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0967RESOLUTION NO. / Cf A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST MEMPHIS STATING THE INTEREST OF THE CITY OF WEST MEMPHIS IN PARTICIPAT- ING IN THE ARKANSAS ENTERPRISE ZONE PRO- GRAM AND DESIGNATING ENTERRPISE ZONES IN WEST MEMPHIS, CRITTENDEN COUNTY, ARKANSAS WHEREAS, the Arkansas Enterprise Zone Act of 1983, Act 740 has been enacted by the Arkansas General Assembly; and WHEREAS, the Arkansas Enterprise Zone Program offers significant incentives for economic development and revitalization to distressed areas within West Memphis; and WHEREAS, the Arkansas Industrial Development Commission (AIDC) has designated certain tracts of census geography within West Memphis as eligible Enterprise Zones; and WHEREAS, the City of West Memphis has selected the areas described herein as a potential Enterprise Zone: an area bounded by Broadway Avenue on the north, Polk Avenue and Jackson Avenue on the south, South 4th Street on the east, and South Avalon and Woods Street on the west (see attached map) NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WEST MEMPHIS: 1. That the AIDC be requested to approve the areas described above as Enterprise Zones. 2. That the City of West Memphis to follow the regulations of the Arkansas Enterprise Zone Program and specifically those condi- tions listed below; a. apply for enterprise zone designation using only approved forms (or copies of such), b. provide all requested information required pertaining to the potential enterprise zone under consideration, to AIDC, c. hold at least one public hearing on the application for enterprise zone designation, d. assume a local commitment to provide, or undertake, the following: 1. analysis of the adequacy of police protection within the proposed zone, and if necessary, devise and implement a plan for improvement thereof; 1 ~. 2. give priority to the use, within the proposed zone, of any employment training or community development funds received from the state or federal government; 3. assist AIDC in certifying employers to be eligible for the benefits of the Arkansas Enterprise Zone Program; 4. R~~~r~ ~f~~ ~~F ~~ ~`~ APRYB~~ ,~ ~~` 1 Ca, ~. , ~, -~ amend existing regulations to supersede any local regu- lations or ordinances which may serve to discourage economic development within an enterprise zone; u. •y i ~. L '' ~ 1 5. assist AIDC in evaluating progress made in an enterprise zone within its jurisdiction; 6. waive any local sales or use tax imposed by the governing body on the purchase of the material used in the construc- tion of a building or buildings, or any addition or improve- ment thereon, for housing and legitimate business enter- prise, and machinery and equipment to be located in or in connection with such building; and 7. 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. 3. That this Resolution shall take effect immediately. DATE PASSED: ATTEST: t ~ ., - -- ,. ~ a v i ~~ ~ \ w _ ~ B~ ~_ B • ."~r~i ~. SAT/L- _ ~ ~ ~~ - ~® ` • • 1 ~~ r ~ ~ 1 ~---t t rr LL.Li~iilJ l; i ; i , ; ~ i ~ 4uw11yJ U11.1u11J LL_i~1.J Z u • y F ,~ o ~,~ ~~ a ~. ~ ©©© ~ sly i; ;;;ijiiiii .:lu11.. ~i ii i; iii i; i; ® ~ 1L .u~L~tu1..:111u~.J ~lL~u.-iIU / c .I [ + __ ~ ~ ~a :- ~•pN~ri i r O ~ ,..; r r~ :~ . \ -~...m I . R '~.. ~C T T ~_ ;~~~ TTTT I ~ I Ir ~ _ ~ ~8 Q ~ 1 ,rro~ - ~:~.M - F - L~Y Q ~ • -• .sN~~wr ~ i ~ L - . 1 - - ~ ~. r ~[ ~C I}- . --.. ~ _ .~. 1 b l y L +t; E ~ s~l ~a-.~ts..-r~-a1 ~~~ ~.-. ~~