1999 AGN MAY 18 I06 - Laserfiche WebLink

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CITY COUNCIL CITY OF COLTON AGENDA REPORT For the City Council Meeting on May 18, 1999 TO: Honorable Mayor and Councilmembers APPROVAL: Henry Garcia, City Manage FROM: Robb R. Steel, Redevelopment Directo CT: Adoption of a Resolution Identifying the Census Tracts Comprising a "Targeted Employment Area" for the Agua Mansa Enterprise Zone DATE: April 27, 1999 Back2round/Discussion: In 1986, the City of Colton entered into a Joint Partnership with the cities of Riverside and Rialto and the Counties of San Bernardino and Riverside to create the Agua Mansa Enterprise Zone (EZ). The Agua Mansa Industrial Growth Association (AMIGA) is the governing body of the EZ and is comprised of an elected official from each of the five jurisdictions. The State of California established the EZ to stimulate new employment and investment in this "economically depressed" area. As part of such, businesses located in the zone are offered state tax credits. One of the incentives allows companies to earn hiring tax credits for hiring employees who are either Job Training Partnership Act (JTPA) enrolled/eligible or Greater Avenue for Independence (GAIN) enrolled. Effective January 1997, SB 2023 unifies existing EZs and Employment and Economic Incentive Areas into one program. In order to make the program requirements congruent, the State of California Trade& Commerce Agency is asking each jurisdiction to adopt a resolution identifying Targeted Employment Areas (TEA's). TEA's are areas comprised of census tracts that meet HUD's definition of low -moderate income. Under this new program, companies can earn tax credits for not only JTPA and GAIN -eligible citizens, but also for residents of TEA'S. On April 9, 1997, the City Council approved Resolution No. R-30-97, identifying Census Tracts 68, 69 and 70 within the City of Colton as TEA's. Because AMIGA is representative of five jurisdictions, the State has requested that each of the five jurisdictions approve all of the TEA'S for the entire zone. Hence, the attached resolution Item # 6 \\RDA SERVER\SHARERDA\1999 Meetings\May 18, 1999\teas.rtf