HomeMy WebLinkAboutRES NO 08-88RESOLUTION NO.
8-88
RESOLUTION OF THE COUNCIL OF THE CITY
OF BAKERSFIELD SUPPORTING THE
REINSTATEMENT OF THE 15 YEAR TERM OF
THE STATE TAX INCENTIVES FOR EMPLOYMENT
AND ECONOMIC INCENTIVE PROGRAM AREAS
WHEREAS, the State of California adopted Assembly Bill
540 in 1984 permitting the designation of Employment and Economic
Incentive Program Areas within the State; and
WHEREAS, the legislation included state tax incentives
allowable to qualified businesses and industries located within
or relocating from elsewhere into the area within the certain and
specific boundaries of the Program Areas for a 15-year period;
and
WHEREAS, the City of Bakersfield and the County of Kern,
as joint applicants, have been designated collectively as the
an Employment and Economic Incentive Program
administrators of
Area; and
WHEREAS,
the City and County have expended a con-
siderable amount of funds in advertising and marketing the
Program Area; and
WHEREAS, the
Reform Act of 1986 on
state tax conformity to the Federal Tax
"enterprise zones" as presented in Assembly
Bill 53 and Senate Bill 572 sunsets the Program Area incentives
effective January 1, 1993, thereby substantially reducing the
life of the program; and
WHEREAS, the City of Bakersfield and the County of Kern,
have long range negotiations pending that depend on the state tax
incentives being available as originally legislated in the
Employment and Economic Incentive Act.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of
the City of Bakersfield, that the Council does hereby support
and encourage the reinstatement of the 15-year tax incentives
for businesses which locate or expand within the targeted area.
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I HEREBY CERTIFY that the foregoing Resolution was passed and
adopted by the Council of the City of Bakersfield at a regular meeting
thereof held on the 3rd day of February , 1988,
by the following roll call vote:
AYES: COUNC!I.MF~3Fi~qS: C~11LOS, DcMONO, ~,I~q'#,=I~L~'~'Y. PET.~:.~GON, ~t~-',RMO~T ~JALYAGGIO
NOES: C0U~ClL~;~i~£i;S: SMITH, RATTY, MCDERMOTT
ABSENT; C0UNCILMEMS~RS: None
ABSTAINING: C0UNClLMEMBER$: None
APPROVED February 3, 1988
CITY CLERK and Ex Officio Clerk of the
Council of the City of Bakersfield
MAYOR of the City of sf~eld
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INT'RIMCITY A~'TORNEY o~he '~ ~f Bakersfield
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