1006
RESOLUTION N0.
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 DESIGNATING 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 far 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 area described
herein as a potential Enterprise Zone;
an area including Block Group 9, Census Tract 30h.10 bounded by
Interstate 40 on the north, the Gity Limits on the south and east,
and Walker Avenue and Club Road 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 area descrrbed above
as Enterprise Zone.
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 disignation,
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 imple-
ment 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 eligit~le for
the benefits of the Arkansas Enterprise Zone Program;
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;
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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 (streetc, etc.), changes
in local development codes that may affect the zone, etc.
3. That this Resolution shall take effect immediately.
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DATE PASSED: ~~lC I L / O ~/4~~ _ -`~_
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APR 16