|
<br />RESOLUTION NO. 99-037
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 13th day of
<br />April, 1998, pass Ordinance No. 98-018, establishing Reinvestment Zone No. Five in the City
<br />of Paris for commercial and industrial tax abatement as authorized by the Property Redevelopment
<br />and Tax Abatement Act, as amended, being V.T.C.A. Tax Code, Chapter 312; and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 13th day of
<br />April, 1998, in Resolution No. 98-046, authorize the execution of a Tax Abatement Agreement
<br />with H-W Commercial Warehouse, Inc., which Agreement was assigned to Paris Warehouse 107,
<br />Inc.; and,
<br />
<br />WHEREAS, the Tax Abatement Agreement provides for the abatement of real and
<br />personal property taxes for a period of seven (7) years in consideration of the creation of twenty-
<br />two (22) new, permanent jobs; and,
<br />
<br />WHEREAS, H-W Commercial Warehouse, Inc. has requested that ownership of that
<br />portion of 13th Street S.W. lying within the Southwest Industrial Park be transferred to it in
<br />consideration of the creation by We-Pack Logistics, Inc. of eight (8) additional new, permanent
<br />jobs, the retention by We-Pack Logistics, Inc. of one hundred (100) permanent jobs for a period
<br />of ten (10) years, and the retention by Paris Warehouse 107, Inc. of twenty-two (22) permanent
<br />jobs for an additional period of three (3) years after the expiration of the aforementioned Tax
<br />Abatement Agreement; and,
<br />
<br />WHEREAS, taking into consideration the following facts: (1) the owners of H-W
<br />Commercial Warehouse, Inc., Paris Warehouse 107, Inc., and We-Pack Logistics, Inc. originally
<br />built, at their own expense, 13th Street S.W. prior to the same being dedicated to the City of
<br />Paris; (2) the only property served by 13th Street S.W. is the Southwest Industrial Park, which
<br />is wholly owned by H-W Commercial Warehouse; (3) returning the street to private ownership
<br />will result in the City of Paris not being responsible for the maintenance thereof; and, (4)
<br />returning the street to private ownership will result in the same being placed on the tax rolls; it
<br />is deemed appropriate that such ownership be transferred for the consideration above-stated; and,
<br />
<br />WHEREAS, the form of the Incentive Agreement, attached hereto as Exhibit A, should,
<br />in all things be approved, and the Chairperson, Mary Ann Fisher, should be authorized the
<br />execute the same; NOW, THEREFORE,
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the
<br />form of the Incentive Agreement with Paris Warehouse 107, Inc., We-Pack Logistics, Inc., and
<br />other affiliates thereof, attached hereto as Exhibit A, be, and the same is hereby, approved; and,
<br />
<br />BE IT }'URTHER RESOLVED, that the Chairperson, Mary Ann Fisher, be, and be is
<br />hereby, authorized and directed to execute, on behalf of the City of Paris, the Incentive
<br />Agreement, under the terms and conditions and in the form shown in Exhibit A, attached hereto.
<br />
|