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Paris, Texas Economic Development Corporation <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />Full -time <br />A number of part -time jobs where the hours worked in each such job is less than 32 hours <br />Equivalent <br />per week, made available by one employer and added together. For example, sixteen <br />(M) Jobs <br />(16) part-time jobs made available by one employer where all such part-time jobs added <br />together require a total of 352 hours of work per week (but no such part -time job <br />requires 32 hours of work or more per week), will equal eleven (I 1) FTE jobs (352 <br />hours divided by 32 hours per week equal 11). FTE jobs do not require the employee to <br />receive benefits from the employer, <br />Modernization <br />The replacement and upgrading of existing facilities, which increases the productive <br />input or output, updates the technology, or substantially lowers the unit cost of <br />operation. Modernization may result from the construction, alteration or installation of <br />buildings, structures, fixed machinery or equipment, but shall not be for the purpose of <br />reconditioning, refurbishing, repairing, or deferred maintenance. <br />Personal <br />Machinery, equipment, tools, shelving or materials eligible under applicable law for tax <br />Property <br />abatement, which can be removed from an authorized facility described in Section IV <br />s. <br />pro2wy <br />Real Property or Personal Pro defined herein that is eligible for tax abatement. <br />Real Property <br />The land within an Enterprise Zone or a Reinvestment Zone, together with all <br />improvements and fixtures constructed or otherwise situated thereon. <br />Tax Abatement <br />The committee of persons designated from time to time by the Paris Economic <br />Committee <br />Development Corporation to study, review and recommend tax abatement to the <br />applicable taxing entities in the community. The Tax Abatement Committee will be <br />composed of one person from each of the City (the City Manager or designee), the <br />County of Lamar (the County Judge or designee), Paris Junior College (the President or <br />designee), the Chief Appraiser of the Lamar County Appraisal District, and the <br />Executive Director of the Paris Economic Development Corporation, <br />