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Item No. 13 <br />memorandum <br />TO: City Council <br />John Godwin, City Manager <br />FROM: Stephanie H. Harris, City Attorney <br />SUBJECT: Tax Abatement Agreement for Potters Industries, L.L.C. <br />DATE: July 18, 2016 <br />BACKGROUND: City Council approved moving forward with a tax abatement for Potters <br />Industries, LLC ( "Potters ") on April 25, 2016. Potters plans to build a warehouse and to install <br />machinery and equipment for a total investment of approximately $5,250,000.00. <br />Potters seeks a ten year abatement at 100% of taxes related to these improvements. <br />STATUS OF ISSUE: Pending City Council approval of tax abatement agreement. <br />BUDGET: Ten year abatement on new warehouse and equipment and machinery. <br />RECOMMENDATION: Motion to approve tax abatement agreement between City of Paris and <br />Potters Industries, LLC. <br />