HomeMy WebLinkAbout030270 RES - 08/29/2014 Page 1 of 3
Resolution nominating Equistar Chemicals, LP ("Equistar") to the
Office of the Governor Economic Development & Tourism ("EDT")
through the Economic Development Bank ("Bank") as a double
jumbo enterprise project pursuant to the Texas Enterprise Zone Act
("Act").
WHEREAS, the City of Corpus Christi ("City") has previously passed on August 26,
2014, Ordinance No.=2(pQ 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. Q302tp9
WHEREAS, the EDT through the Bank will consider Equistar as a double 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, Equistar has applied to the City for designation as a
double jumbo enterprise project; and
WHEREAS, the City finds that Equistar, located at 1501 McKinzie Road, Corpus Christi,
Texas 78410, meets the criteria for designation as a double jumbo enterprise project
under the Act on the following grounds:
1. Equistar 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 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. Equistar is located in Census Tract 36.02, Block Group 2, as defined by
the most recent federal decennial census available at the time of
designation; and
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 Equistar as a double 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 Equistar meets the criteria for tax relief and other
incentives adopted by the City and nominates Equistar for double 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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INDEXED
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WHEREAS, the City finds that it is in the best interest of the City to nominate Equistar
as a double 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 August Z9, 2014, are hereby approved and
adopted.
SECTION 2. That Equistar is a "qualified business" as defined in Section 2303.402 of
the Act and meets the criteria for designation as a double 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 5 years after the date of designation.
ATTEST: THE CITY OF CORPUS CHRISTI
1 _k
Rebecca Huerta Nelda' -
City Secretary Mayor
Page 3 of 3
Corpus Christi, Texas
L� of CI,A , 2014
The above resolution was passed by the following vote:
Nelda Martinez
Kelley Allen
Rudy Garza Jr. / A L
Priscilla G. Leal Ca /I�J
David Loeb S '
Chad Magill 41
Colleen McIntyre 10d4tAk
Lillian Riojas ICCd/C-
Mark Scott •
4
1131) 2'7 0