R-027-13 Adopting Updated Census Tracts Comprising the Targeted Employment Areas for SBVEZ

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. R-27-13 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, ADOPTING UPDATED CENSUS TRACTS COMPRISING THE "TARGETED EMPLOYMENT AREAS" FOR THE SAN BERNARDINO VALLEY ENTERPRISE ZONE WHEREAS, the City of Colton, by adoption of Resolution No. R-108-06 on August 15, 2006, authorized a formal application to the State of California Department of Housing and Community Development ("HCD") for the designation of the San Bernardino Valley Enterprise Zone ("SBVEZ") in participation with the City of San Bernardino, County of San Bernardino and the Inland Valley Development Agency ("IVDA"); and WHEREAS, on March 5, 2009, HCD issued the SBVEZ its final designation, retroactive to October 15, 2006; and WHEREAS, the City of Colton has determined that the Enterprise Zone would make available a range of State of California tax credits that would create incentives for businesses to invest in new or upgraded facilities and to establish new employment opportunities within the SBVEZ for the benefit of the region; and WHEREAS, hiring tax credits available through the Enterprise Zone program include several eligible groups including, but not specifically limited to: persons receiving public assistance or subsidized employment or training services, economically disadvantaged individuals, disabled individuals or veterans, ex -offenders, persons of Native American descent, or residents of a "Target Employment Area"; and WHEREAS, Government Code Sections 7070-7089 require listing Targeted Employment Areas ("TEAs"), which are census tracts that have at least 51% of their residents at low- or moderate -income levels, for the purpose of encouraging the hiring of eligible residents within these geographical areas of an Enterprise Zone; and WHERAS, HCD has determined that the eligible census tracts for TEAs will be established by using data in the American Community Survey Five Year Averages, and will be updated annually; and WHEREAS, Government Code Sections 7070-7089 require governmental entities that have territorial jurisdiction over any part of each eligible census tract within the Enterprise Zone to approve the TEA boundaries by resolution or ordinance. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON DOES HEREBY RESOLVE AND FIND AS FOLLOWS: