11 - Resolution Approving Agreement to Terminate Tax Abatement Agreement with Campbell Soup

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(Updated 1-11-16) POLICY STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT mandated by state law under the Property Redevelopment and Tax Abatement Act prior to the i designation of a reinvestment zone and execution of a tax abatement agreement. The lead Taxing Jurisdiction (typically the City of Paris) may adopt an ordinance designating a F:.... abatement reinvestment zone only after notice of a public hewn has been published at least seven (7) days befive the date of the hearing, and all other procedural requirements of Chapter 312 of the Texas Tax Code have been satisfied. T.I114 rder to enter into an agreement, the Taxing Jurisdictions must find that: I . The tearis of the proposed agreement comply with these Policies, Criteria and Guidelines. 2. There will be no substantial adverse effrct on the provision of Taxing Jurisdictions' services or tax base. 3. That the planned use of the property will not coristitute a I: i11. to public safety, health or morals. 4. Incident to approval of any ordinance dengriating a reinvestment zone, the Taxing Jurisdictions shall find that the improvements sought are feasible and practical and would be a benefit W the land to be included f- reinvestment zone and to the Taxing Jurisdictions after the "x iration of the gveement Requests for variance from the provisions of these Policies, Criteria and Guidelines may be made in writing to the Taxing Jurisdons; provided, however, that in no event shall the terzn of any abatement exceed the period audaued by applicable state law. Such request &hall include a complete description of the circumstances requiring a varia=. Approval of a request fDr variance shall require the afflumative vote of thrm-fourths (3/4) of the members of each of the Taxing Jurisdictions' governing body� I 1 A person or entity to have the Twang Jurisdiction consider or grant a speced application or request for tax abatement. VIII. Abatement Agreement Terms and Conditions. Appendix B provides many of the terms and conditions to be included in any foffnal tax abatement legal agreement. DL Amendments to Policies, Criteria and Guidelines These Policies, Criteria and Guidelines are effective for a two (2) year period from the date of their adoption, unless amended earlier by the affinmative vote of fluee-fourths (3/4) of the membm of each governing body (City, County, PJC). AMfT=77 17= 774# Economic Development Corporation 1125 Bonham Street Paris, Texas T�&, 60 Pbo w 903-7844W Fax: 903-784-2503 Website: ww aristexasusa.com n -I[ 0