2017-021 - Addendum to Tax Abatement Agreement with JS Baking, LLC

Home Browse Search

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