Granting Tax Incentive in Favor of Universal Stainless Ware Manufacturing Co., Inc.

November 18, 2019 Excerpts from the Minutes of the 18th Regular Session of the 8th City Council of Valenzuela Held on November 18, 2019 at 3:26 P.M. at the City Council's Session Hall, 3rd Floor, Legislative Building, Valenzuela City Hall, Karuhatan, Valenzuela City, Metropolitan Manila. VALENZUELA CITY ORDINANCE NO. 622-19 AN ORDINANCE GRANTING TAX INCENTIVE IN FAVOR OF UNIVERSAL STAINLESS WARE MANUFACTURING CO., INC. AND AUTHORIZING HONORABLE CITY MAYOR REXLON T. GATCHALIAN TO ENTER INTO AND SIGN THE MEMORANDUM OF AGREEMENT BETWEEN THE CITY GOVERNMENT OF VALENZUELA AND UNIVERSAL STAINLESS WARE MANUFACTURING CO., INC. Authored by: Coun. Rovin Andrew M. Feliciano Co-Authored by: Vice Mayor Lorena Natividad-Borja, Coun. Ricardo Ricarr C. Enriquez, Coun. Ramon L. Encarnacion, Coun. Jennifer Perez Pingree, Coun. Joseph William D. Lee, Coun. Walter Magnum D. Dela Cruz, Coun. Crissha M. Pineda, Coun. Kimberly Ann Galang-Tiangco, Coun. Kristian Rome T. Sy, Coun. Nia Shiela B. Lopez, Coun. Louie P. Nolasco, Coun. Chiqui Marie N. Carreon, Coun. Bienvenido S. Bartolome, Jr. and Coun. Exequiel D. Serrano WHEREAS , the General Welfare Clause in Section 16 of the Local Government Code provides that every local government unit shall exercise the powers, which are essential to the promotion of the general welfare; HTcADC WHEREAS , on October 18, 2017, the Homeowners Association of Lena and Veinte Reales Subdivisions requested the City Government of Valenzuela for the clearing of the PNR creek near their subdivisions; WHEREAS , on October 23, 2017, the CGOV , through the Public Sanitation and Cleanliness Group commenced the rehabilitation of the PNR creek; WHEREAS , at around 9:45 P.M. on November 2, 2017, the foundation of the PNR creek collapsed due to soil erosion, which was caused by heavy rain brought by Tropical Depression Ramil ; WHEREAS , due to soil erosion, the wall and structures erected along PNR creek collapsed and caused damage to properties owned by Universal Stainless Ware Manufacturing Co., Inc., evidenced by the attached Report from Public Sanitation and Cleanliness Group. The extent of damage due to aforesaid collapsed wall is estimated at Eight Hundred Thirty Two Thousand One Hundred Seventy Six Pesos and 45/100 (Php832,176.45); WHEREAS , the COMPANY, with business residence in Valenzuela City, has a legal obligation to pay business tax under Tax Ordinances No. 92-012 and 92-013, better known as the " Revenue Code of the Municipality of Valenzuela ," Books I and II on December 7, 1992, as amended; WHEREAS , Section 192 of the Local Government Code states that "Local government units may, through ordinances duly approved, grant tax incentives or reliefs under such terms and conditions as they may deem necessary"; WHEREAS , the damages caused by the soil erosion to the company will affect the employment of workers mostly residents of Valenzuela City; WHEREAS , in order to aid the adversity of the company, the City will grant tax incentive in the amount of Php416,088.25 by way of assistance which is deductible from the Business Tax liability of the Universal Stainless Ware Manufacturing Co., Inc., in the City; NOW THEREFORE , be it ORDAINED as it is hereby ORDAINED by the City Council of Valenzuela, in a session duly assembled granting tax incentives in favour of Universal Stainless Ware Manufacturing Co., Inc., in the total amount of Php416,088.25 deductible from its business permit dues and taxes for the period of 2020 up to 2025. Provisions of this Ordinance shall be implemented by the Office of the City Mayor through the issuance of an Executive Order. aScITE ENACTED. NOVEMBER 18, 2019, VALENZUELA CITY, METRO MANILA. (SGD.) HON. ROVIN ANDREW M. FELICIANO Councilor Majority Floor Leader (SGD.) HON. CRISSHA M. PINEDA Councilor Minority Floor Leader (SGD.) HON. KIMBERLY ANN GALANG-TIANGCO Councilor Asst. Majority Floor Leader (SGD.) HON. RICARDO RICARR C. ENRIQUEZ Councilor Asst. Minority Floor Leader (SGD.) HON. RAMON L. ENCARNACION Councilor (SGD.) HON. KRISTIAN ROME T. SY Councilor HON. JENNIFER PEREZ PINGREE Councilor (SGD.) HON. NIA SHIELA B. LOPEZ Councilor (SGD.) HON. JOSEPH WILLIAM D. LEE Councilor (SGD.) HON. LOUIE P. NOLASCO Councilor (SGD.) HON. WALTER MAGNUM D. DELA CRUZ Councilor (SGD.) HON. CHIQUI MARIE N. CARREON Councilor (SGD.) HON. BIENVENIDO S. BARTOLOME, JR. Councilor (President, League of Barangays) (SGD.) HON. EXEQUIEL D.J. SERRANO Councilor (President, Sangguniang Kabataan Federation) ATTESTED: (SGD.) ANTONIO R. ESPIRITU Secretary to the Sanggunian CERTIFIED CORRECT: (SGD.) HON. LORENA NATIVIDAD-BORJA City Vice Mayor Presiding Officer APPROVED: (SGD.) HON. REXLON T. GATCHALIAN City Mayor Date Signed: December 4, 2018