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CC Resolution No. 2042 - BayerMaterialScienceTripleJumbo RESOLUTION NO.2042 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,TEXAS, NOMINATING BAYER MATERIALSCIENCE LLC TO THE OFFICE OF THE GOVERNOR,ECONOMIC DEVELOPMENT AND TOURISM THROUGH THE ECONOMIC DEVELOPMENT BANK FOR DESIGNATION AS A QUALIFIED BUSINESS AND A TRIPLE JUMBO ENTERPRISE PROJECT UNDER THE TEXAS ENTERPRISE ZONE PROGRAM UNDER THE TEXAS ENTERPRISE ZONE ACT,CHAPTER 2303,TEXAS GOVERNMENT CODE;PROVIDING A REPEALING CLAUSE;AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. �r�e�irkir4cY'cir�rirY9e3e�exEicExEx�c*xieie*�eie�eXY3c*4rxicir9cir�ede3e�e�c�e�r��c�e�cxxvkx�cyiicc:6k9eeeiricirkir'rIrY9e*�c9e WHEREAS,on April 23,2009,the City of Baytown(the"City')elected to continue its participation 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.11,105;and WHEREAS,the Office of the Governor.Economic Development and Tourism through the Economic Development Bank will consider Bayer MaterialScience LLC as a triple jumbo 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 within the City and to provide employment to residents of enterprise zones and to other economically disadvantaged individuals;and WHEREAS,pursuant to Chapter 2303,Subchapter F of the Enterprise Zone Act(the "Act"),Bayer MaterialScience LLC has applied to the City for designation as a triple jumbo enterprise project;and WHEREAS.the City finds that Bayer MaterialScience LLC meets the criteria for designation as a triple jumbo enterprise project under Chapter 2303,Subchapter F of the Act on the following grounds: 1.Bayer MaterialScience LLC is a"qualified business"under Section 2303.402 of the Act because it will be engaged in the active conduct of a trade or business at a qualified business site within the governing body's jurisdiction located outside of an enterprise zone and at least thirty-five percent(35.0%)of the business'new employees will be residents of an enterprise zone or economically disadvantaged individuals;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 Bayer MaterialScience LLC as a triple jumbo 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 Bayer MaterialScience LLC meets the criteria for tax relief and other incentives adopted by the City and nominates Bayer MaterialScience LLC for triple jumbo enterprise project status on the grounds that it will be located at the qualified business site and 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 Bayer MaterialScience LLC as an enterprise project pursuant to the Act;NOW.THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS: Section 1:That the findings of the City and its actions approving this resolution taken at the council meeting are hereby approved and adopted. Section 2:That the City finds that Bayer MaterialScience LLC is a qualified business,as defined in Section 2303.402 of the Act,and meets the criteria for designation as a triple jumbo enterprise project,as set forth in Chapter 2303,Subchapter F of the Act. Section 3:That the enterprise project shall take effect on December 1,2009,and terminate on December 1,2014. Section 4:All resolutions or parts of resolutions inconsistent with the terms of this resolution are hereby repealed;provided.however,that such repeal shall be only to the extent of such inconsistency and in all other respects this resolution shall be cumulative of other resolutions regulating and governing the subject matter covered by this resolution. Section 5:This resolution shall take effect immediately from and after its passage by the City Council of the City of Baytown. INTRODUCED,READ and PASSED,by the affirmative ote of the City Council of the City of Baytown this the 28 h day of January,2010. 4 VayTow S P N ONCARLOS.May v E T: -L ICIA GA A,city C erk APPROVED AS TO FORM: ACIO RAMIREZ,SR.,C'ttorney R:AKaren\Files\City CouncilUtcsolutions12010Uanuary 28Wominating Bayer MaterialScience.doc 2