HomeMy WebLinkAbout024673 RES - 11/20/2001RESOLUTION
A RESOLUTION NOMINATING AND DESIGNATING
VISION TECHNOLOGIES AEROSPACE, LTD., AS A
QUALIFIED BUSINESS AND ENTERPRISE PROJECT
PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT,
CHAPTER 2303, TEXAS GOVERNMENT CODE.
WHEREAS, the City of CORPUS CHRISTI, Texas ("CORPUS CHRISTI") desires to
pursue the creation of an economic and social environment which will induce the investment of
private resources in productive business enterprises located in the City of CORPUS CHRISTI
Enterprise Zone ("Enterprise Zone") and will provide employment to residents of the Enterprise
Zone and to other economically disadvantaged individuals; and
WHEREAS, the Texas Enterprise Zone Act, Chapter 2303, Texas Government Code, as
amended, (the "Act") authorizes the designation of enterprise projects within an enterprise zone,
and
WHEREAS, the City finds that VISION TECHNOLOGIES AEROSPACE, LTD., or
its successor in interest, meets the criteria for designation as an enterprise project under the Act
on the following grounds:
1. VISION TECHNOLOGIES AEROSPACE, LTD., is a "qualified
business" under Section 2303.402 of the Act since it is engaged in the
active conduct of a trade or business in the Enterprise Zone and at least
twenty-five (25%) percent of the additional employees will be residents of
the Enterprise Zone or economically disadvantaged individuals;
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2. VISION TECHNOLOGIES AEROSPACE, LTD. is located in the
Enterprise Zone which has an unemployment rate of not less than one and
one-half (1-1/2) times the State unemployment rate;
3. There has been and will continue to be a high level of cooperation
between public, private, and neighborhood entities within the Enterprise
Zone; and
4. The designation of VISION TECHNOLOGIES AEROSPACE,
LTD., as an enterprise project will contribute significantly to the
achievement of the plans of the City for development and revitalization of
the Enterprise Zone.
WHEREAS, the City finds that it is in the best interest of the City to nominate VISION
TECHNOLOGIES AEROSPACE, LTD., as an enterprise project pursuant to the Act;
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS:
1. The findings of the City Council and its actions approving this Resolution taken
during its Regular Meeting are hereby approved and adopted.
2. VISION TECHNOLOGIES AEROSPACE, LTD. is a "qualified business", as
defined in Section 2303.402 of the Act, and meets the criteria for designation as an enterprise
project.
3. The City hereby nominates VISION TECHNOLOGIES AEROSPACE, LTD. as
an enterprise project pursuant to the Act, and authorizes the City Manager or his designee to file
an application requesting designation of VISION TECHNOLOGIES AEROSPACE, LTD. as an
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enterprise project with the Texas Department of Economic Development, and to execute all
documents and agreements necessary to process said application.
4. The City finds and determines that VISION TECHNOLOGIES AEROSPACE,
LTD. meets the criteria for tax relief and other incentives adopted by the City and hereby
nominates VISION TECHNOLOGIES AEROSPACE, LTD. as an enterprise project in
accordance with the Act on the grounds that it will be located wholly within the Enterprise
Zone, and will create a higher level of employment, economic activity and stability.
5. The City finds and determines that it is in the best interest of the City to nominate
VISION TECHNOLOGIES AEROSPACE, LTD.as an enterprise project pursuant to the Act.
6. Upon approval of the Texas Department of Economic Development, the
Enterprise Project will be named VISION TECHNOLOGIES AEROSPACE, LTD. - CORPUS
CHRISTI Project.
7. The enterprise project shall take effect on the date of designation of the enterprise
project noted by the Texas Department of Economic Development and terminate five (5) years
after date of designation.
INTRODUCED AND PASSED by the City Council of the City of CORPUS CHRISTI,
Texas, this ~9'~¢~Day of ~/~~01 .
Legal form approved on ~0 ta, { ~
James~.'Bray, Jr ,~Ci Attorney
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The City of Corpus Christi
,2001;
Corpus Christi, Texas
(~ day of,~. ~.~01
The above resolution was passed by the following vote:
Samuel L. Neal, Jr.
Brent Chesney
Javier D. Colmenero
Henry Garrett
Rex A. Kinnison
Bill Kelly
John Longoria
Jesse Noyola
Mark Scott
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