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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-108-06 <br />RESOLUTION OF THE CITY OF COLTON APPROVING A CERTAIN MEMORANDUM OF <br />UNDERSTANDING IN CONNECTION WITH AN APPLICATION TO THE STATE OF <br />CALIFORNIA FOR THE DESIGNATION OF AN ENTERPRISE ZONE WITHIN A PORTION <br />OF ITS TERRITORIAL JURISDICTION <br />WHEREAS, the City of Colton by the adoption of this Resolution hereby authorizes <br />the preparation and submittal of a formal Application to the State of California, Department of <br />Housing and Community Development, for the designation of an Enterprise Zone in <br />participation with City of San Bernardino, County of San Bernardino and Inland Valley <br />Development Agency (IVDA) for the approximately 14,630 acre area as illustrated on and <br />further described in the Exhibit "A" as attached hereto together with the map of the proposed <br />Enterprise Zone ( such area is referred to herein as the "Application Area"); and <br />WHEREAS, the Application Area is an economically depressed, blighted <br />I commercial/industrial and residential area characterized by chronically high levels of <br />I unemployment which is in need of an Enterprise Zone designation in order to attract new <br />I private sector investment to such Application Area; and <br />WHEREAS, the City of Colton authorizes and supports job development, job creation <br />and economic development, and City of Colton has determined that the designation as an <br />Enterprise Zone would make available a range of State of California tax and employment <br />hiring tax credits that would create incentives for businesses to invest in new or upgraded <br />facilities and to establish new employment opportunities within the Application Area for the <br />benefit of the region; and <br />WHEREAS the City of Colton by the adoption of this Resolution authorizes the staff I <br />of the Economic Development Department to be available on an as -needed basis to maintain <br />record keeping, monthly updates on the proposed Enterprise Zone activities, and to discuss <br />these activities with program auditors and representatives and administrators from the State <br />of California as part of the Application process for the Application Area; and <br />1 <br />