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8244I 2 RESOLUTION NO. 8,244 3 4 A RESOLUTION STATING THE CITY OF LITTLE ROCK'S 5 INTEREST IN PARTICIPATION IN THE ARKANSAS 6 ENTERPRISE ZONE PROGRAM AND DESIGNATION OF 7 CERTAIN ENTERPRISE ZONES IN LITTLE ROCK; AND OTHER 8 PROVISIONS RELATED THERETO. 9 10 WHEREAS, the Arkansas Enterprise Zone Act of 1983, Act 11 740 was enacted by the Arkansas General Assembly, and 12 WHEREAS, the Arkansas Enterprise Zone Program offers 13 significant incentives for economic development and 14 revitalization to some of the most distressed areas in the 15 City, and 16 WHEREAS, the Arkansas Industrial Development Commission 17 (AIDC) has designated certain Enumeration Districts and 18 Census Block Groups in Little Rock as eligible Enterprise 19 Zones, based on demographic and economic factors, and 20 WHEREAS, the City requests that Block Group 9, Census 21 Tract 41.03 and Block Group 9, Census Tract 42.04 be 22 substituted for Block Group 2, Census Tract 6 and Block 23 Group 3, Census Tract 6, respectively, and that said Block 24 Group 9, Census Tract 41.03 and Block Group 9, Census Tract 25 42.04 be designated zones for the purpose of implementing 26 the Arkansas Enterprise Zone Program, and 27 WHEREAS, in accordance with the Arkansas Enterprise 28 Zone Program requirements, the City of Little Rock agrees 29 to: 30 1. apply for Enterprise Zone designation using only 31 approved forms (or copies of such), 32 2. provide all requested information required 33 pertaining to the potential Enterprise Zone under 34 consideration, to AIDC, 35 3. hold at least one public hearing on the 36 application for Enterprise Zone designation, 12 M M M M M M M M 0 M M M M M M 0 1 2 4. assume a local commitment to provide, or undertake 3 the following: 4 a. analysis of the adequacy of police protection 5 within the proposed zone, and, if necessary, 6 devise and implement a plan for improvement 7 thereof; 8 b. give priority to the use, within the proposed 9 zone, of any employment training or community 10 development funds received from the state or 11 federal government; 12 C. assist AIDC in certifying employers to be 13 eligible for the benefits of the Arkansas 14 Enterprise Zone Program; 15 d. amend existing regulations to supersede any 16 local regulations or ordinances which may 17 serve to discourage economic development is within an Enterprise Zone; 19 e. assist AIDC in evaluating progress made in an 20 Enterprise Zone within its jurisdiction; 21 f. waive any local sales or use tax imposed by 22 the governing body on the purchase of the 23 material used in the construction of a 24 building or buildings, or any addition or 25 improvement thereon, for housing any 26 legitimate business enterprise, and machinery 27 and equipment to be located in or in 28 connection with such building; and, 29 g. to keep AIDC informed whenever changes occur 30 within the ione, i.e., an establishment goes 31 out of business, is destroyed by fire, flood, 32 etc., new development takes place within the 33 infrastructure (streets, etc.), changes in 34 local development codes that may affect the 35 zone, etc. 36 13 M M 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 0 0 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS: SECTION 1. That the City will participate in the Arkansas Enterpise Zone Program and request designation by. the Arkansas Industrial Development Commission of the aforementioned geographic areas as Enterprise Zones. SECTION 2. That if any provision or item of this resolution or the application thereof is held invalid, such invalidity shall not affect other provisions, items or applications of this resolution which can be given effect without the invalid provisions, items or applications and to this end the provisions of this resolution are hereby declared severable. SECTION 3. That all resolutions or parts thereof in conflict herewith are repealed. ADOPTED: January 16, 1990 ATTEST: APPROVED: AfF• -