HomeMy WebLinkAboutRES 2017-071 RESOLUTION NO. 2017-071
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, NOMINATING GAMESTOP, INC. TO
THE OFFICE OF THE GOVERNOR, ECONOMIC
DEVELOPMENT AND TOURISM THROUGH THE
ECONOMIC DEVELOPMENT BANK FOR DESIGNATION
AS AN ENTERPRISE PROJECT ("PROJECT") UNDER
THE TEXAS ENTERPRISE ZONE PROGRAM UNDER THE
TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303, TEXAS
GOVERNMENT CODE ("ACT").
WHEREAS, on August 3, 2010, the City of Grapevine, Texas (the "City") passed
Ordinance No. 2010-38 electing to participate in the Texas Enterprise Zone Program,
and the local incentives available under this resolution are the same on this date as
were outlined in Ordinance No. 2010-38; and
WHEREAS, the Office of the Governor Economic Development and Tourism
("OOGEDT") through the Economic Development Bank ("Bank") will consider
GameStop, Inc. (the "Company") as an enterprise project pursuant to a nomination and
an application made by the City; and
WHEREAS, the City Council of the City of Grapevine, Texas, 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; and
WHEREAS, pursuant to Chapter 2303, Subchapter F of the Texas Enterprise
Zone Act, Texas Government Code (the "Act"), GameStop, Inc. has applied for a third
time to the City for designation as an enterprise project, the first and second time
concerning different assets and successfully approved in the August 3, 2010 and
November 15, 2011 City Council meetings; and
WHEREAS, the City finds that GameStop, Inc. meets the criteria for designation
as an enterprise project under Chapter 2303, Subchapter F of the Act on the following
grounds:
1. GameStop, Inc. 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, economically disadvantaged
individuals, or veterans; 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 GameStop, Inc. as an 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 GameStop, Inc. meets the criteria for tax relief and
other incentives adopted by the City and nominates GameStop, Inc. for enterprise
project status on the grounds that it will be located at the qualified business site, will
create a higher level of employment, economic activity and stability;
WHEREAS, all constitutional and statutory prerequisites for the approval of this
Resolution have been met, including but not limited to the Open Meetings Act; and
WHEREAS, the City Council deems the adoption of this resolution to be in the
best interests of the health, safety, and welfare of the public; and
WHEREAS, the City finds that it is in the best interest of the City to nominate
GameStop, Inc. as an enterprise project pursuant to the Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS:
Section 1. That all matters stated hereinabove are found to be true and correct
and are incorporated herein by reference as if copied in their entirety.
Section 2. The City finds that GameStop, Inc. is a "qualified business", as
defined in Section 2303.402 of the Act, and meets the criteria for designation as an
enterprise project, as set forth in Section 2303, Subchapter F of the Act.
Section 3. The City nominates GameStop, Inc. to the State of Texas for
Enterprise Project status.
Section 4. The enterprise project shall take effect on the date of designation of
the enterprise project by Office of the Governor, Economic Development and Tourism
and terminate five years after the date of designation.
Section 5. That this resolution shall take effect from and after the date of its
passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 15th day of August, 2017.
Resolution No. 2017-071 2
APPROVED:
William D. Tate
Mayor
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Tara Brooks \P s
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City Secretary *'* *
APPROVED AS TO FORM:
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John F. Boyle, Jr.
City Attorney
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Resolution No. 2017-071 3