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" DO= I MFl..,i �14 J. =-- M <br />The City of Paris, Tom (herein called ft ty) is committed to enhancing the <br />encowaging new manufacturing industry and investment; to improving the City and its <br />infimstructure which attracts and supports development, and, to expanding the tax base, <br />employment opportunitic.% and the overall quality of life for its citizenry. Therefom the City will <br />give oonsidemiM on a case-by-case basis, to providing tax abatement according to state. law to <br />the owners of real property for projects which stimulate economic growth and diversifleation in <br />the City. <br />Tax aboament benefits may be made available to industrial, manufactutrin& distribution, <br />and service facilities currently in the City or locafing in the City if located in a designated <br />Eamprise Zone or Reinvestment Zone- Now facilities and stracUM as well as the expansion <br />and modernization of exisdng facilities and structure4 will be considered. Evaluation of a tax <br />abatunent request will be based on the information provided in the tax abatement application. <br />However, the City is under no obligation to provkie tax abatement to any Vplicant. <br />a) "Abatement"or "abatemanO means "tax abatement!'. which is the 0I-ntpanW— <br />exemption fmm ad valorem taxes of certain real and tangible pamnal property in a <br />Reinvestment Zone designated for econornic development purposes. <br />b) "Agreement" means the written agreement for tax abatement between a property <br />owner mWor lame and the City. <br />c) hAuthorized Factf . A MI ity may be eligible for abatement if it is a <br />R onabvt <br />evil Von Mion <br />a Facil f, a Distriion Facility. a Regional Towir <br />facility is a iNistoric WME SM11 <br />Ustrict. <br />d) "Base Yew Value" means the assessed value of eligible property as of January 1, <br />preceding the daft of execution of the agreement plus the agreed upon value of eble <br />property improvements made after January 1, but before the execution ofthe agreernent. The <br />ff.m.e Year Value may be adjusted either up or down from year to year as per renditions by the <br />r,amar County Apprai W District, <br />