HomeMy WebLinkAbout029292 RES - 11/15/2011Page 1 of 3
Resolution nominating TPCO America Corporation ("TPCO") to the
Office of the Governor Economic Development & Tourism ("EDT")
through the Economic Development Bank ("Bank") as a triple jumbo
enterprise project pursuant to the Texas Enterprise Zone Act ("Act").
WHEREAS, the City of Corpus Christi ("City") has previously passed on October 14,
2003, Ordinance No. 025513 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. 025513;
WHEREAS, the EDT through the Bank will consider TPCO as a triple jumbo enterprise
project pursuant to a nomination and an application made by the City;
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;
WHEREAS, pursuant to the Act, TPCO has applied to the City for designation as a triple
jumbo enterprise project; and
WHEREAS, the City finds that TPCO, located at 5433 Highway 35, Gregory, Texas
78359, meets the criteria for designation as a triple jumbo enterprise project under the
Act on the following grounds:
1. TPCO 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 located in an enterprise zone and at least twenty-five
percent (25.0%) of the business' new employees will be residents of an
enterprise zone or economically disadvantaged individuals;
2. TPCO is located in an enterprise zone, which is also in Census Tract 107,
Block Group 1, as defined by the most recent federal decennial census
available at the time of designation, in which at least 20 percent of the
residents of the block group have an income at or below 100 percent of
the federal poverty level;
3. There has been and will continue to be a high level of cooperation
between public, private, and neighborhood entities within the area; and
4. The designation of TPCO 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 TPCO meets the criteria for tax relief and other
incentives adopted by the City and nominates TPCO for triple jumbo enterprise project
status on the grounds that it will be located at a qualified business site and will create a
higher level of employment, economic activity, and stability; and
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WHEREAS, the City finds that it is in the best interest of the City to nominate TPCO as
a triple jumbo enterprise project pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. That the findings of the City Council and its actions approving this
Resolution taken at the council meeting on November 8, 2011, are hereby approved
and adopted.
SECTION 2. That TPCO 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 the Act.
SECTION 3. That the enterprise project shall take effect on the date of designation of
the enterprise project by the EDT and terminate on December 1, 2016.
ATTEST:
Armando Chapa
City Secretary
THE CITY OF CORPUS CHRISTI
Joe Adme
Mayor
APPROVED: b day of Oc.- 07.e.;� , 2011.
L. Brian Narvae
First Assistant City Attorney
For City Attorney
Corpus Christi, Texas
of IQ o et/00e r' 2011
The above resolution was passed by the following vote:
Joe Adame
Chris N. Adler
Larry Elizondo, Sr.
Kevin Kieschnick
Priscilla Leal
David Loeb
John Marez
Nelda Martinez
Mark Scott
02'9292
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