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Public Hearing: Consideration of an Ordinance of the City Council of the City of Lewisville, Texas, Authorizing the City of Lewisville to Participate in the Texas Enterprise Zone Program Pursuant to the Texas Enterprise Zone Act, Chapter 2303, Texas Government Code (“Act”), Identifying Available Tax Incentives, Designating a Liaison for Communication with Interested Parties, Nominating Caliber Bodyworks of Texas LLC to the Office of the Governor, Economic Development and Tourism Through the Economic Development Bank (“Bank”) as an Enterprise Project (“Project”); Providing an Effective Date; and Declaring an Emergency.
request
ADMINISTRATIVE COMMENTS:
Caliber Bodyworks of Texas, Inc. (“Caliber”) has submitted a request to staff asking that the City Council consider an ordinance that (1) authorizes the City to participate in a Texas Enterprise Zone Program pursuant to the Texas Enterprise Zone Act, Chapter 2303, Texas Government Code, and (2) nominates Caliber for designation by the Governor's Office of Economic Development and Tourism as a Texas enterprise project. Caliber’s headquarters and corporate call center are located at 2941 Lake Vista Drive. Caliber plans to make a capital investment of $5,000,000, retain 452 jobs, and create 10 new jobs, making them a competitive candidate for the Texas Enterprise Zone Program. The Act requires that a public hearing be held before adopting an ordinance or order for identification of local incentives. For this state program, there is no fiscal impact to the City of Lewisville if Caliber is awarded the designation.
RECOMMENDATION:
That the City Council approve the ordinance as set forth in the caption above.