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

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ORDINANCE N O.2021-3817 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, AUTHORIZING THE CITY OF LA PORTES PARTICIPATION IN THE TEXAS ENTERPRISE ZONE PROGRAM PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303, TEXAS GOVERNMENT CODE; PROVIDING TAX INCENTIVES, DESIGNATING A LIAISON FOR COMMUNICATION WITH INTERESTED PARTIES, AND NOMINATING INEOS USA, LLC, TO THE OFFICE OF THE GOVERNOR ECONOMIC DEVELOPMENT & TOURISM DIVISION THROUGH THE ECONOMIC DEVELOPMENT BANK AS AN ENTERPRISE PROJECT; PROVIDING A SEVERABILITY CLAUSE; PROVIDING AN OPEN MEETINGS CLAUSE; AND PROVIDING AN EFFECTIVE DATE. W HEREAS, the City Council of the City of La Porte, Texas (City) desires to create the proper economic and social environment to induce the investment of private resources in productive business enterprises located in severely distressed areas of the city and to provide employment to residents of such area; and W HEREAS, the project or activity is not located in an area designated as an enterprise zone; and W HEREAS, pursuant to Chapter 2303, Subchapter F of the Texas Government Code, Act herein), INEOS USA, LLC has applied to the City for designation as an enterprise project, for the qualified business site located at 1230 Independence Parkway, La Porte, Harris County, Texas 77571; and W HEREAS, the City finds that INEOS USA, LLC meets the criteria for tax relief and other incentives adopted by the City 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 W HEREAS, a public hearing to consider this ordinance was held by the City Council on February 8, 2021; N OW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS THAT: Section 1: The City nominates INEOS USA, LLC to the Office of the Governor Economic Development and Tourism Division through the Economic Development Bank as an enterprise project Section 2: The following local incentives, at the election of the La Porte City Council, are or will be made available to the nominated project or activity of the qualified business: a) The City may abate taxes on the increase in value of real property improvements and eligible personal property that is located in a designated enterprise zone. The level of abatement shall be based upon the extent to which the business receiving the abatement creates jobs for qualified employees, in accordance with the City of La Porte Tax Abatement Policy, and with qualified employee being defined by the Act. b) The City, upon approval of a project by the La Porte Development Corporation, may provide an Economic Development Sales Tax (Type B 4B) contribution.