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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 />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-25-09 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON, CALIFORNIA, ADOPTING THE CENSUS TRACTS <br />COMPRISING THE "TARGETED EMPLOYMENT AREAS" FOR <br />ALL JURISDICTIONS OF THE SAN BERNARDINO VALLEY <br />ENTERPRISE ZONE <br />WHEREAS, the City of Colton by adoption of Resolution No. R-108-06 on August <br />15, 2006 authorized a formal application to the State of California, Department of Housing <br />and Community Development ("HCD") for the designation of the San Bernardino Valley <br />Enterprise Zone ("SBVEZ") in participation with the City of San Bernardino, County of San <br />Bernardino and the Inland Valley Development Agency ("IVDA"); and <br />WHEREAS, on March 5, 2009 HCD issued the SBVEZ its final designation, <br />retroactive to October 15, 2006; and <br />WHEREAS, the City of Colton has determined that the Enterprise Zone would <br />make available a range of State of California tax and employment hiring tax credits that <br />would create incentives for businesses to invest in new or upgraded facilities and to establish <br />new employment opportunities within the Application Area for the benefit of the region; and <br />WHEREAS, hiring tax credits available through the Enterprise Zone program <br />include several eligible groups including, but not specifically limited to: persons receiving <br />public assistance or subsidized employment or training services, economically <br />disadvantaged individuals, disabled individuals or veterans, ex -offenders, persons of Native <br />American descent, or residents of a Target Employment Area; and <br />WHEREAS, Government Code Sections 7070-7089 require listing Targeted <br />Employment Areas ("TEAs"), which are census tracts that have at least 51% of their <br />residents at low- or moderate -income levels, for the purpose of encouraging the hiring of <br />eligible residents within the geographical areas of an Enterprise Zone; and <br />