HomeMy WebLinkAbout73-86 RESOLUTIONRESOLUTION FOR DESIGNATION OF A SUBSTITUTE ENTERPRISE ZONE
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RESOLUTION NO. 73-86
A RESOLUTION STATING INTEREST BY THE CITY OF FAYETTEVILLE, ARKANSAS,
TO PARTICIPATE IN THE ARKANSAS ENTERPRISE ZONE PROGRAM, DESCRIBING
SUCH ENTERPRISE ZONES WITHIN THE CITY OF FAYETTEVILLE, ARKANSAS, AND
STATING CERTAIN ASSURANCES WITH REGARD THERETO.
WHEREAS, the Arkansas Industrial Development Commission (AIDC)
has designated three (3) census block groups in the City of Fayette-
ville, Arkansas as eligible enterprise zones based on demographic and
economic factors pursuant to the Arkansas Enterprise Zone Act of 1983
(Act 813); and that
WHEREAS, the City of Fayetteville, Arkansas requests that census
tract 111, block group 2; census tract 111, block group 5; and census
tract 111, block group 6 be approved as substitute enterprise zones
for eligible census tract 108, block group 5; census tract 108, block
group 7; and census tract 109, block group 1 for the purpose of imple-
menting the Arkansas Enterprise Zone Program; and that
WHEREAS, in h ccordance;with the.,Arkansas Enterprise Zone Program
requirements, the City of Fayetteville agrees to hold at least one
duly publicized public hearing for the purpose of receiving citizen
comments with regard to the Program and the designation of census tract
111, block group 6; census tract 111, block group 5; and census tract
111, block group 2 as enterprise zones.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY BOARD OF DIRECTORS OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
That the City of Fayetteville, Arkansas, will participate in the
Arkansas Enterprise Zone Program and requests designation by the Ark-
ansas Industrial Development Commission of census tract 111, block
group 6; census tract 111, block group 5; and census tract 111, block
group 2 as enterprise zones for the purpose of implementing the Ark-
ansas Enterprise Zone Program.
WHEREAS, in accordance with the Arkansas Enterprise Zone Program
requirements, the City of Fayetteville, Arkansas, agrees to:
1. Apply for enterprise zone designation using only approved forms
(or copies of such);
2. Provide all requested information required pertaining to the
potential enterprise zone under consideration;
3. Assume a local commitment to provide or undertake the following:
a. analysis of the adequacy of police protection within the
proposed zone and, if necessary, devise and implement a
plan for improvement thereof;
b. give priority to the use, within the proposed zone, of any
employment training or community development funds received
from the state or federal government;
c. assist AIDC in certifying employers to be eligible for the
benefits of the Arkansas Enterprise Zone Program;
d. examine existing regulations or ordinances and their impact
on economic development within the enterprise zone;
e. assist AIDC in evaluating progress made in an enterprise
zone within its jurisdiction;
f. evaluate the impacts of waiving any sales tax imposed by
the local governing body, and agree to waive those taxes
on items that are eligible for the state's sales and use
tax credit where appropriate; and
g•
to keep AIDC informed whenever changes occur within the zone;
i.e., an establishment goes out of business, is destroyed
by fire, flood, etc., new development takes place within the
infrastructure (streets, etc.), changes in local development
codes that may affect the zone, etc.
That the Manager of the City of Fayetteville, Arkansas, is hereby
authorized to submit the required application and to fulfill the require-
ments of said program that may now or hereafter by enacted or prom-
ulgated by the Arkansas. General Assembly or the Arkansas Industrial
Development Commission.
PASSED AND APPROVED THIS 15th DAY OF July , 1986.
ATTEST
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APPROVED
CLERK
BY
MAYOR
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