HomeMy Public PortalAbout2006-150 (08-15-06)RESOLUTION NO. 2006.150
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD TO APPLY
FOR ENTERPRISE ZONE DESIGNATION
WHEREAS, the State of California provides performance based tax credits and
incentives to Enterprise Zone businesses to promote Smart Growth by revitalizing
chronically deteriorated areas, hire the most difficult to hire residents in private sector
jobs, and retain, expand and reward businesses that participate in these objectives; and
WHEREAS, an Enterprise Zone is a geographical area in which companies are
eligible for exclusive incentives and programs including tax credits for sales and use
taxes paid on qualified machinery purchases, tax credits for hiring qualified employees,
interest deductions for lenders on loans to firms within the areas, fifteen year net
operating loss carry forward, accelerated expense deduction, and priority for various
State programs, such as State contracts; and
WHEREAS, the City of Lynwood understands and acknowledges that the
application for Enterprise Zone Designation is amulti-jurisdictional application and that
the Zone includes geographic areas within the City of Lynwood as well as within the City
of South Gate; and
WHEREAS, the City of Lynwood desires to apply for Enterprise Zone
designation and as part of the application for Enterprise Zone designation is required to
declare certain findings.
NOW, THEREFORE the City Council of the City of Lynwood does hereby resolve
as follows:
Section 1. The application area within the City of Lynwood is depressed and
that designation of the area as an Enterprise Zone is necessary in order to attract
private sector investment to the application area.'
Section 2. The City Council of the City of Lynwood authorizes the application
for Enterprise Zone Designation.
Section 3. .The City of Lynwood authorizes and supports job development, job
creation, and economic development.
Section 4. The City of Lynwood authorizes that staffing shall be made
available to maintain record keeping, monthly updates on zone activities, and to discuss
these activities with program auditors.
Section 5. The City of Lynwood shall develop a self evaluation process to
measure its progress in meeting its goals and objectives; and said process shall be
submitted to the California Department of Housing and Community Development for
review, approval and inclusion in a Memorandum of Understanding (MOU) prior to Final
Designation.
Section 6. The City of Lynwood agrees to complete all actions stated within
the application that apply to its jurisdiction should the proposed Enterprise Zone be
awarded designation.
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Section 7. That the City Manager of the City of Lynwood or his designee is
hereby authorized to sign the application, the MOU and other documents necessary for
the implementation of the Enterprise Zone.
Section 8. This Resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED and ADOPTED this 15~h day of August 2006.
ATTEST:
~~
er Espi Ya. erg
Deputy City Clerk
APPROVED AS TO FORM
City Attorney
cia Vasquez, Mayor
- ~~
N. En ' ue amine City Manager
APPROVED AS TO CONTENT:
William Rawlings
Redevelopment Director
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
foregoing Resolution was passed and adopted by the City Council of the City of
f Lynwood at a regular meeting held on the 15th day of AUGUST , 2006.
1 AYES: COUNCILMEMBERS, BYRD, JOHNSON, PEDROZA, SANTILLAN, AND VASQUEZ
NOES: NONE.
ABSENT: NONE
ABSTAIN: NONE
~, ~/ 4
~ert~Es"pffi~~a ~k
Deputy City Clerk
STATE OF CALIFORNIA )
SS.
.COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City
Council of said City, do hereby certify that the above foregoing is a full, true and correct
copy of Resolution No. 2006.150 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated.
Dated this 15th day of AUGUST , 2006.
lei
AlA1 bert~Es~pipoza
Deputy City Clerk