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RESOLUTION NO. R-29-01 <br />1 <br />2 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />3 OF COLTON, CALIFORNIA, MAKING APPLICATION TO <br />4 EXTEND THE AGUA MANSA ENTERPRISE ZONE <br />PURSUANT TO THE PROVISIONS OF ASSEMBLY BILL <br />5 2798 WHICH BECAME THE LAW OF THE STATE OF <br />CALIFORNIA IN 1998 <br />6 <br />7 WHEREAS, the Agua Mansa Enterprise Zone was originally designated on <br />8 October 14, 1986 and established a fifteen year time limit; and <br />9 <br />n WHEREAS, the fifteen year time limit is set to expire on October 13, 2001 and <br />1111 Pursuant to Assembly Bill 2798, zones that were designated prior to 1990 may apply for a five <br />1211 year extension; and <br />1411 WHEREAS the City of Colton desires to extend the Agua Mansa Enterprise <br />151 I Zone for another five year period, and <br />1611 WHEREAS the City of Colton finds that the areas of Colton that are currently <br />17 1 in the Agua Mansa Enterprise Zone continue to be depressed and that the extension of the <br />18 <br />19 Enterprise Zone designation is necessary in order to continue attracting private sector <br />2011 investment to the Enterprise Zone area; and <br />2111 WHEREAS the City of Colton agrees to complete all the necessary actions as <br />stated in the extension application provided to the California Technology, Trade and Commerce <br />23 <br />Agency for the five year extension period; and <br />WHEREAS the City of Colton agrees to offer all incentives available as <br />indicated in the updated Economic Development Plan for the Enterprise Zone; and <br />27 <br />