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Ord 916 - withdrawn by applicantTOWN OF WESTLAKE ORDINANCE NO. 916 AN ORDINANCE OF THE TOWN OF WESTLAKE, TEXAS APPROVING THE TOWN'S PARTICIPATION IN THE TEXAS ENTERPRISE ZONE PROGRAM PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303, TEXAS GOVERNMENT CODE, IDENTIFYING LOCAL INCENTIVES AVAILABLE TO QUALIFIED BUSINESSES, DESIGNATING A LIASION FOR COMMUNICATION WITH INTERESTED PARTIES, AND NOMINATING CHARLES SCHWAB & CO., INC. TO THE OFFICE OF THE GOVERNOR ECONOMIC DEVELOPMENT & TOURISM THROUGH THE ECONOMIC DEVELOPMENT BANK AS AN ENTERPRISE PROJECT. WHEREAS, the Town of Westlake ("Town"), being in full compliance with the Texas Enterprise Zone Act (the "Act"), desires to create the proper economic and social environment Io induce the investment of private resources in productive business enterprises and to provide employment to residents of the Town; and WHEREAS, pursuant to Chapter 2303, Subchapter F of the Act, Charles Schwab & Co., Inc. has approached the Town to request a nomination as an. Enterprise Project, to be located at 3000 Schwab Way, Westlake, Texas 76262; and WHEREAS, the Office of the Governor Economic Development and Tourism ("OOGEDT") through the Economic Development Bank (the "Bank") will consider Charles Schwab & Co., Inc. as an Enterprise Project pursuant to nomination and application made by the Town; and WHEREAS, Charles Schwab & Co., 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, as determined by the state; and WHEREAS, after proper notice, the public hearing to consider this Ordinance electing to participate in the Texas Enterprise Zone Program, and the tax incentives available to qualified businesses, was held by the Town Council of Westlake, Texas at 5:00 p.m. on October 5, 2020 in the Council Chamber at 1500 Solana Blvd., Building 7, Suite 7100, Westlake, Texas 76262; and WHEREAS, in accordance with the Orders of the Office of the Governor, the aforementioned public hearing was simultaneously conducted via virtual meeting by video and telephone conference in order to advance the public health goal of limiting face-to-face meetings to slow the spread of the Coronavirus (COVID-19). Ordinance 916 Page 1 of 4 Air NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS: SECTION 1: The following local incentives, at the election of the Town and in accordance with the Town's Economic Development Policy, may be available to the nominated project or activity of a qualified business: a) The Town may: 1. abate property taxes in accordance with the Town's Tax Abatement Guidelines; 2. provide local sales tax refunds in accordance with the Town's Economic Development Policy; 3. provide economic incentives via the Westlake 4B Development Corporation; 4. participate in a tax increment reinvestment zone pursuant to Chapter 311 of the Texas Tax Code; 5. provide other tax deferrals such as Foreign Trade Zone tax incentives and relief; or 6. provide economic incentives pursuant to Chapter 380 of the Local Government Code b) The Town may provide regulatory relief to businesses, including: 1. zoning exemptions, changes, or variances; 2. exemptions from certain building code requirements 3. exemptions of impact or inspection fees; or 4. streamlined permitting c) The Town may provide enhanced services to businesses, including: 1. improved police and fire protection; 2. institution of community crime prevention programs; or d) The Town may provide improvements in community facilities, including: 1. capital improvements in water and sewer facilities; 2. road repair; or 3. creation or improvement of parks e) The Town may provide business and development services, including: 1. low -interest loans or grants for businesses; 2. low -interest loans for housing rehabilitation or new construction projects; 3. transfer abandoned housing to individuals or community groups; 4. use of surplus school buildings for incubators; 5. promotion and marketing services; 6. provision of publicly owned land for development purposes; or 7. one -stop permitting, problem resolution centers, or ombudsmen f) The Town, through its funding and other agencies, may provide job training and employment services to businesses including: 1. retraining programs; 2. literacy and employment skills programs; Ordinance 916 Page 2 of 4 �lll7lti%�rtw�1 b/ 141,,'/;eanf 3. vocational education; or 4. customized job training; SECTION 2: The Town directs and designates its Town Manager as the Town's liaison to communicate and negotiate with the OOGEDT through the Bank and enterprise project(s) and to oversee activities and communications with qualified businesses and other entities affected by the enterprise project. SECTION 3: The Town finds that Charles Schwab & Co., Inc. meets the criteria for designation as an enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds: a) Charles Schwab & Co., 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%) of the business' new permanent jobs, as defined by the Act, at the qualified business site will be held by: 1. residents of any enterprise zone in this state; 2. economically disadvantaged individuals; or 3. veterans b) There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities in the area; and c) The designation of Charles Schwab & Co., Inc. as an enterprise project will contribute to the achievement of the plans of the Town for development and revitalization of the area. SECTION 4: The Town further finds that: a) It is in the best interest of the Town to nominate Charles Schwab & Co., Inc. as an Enterprise Project pursuant to the Act. SECTION 5: The Town nominates Charles Schwab & Co., Inc. for Enterprise Project status. SECTION 6: The enterprise project shall take effect on the date of designation of the enterprise project by OOGEDT and terminate five years from the date of designation. SECTION 7: This Ordinance shall take effect from and after its passage. The findings of the Town and its actions approving this Ordinance taken at the meeting of the Town Council of Westlake, Texas are hereby approved and adopted. Ordinance 916 Page 3 of 4 PASSED AND APPROVED ON THIS 5TH DAY OF OCTOBER 2020. ATTEST: Laura Wheat, Mayor Todd Wood, Town Secretary Amanda DeGan, Town Manager APPROVED AS TO FORM: L. Stanton Lowry, Town Attorney Ordinance 9 16 Page 4 of 4