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10324i 363 1 RESOLUTION NO. 10,324 2 3 A RESOLUTION ENDORSING THE EMPOWERMENT 4 ZONE ENHANCEMENT ACT OF 1998. 5 6 WHEREAS, under the leadership of President Bill Clinton, Vice President Al Gore, 7 and Secretary Andrew Cuomo, the Empowerment Zone/Enterprise Community ( "EZ/EC ") 8 Initiative continues to function as a powerful engine fueling economic renewal nationwide; 9 and 10 WHEREAS, the EZ/EC Initiative has leveraged private investment, created jobs that 11 have been filled by people who have not had access to economic opportunity, provided job 12 training and educational opportunities for EZ /EC residents, constructed or rehabilitated 13 housing units; and 14 WHEREAS, the EZ/EC Initiative has brought together important community 15 partners, including businesses, representatives from government, philanthropic institutions, 16 nonprofits, faith- based institutions, and educational institutions, and residents, to implement 17 a plan for comprehensive revitalization in their communities; and 18 WHEREAS, local government continue to use the EZ/EC Initiative to jumpstart 19 growth and development in their most distressed communities; and 20 WHEREAS, the second round of Empowerment Zones has been authorized by 21 Congress in the Taxpayer Relief Act of 1997 and fifteen new urban zones will be designated 22 by January 1, 1999; and 23 WHEREAS, the Act provided for limited business tax incentives for these zones but 24 did not provide the flexible SSBG grant funding necessary to develop a comprehensive 25 approach to revitalization; and 26 WHEREAS, Title XX SSBG funds have been an integral component of EZ/EC 27 programs, allowing for a source of flexible, performance- oriented funding to support a 28 holistic strategy for community revitalization; and • • '20A 1 WHEREAS, "The Empowerment Zone Enhancement Act of 1998," was introduced in 2 the Senate as 5.1927 on April,2, 1998, and was introduced in the House as H.R. 3622 on 3 April 1, 1998, and amends the Taxpayer Relief Act of 1997 by making available $1.5 billion 4 to the Secretary of the Department of Housing and Urban Development for grants to a second 5 round of fifteen urban Empowerment Zones. 6 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS 7 OF THE CITY OF LITTLE ROCK, ARKANSAS: 8 SECTION 1. The Board of Directors, supports the Administration's budget request 9 of a $1.5 billion increase in the Title XX SSBG funds to provide for grants to the second 10 round of fifteen urban Empowerment Zones and Enterprise Communities. 11 12 Adopted: August 4, 1998 13 14 15 Attest: 16 17 18 L, 1.k11: A, NhA AQ _ 19 Robbie Hancock, City Clerk 20 21 22 Approved as to Legal Form: 23 24 25 Thomas M. Carpenter, City Attorney 26 27 Approved: /VVt I�.CGK— l� Jim Dailey, Mayor