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HomeMy WebLinkAboutR16-376406 RESOLUTION NO. 16-376 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLAINVIEW, TEXAS, ESTABLISHING AN ECONOMIC DEVELOPMENT PROGRAM IN ACCORDANCE WITH CHAPTER 380 OF THE LOCAL GOVERNMENT CODE; PROVIDING GENERAL CRITERIA FOR DETERMINING THE AMOUNT OF A LOAN OR GRANT; DEVELOPING AN APPLICATION PROCEDURE; AUTHORIZING THE MAYOR TO ENTER INTO SPECIFICALLY THE ECONOMIC DEVELOPMENT AGREEMENT ATTACHED; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Plainview, Texas, desires to establish and develop a program that will promote and stimulate economic development in the City; and WHEREAS, Texas Local Government Code Ann., Chapter 380 (Vernon's 2005) ("Chapter 380") authorizes a municipality to make a loan or grant of public monies or public services to promote State or local economic development as well as stimulate business and commercial activity within the local community; and WHEREAS, the City of Plainview ("City") vigorously promotes economic development and seeks to create new jobs and stimulate business and commercial activity within the City to enhance the quality of life for its citizens; and WHEREAS, such economic development programs will be used as an effective tool for the enhancement and expansion of the City's commercial, economic, and employment base for the best interest and benefit of the City's citizens; and WHEREAS, the City Council determined that specific criteria shall be used for the granting of economic incentives to encourage Renewable Energy and Electric Generation Projects under their Program (defined below); and WHEREAS, a public purpose will be served by the expenditure of public funds or the provision of public services by reducing or eliminating unemployment or underemployment of the City, developing and diversifying the economy of the City and the State, and stimulating business and commercial activity to enhance stability and growth of the City and the State. that: NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Plainview SECTION 1. Establishment of Chapter 380 Economic Development Program (1) The City Council hereby establishes a City of Plainview Chapter 380 Economic Development Program ("Program") in accordance with Texas Local Government Code Ann., Chapter 380 (Vernon's 2005). Pursuant to the Program, the City will consider granting economic {00228245.DOCX - ver} Page 1 of 4 407 incentives to encourage Renewable Energy and Electric Generation Projects ("Projects") to locate and operate their businesses within the City. (2) Each request for Projects will be reviewed individually, on a case-by-case basis, and a decision will be made based upon consideration of the following factors: (a) Amount of tax revenues expected to be generated by the Projects for each business proposing to operate, or operating, within the City; (b) Extent of economic enhancement and stimulation that will be received from the Project of the business proposing to locate and/or operate, or located and operating, within the City; (c) Number and quality of new employment opportunities which the City expects will result, directly and/or indirectly, from the implementation of the Projects through operation of the business; (d) Extent of contribution for enhancing further economic development; (e) Extent that Projects do not result in any unreasonable environmental concerns or give adverse impacts to adjacent properties; (f) Availability and priority of funding and resources of the City at the time of the request to participate in the Program; and (g) Projects do not result in any violation of the laws of the United States, the State of Texas, or the City Ordinances. SECTION 2. Request (1) Any business wanting to participate in the Program shall submit a request to the City of Plainview that includes the following: (a) The requesting businesses' legal name and address of its principle place of businesses; (b) The name and contact information for an individual representative of the requesting business; (c) A description of the requesting businesses' current operations and the economic benefits that the City shall receive from the operation, relocation, and/or expansion of such business within the corporate limits of the City under the Program; {00228245.DOCX - ver} Page 2 of 4 408 (d) The proposed economic incentives being requested from the City under the Program; and (e) How the Program will aid the businesses' success in operating, relocating, or expanding its business. (2) For each request, the City Council, in its sole discretion, reserves the right to waive any or all of the Program request requirements or require additional information, at its discretion. (3) The requesting businesses' submission shall be reviewed and given consideration by the City Council. After considering such request, the City Council may alter or modify any terms or the nature of any aspects of the Program as a part of the recommendation. All requests will be reviewed on a case-by-case basis with the City Council having full authority to make the final decision for such request, in its sole and absolute discretion. SECTION 3. Incentives The Program specifically provides for an incentive to Projects for services or the reimbursement of taxes and/or fees, upon verification that such taxes and/or fees were paid. Additionally, the City Council may consider other types of incentives for such Projects as deemed appropriate and approved by the City Council. SECTION 4. Procedures, Criteria and Payment Limitations The nature and procedure for implementation of an economic development incentive under the Program will be developed based upon the individual Project's merits. In determining what, if any, incentives to provide, the City Council will consider to vihat extent such incentives are necessary to attract or assist such business, what type of incentive would provide the City with the most benefit for the cost associated with same in meeting the business needs, the economic benefit that the City will derive from operation of the business in the City, the City's budgetary abilities and limitations, and the amount of any financial participation by the business. Nothing within these procedures shall imply or require that the City is under any obligation to provide any incentive to any business, as it reserves the right to refuse participation in the Program for any business. SECTION 5. Economic Development Agreement Any incentives provided under the Program will be reflected in an Economic Development Program Agreement ("Agreement") between the City and the business requesting participation in the Program. The Agreement will specify as follows: {00228245.DOCX - ver) Page 3 of 4 (1) The amount, character, and type of incentives to be paid or provided to the business, and the terms, limitations and qualifications thereon; (2) The terms and conditions the City Council determines are necessary to insure that the incentives granted to the business under the Program will be used for purposes intended to stimulate business and commercial activity in the City consistent with the objectives and purposes of Chapter 380; (3) Status and/or performance reporting on the Project, as a condition of the incentive or as otherwise deemed appropriate; (4) The nature, extent and timing of performance of the Project under the Program by the business; and (5) The recapture and reimbursement of all value of the incentives provided to the business under the Program in the event of default of the Agreement by the business. SECTION 6. Effective Date This Resolution shall take effect immediately from and after its adoption. PASSED AND APPROVED this 13th day of December, 2016. ATTEST: Belinda Hinojosa, City Secretary APPROVED AS TO FORM: Les ie Spear Schmid City Att s mey {00228245.DOCX - ver) CITY OF PLAINVIEW By: 1-lcd ' --�� Wendell Dun ap, MayoW Page 4 of 4 409