RESOLUTION No. 36374

Amend the North/Northeast Enterprise Zone contract form (Resolution; amend Resolution No. 35950)

WHEREAS,  In March 1996, the Portland City Council adopted Resolution No. 35506, applying for designation of the North/Northeast Portland Enterprise Zone under the Oregon State Enterprise Zone program; and

WHEREAS,  In December 2000, the Portland City Council adopted Resolution No. 35950, approving the use of a Model Enterprise Zone Contract and authorizing the Commission to enter into an Enterprise Zone Contract with companies meeting program requirements; and

WHEREAS,  The designation of an enterprise zone does not grant or imply permission to develop land within the Zone without complying with all prevailing zoning, regulatory and permitting processes and restrictions of any and all local jurisdictions; nor does it indicate any public intent to modify those processes or restrictions, unless otherwise in agreement with applicable comprehensive land use plans; and

WHEREAS,  This Enterprise Zone and the three to five year property tax exemption that it offers for new investments in plant and equipment by eligible business firms are critical elements of local efforts to increase employment opportunities, to raise local incomes, to attract investments by new and existing businesses and to secure and diversify the local economic base; and

WHEREAS,  The Portland Development Commission manages the North/Northeast Enterprise Zone on behalf of the City of Portland and has requested an amendment to the North/Northeast Enterprise Zone Contract; and

WHEREAS,  Improvements to the North/Northeast Enterprise Zone Contract are necessary in order to better meet the Portland Development Commission’s Strategic Plan to encourage private investment in the city and the Economic Development Department’s goals of job creation and private investment; and

WHEREAS,  The amendment changes to the North/Northeast Enterprise Zone Contract will improve childcare and transportation support and increase the quality of jobs in the North/Northeast Enterprise Zone; and

WHEREAS,  The amendment changes to the North/Northeast Enterprise Zone Contract will increase production in the North/Northeast Enterprise Zone to help retain jobs; and

WHEREAS,  A meeting with the North/Northeast Economic Development Alliance was held on December 13, 2005, and that the Alliance was supportive of the proposed amendment; and

WHEREAS,  The Portland City Council are agreed to the amendment to the North/Northeast Enterprise Zone Contract (Exhibit A); and

THEREFORE, BE IT RESOLVED THAT, the Portland City Council approves the amended model contract form for use by the Portland Development Commission in the North/Northeast Enterprise Zone for companies meeting the program requirements.

BACKING SHEET INFORMATION

AGENDA NO. 110-2006

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 36374