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(Updated 1-11-16) <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />mandated by state law under the PropoV Redevelopment and Tax Abatement Act prior to the <br />designation of a reinvestment zone and execution of a tax abatement agreement. <br />2. The lead Taxing Jurisdiction (typically the City of Paris) may adopt an ordinance designating a <br />tax abatement reinvestment zone only after notice of a public hearing has been published at <br />least seven (7) days before the date of the hearing, and all other procedural requirements of <br />Tax Code have been satisfied. <br />In order to enter into an agreement the Taxing Jurisdictions must find that - <br />The terms of the proposed agreement comply with these Policies, Criteria and <br />Guidelines. <br />2. There will be no substantial adverse cffba on the provision of Taxing Jurisdictions' services <br />or tax base. <br />3, That the planned use of the property will not constibite a hazard to public safi*, health or <br />morals. <br />4. incident to approval of any ordinance designating a reinvestment zone, the Taxing <br />Junsdictons shall find that the improvements sought am feasible and practical and would be a <br />benefit to the Imid to be included in the ,;n -,44 zone and to the Taxing Jurisdictions <br />aft" the <br />E <br />WO <br />N *;, �5 M VE= 'A <br />MA <br />hi shall the term <br />,To �&&pti(w-pW % �toggy__e_r_ that in no event of an., <br />an <br />Maw= M <br />sh7:11 require the affirmative vote of 'f ",4 (3/4) of the members of each of the Taxing <br />j urisdictionsi !n ody. <br />does not limit <br />The adoption of these Policies, Criteria and Guidelines by the Taxing Jurisdictions <br />the discretion of the Taxing Jurisdictions' governing bodies to decide whether to enter into a <br />specific tax abatement agreemcnL Nor does it linut their discretion to delegate to their employees <br />articular <br />the authority to determine whether or not the Taxing Jurisdiction should consider a p <br />application or request for tax abatemient, or create any property, contract, or other legal nght in anY <br />person or entity to have the Taxing Jurisdiction consider or grant a specified application or request <br />for tax abatement <br />V1111. Abatement Agreement Terms and Conditions. <br />Appendix B provides many of the terms and conditions to be included in any formal tax <br />abatement legal agreement. <br />IX. Amendments to Policies, Criteria and Guidelines <br />These Policies, Criteria and Guidelines are effective for a two (2) year period from the date of <br />their adoption, unless amended earlier by the affirmative vote of three-fourths (3/4) of the <br />members of each governing body (City, County, <br />Paris Economic Development Corporation <br />1125 Bonham Street I <br />Paris, Texas 75460 <br />how 903-78446964 <br />Fax: 903-784-2503 <br />Website: wwyw.p, <br />Iristexasusaxom <br />0 <br />