1986-01-01-R - Laserfiche WebLink

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NO. • RESOLUTION FOR ARKANSAS ENTERPRISE ZONE PROGRAM _ RESOLUTION STATING CITY OF BATESVILLE'S INTEREST IN PARTICIPATION IN THE ARKANSAS ENTERPRISE PROGRAM AND DESIGNATION OF SUC ENTERPRISE ZONE IN BATESVILLE AND TO OTHERWISE PROVIDE WITH RESPE T THERETO WHEREAS, the Arkansas Enterprise Zone Act of 1983, Act 740 was enacted by the Arkansas General Assembly, and WHEREAS, the Arkansas Enterprise Zone Program offers significant incentives for economic development and revitilization to some of the most distressed areas in the city, and WHEREAS, the Arkansas Industrial Development Commission (AIDC) has designated certain Enumeration Districts in Batesville and Independence County as eligible enterprise zones, based on demographic and economic factors, and WHEREAS, the Quorum Court of Independence County has approved the surrender of ED 1134 to the city for substitution. WHEREAS, the city requests that Enumeration District #1145 be designated enterprise zone for the purpose of implementing the Arkansas Enterprise Zone Program, and WHEREAS, in accordance with the Arkansas Enterprise Zone Program requirements the City of Batesville agrees to: 1. apply for enterprise zone designation using only forms (or copies of such) . 2. provide all requested information required pertaining to the potential enterprise zone under consideration, to AIDC. 3. hold at least one public hearing on the application for enterprise zone designation. 4. assume a local commitment to provide, or undertake, the following: a. analysis of the adequacy of police protection within the proposed zone, and if necessary, devise and implement a plan for improvement thereof; b. give priority to the use, within the proposed zone, of any employment training or community development funds received from the state or federal government;