RES NO 07-06-1986 fl \t'1c1
CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. 7 -1986
A RESOLUTION DESIGNATING WESTERN ARKANSAS PLANNING AND DEVELOPMENT DISTRICT, INC. TO
ASSIST THE CITY OF VAN BUREN IN THE ADMINISTRATION OF THE ARKANSAS ENTERPRISE ZONE
PROGRAM IN VAN BUREN.
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WHEREAS, The City of Van Buren has applied for and received from the State
designation of areas within the City as Arkansas Enterprise Zones
as provided by the Arkansas Enterprise Zone Act of 1983, as amended;
and
WHEREAS, The City recognizes the importance of the Enterprise Zone Program
to stimulate business and industrial growth in depressed areas of
the City by providing assistance to business and industries and by
providing tax incentives in these areas and to create employment
opportunities, particularly for unemployed and disadvantaged persons;
and
WHEREAS, The City also recognizes the importance of assisting business and
industries in certifying for the Enterprise Zone Program and comply-
ing with the Program's regulations.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VAN BUREN, ARKANSAS:
THAT, The City of Van Buren, Arkansas, requests and authorizes Western
Arkansas Planning and Development District, Inc., to assist the City
in the administration on the Arkansas Enterprise Zone Program in Van
Buren, including assisting businesses in qualifying for the Program
and complying with its regulations and advising the City in matters
relating to the Program.
THAT, In consideration of services rendered by WAPDD to the City and the
businesses relating to assistance in the administration of the
Enterprise Zone Program, each business in the City of Van Buren
which begins participating in the Enterprise Zone Program henceforth
shall compensate WAPDD by the payment to WAPDD of an amount not to
exceed ten percent (10%) of the business tax credits.
BE IT FURTHER RESOLVED that the City understands that any monies received by WAPDD in
this regard will be credited by WAPDD annually against local dues
payable by the City to WAPDD and ARPC.
PASSED AND APPROVED THIS 21st DAY OF July 19 86
MAYOR
ATTESTED;
CI�T CLERK- TREASURER