2212 RESOLUTION NO.
- l
RESOLUTION AUTHORIZING A CASH INCENTIVE FOR PROJECT
WIN TO LOCATE AND OPERATE A BUSINESS IN THE CITY OF
WEST MEMPHIS
WHEREAS,Project Win is a nationally recognized.restaurant brand that intends to construct and
operate a restaurant in West Memphis,AR; and
WHEREAS,operation of a restaurant at this location will generate additional sales tax and A&P
tax income and will encourage development of other businesses in the City of West Memphis that benefit
the citizens of the City of West Memphis; and
WHEREAS, Project Win, has requested from.the City of West Memphis an economic
development incentive to offset extraordinary site development and mitigation costs; and
WHEREAS,the City of West Memphis and A&P Commission have adopted a Retail Incentive
Program targeting popular brand restaurants to compliment the growing hotel presence,attract interstate
traffic,and cater to the community's ongoing request for more options,
WHEREAS,Project Win meets the criteria established through the A&P Commission incentive
program,
WHEREAS,the City of West Memphis finds that providing an economic development incentive
to Project Win for site development,will promote economic development and economic activity that will
benefit all citizens of West Memphis.
NOW,THEREFORE,IT BE RESOLVED BY;THE CITY COUNCIL OF THE CITY OF
WEST MEMPHIS,ARKANSAS,
The City will provide site development assistance to Project Win consisting of a one-time
payment not to exceed$50,000. The City shall make such payment at or subsequent to property closing
upon notification from Project Win of such closing schedule.
J
ADOPTED this day of 2019..
CO MCCLENDON,MAYOR
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ST:
J GRAY,CITY CLE