0971
RESOLUTION N0. ~ ~ I
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WEST MEMPHIS STATING THE INTEREST OF THE
CITY OF WEST MEMPHIS IN PARTICIPATING IN THE
ARKANSAS ENTERPRISE ZONE PROGRAM AND DESIGNAT-
ING ENTERPRISE ZONES IN WEST MEMPHIS, CRITTEN-
DEN 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 riemphis; 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 including Block Group 5, Census Tract 303 roughly bounded by
Polk Avenue and Jefferson Avenue on the north; the City Limits on the
south; Woods Street and South 8th Street on the east; and South Avalon
on the west (see attached map)
an area including Block Group S, Census Tract 304 roughly bounded by
Monroe Avenue on the north; the railroad tracks south of Jefferson
Avenue on the south; South 12th and South 13th Street on the east;
and South 7th Street and South 8th 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;
2. give priority to the use, within the proposed zone, of
and 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;
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4. amend existing regulations to supersede any local regu-
lations or ordinances which may serve to discourage
economic development within an enterprise zone;
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 im-
provement thereon, for housing and legitimate business
enterprise, 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: / ~ ~~ ~~~ ` "
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UL 16 19~R
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