITY COUNCIL AGENDA ITEM Appropriation Agenda Date Requested: February 8, 2021 N/A Source of Funds: Requested By: Jason Weeks, Asst. City Mgr. Department: Administration/CMO N/A Account Number: N/A Amount Budgeted: Report Resolution Ordinance Amount Requested: N/A Exhibits: Ordinance 2021-3817 Budgeted Item: Yes No SUMMARY & RECOMMENDATION On May 10, 2010, the City of La Porte City Council approved Ordinance 2010-3248 the Ordinance provided tax incentives, designated a liaison for communication with interested parties, and nominated INVISTA S.a r.l. to the Office of the Governor Economic Development & Tourism through the Economic Development Bank as an Enterprise Project. This designation terminated on June 1, 2015 and the City has not nominated another project. Texas Enterprise Zone Program is an economic development tool that allows local communities to partner with the state of Texas to encourage job creation and capital investment in economically distressed areas. Local communities can nominate a new or expanding business as an "enterprise project." Approved projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund depends on the capital investment and jobs created at the qualified business site. Eric Geisler with Economic Incentive Services, LLC has been working with INEOS USA, LLC on a project which they are requesting the City nominate this project as a Texas Enterprise Project. Mr. Geisler will be present at the public hearing to provide details about the job creation and capital investment of his client, INEOS USA, LLC. This public hearing is part of the nomination process. The purpose of this hearing is to receive public input on the consideration of a City ordinance nominating the qualified business site located at 1230 Independence Parkway, La Porte, Harris County, Texas, 77571, to the Economic