Legislation # 06-0080 Enactment Number none
Type Resolution - Budget Item Effective Date none
Introduction Date 2/8/2006
Title Resolution appropriating funds from the General Fund to Zel Technology, Inc. as a Capital Investment Grant pursuant to the City of Hampton Technology Zone Program
 
Legislation History 06-0080
DateNotice Of ActionDescription
2/8/2006 Approved Items 1 and 3 through 9 on the Consent Agenda.
1/28/2006 Received By Clerk's Office
 
View Attachments 06-0080
FileTypeSizeDescription
12-113-05 CoR MemoZelTech.pdf Memorandum 33K Memorandum from the Commissioner of Revenue
 
Legislation Text 06-0080

 

City of Hampton, Virginia

Resolution - Budget Item

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 06-0080

 

Enactment Number: -

 

Resolution appropriating funds from the General Fund to Zel Technology, Inc. as a Capital Investment Grant pursuant to the City of Hampton Technology Zone Program

 

WHEREAS, the City Council established the City of Hampton Technology Zone Program and three Technology Zones; one in the downtown area, one in the Hampton Roads Center area, and one in NetCenter;

WHEREAS, the City of Hampton provides three incentives to encourage qualified technology businesses to expand, relocate, or start-up operations within its technology zones; Exemption from City Fees; Reduction in Business License Tax; and Capital Investment Grants;

WHEREAS, the Industrial Development Authority of the City of Hampton (the Authority) administers the Program and determines, inter alia if qualified technology businesses within the Technology Zone meet the criteria for qualification to receive one or more of the three incentives available under the Program; and

WHEREAS, by Resolution adopted on January 17, 2006, the Authority has determined that Zel Technology, Inc. has met criteria for qualification and is eligible to receive a capital investment grant in the amount of $4,460.05 to be paid from the General Fund.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Hampton, Virginia that the sum of $4,460.05 be appropriated from the General Fund and paid to Zel Technology, Inc, as a capital investment grant pursuant to the City of Hampton Technology Zone Program.

Adopted at a regular meeting of the City Council of the City of Hampton, Virginia held on February 8, 2006.

 

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council