2017-037 - Approving a Tax Abatement Agreement between the City of Paris and Campbell Soup Supply Company, LLC relating a new Plum Organics Line

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CERTIFICATE OF COMPLETION—PLUM ORGANICS LINE STATE OF TEXAS COUNTY OF LAMAR CITY OF PARIS The City of Paris, Texas has executed and delivered a Tax Abatement Agreement (the "Agreement") dated October 23, 2017, with CAMPBELL SOUP SUPPLY COMPANY, LLC, for certain improvements and other equipment (the "Improvements") to be installed at the Company's plant located in Paris, Lamar County, Texas, as described in Exhibit A attached hereto, which plant is located within an Enterprise Zone established by the United States Census in 2010. Based on information provided by Company and verified by the City, the City of Paris herein verifies that the Improvements agreed to be built, installed and used in the calendar year 2018 have in fact been completed as provided for in the Agreement and that the Company has complied with all other terms of the Agreement including those related to employment levels. NOW, THEREFORE, the City of Paris authorizes that the property described in Exhibit A attached hereto shall receive a tax abatement during each year through the end of the term the Tax Abatement Agreement equal to 100% of the taxes assessed upon the increased value of the real and personal property of the Company located in Paris, Texas, over the value at which the property was last appraised on January 1, 2017, which is the year in which the Tax Abatement Agreement was executed, as recited in the Agreement. The tax abatement will extend for a duration of ten (10) years, with the tax abatement beginning January 1, 2019, and ending December 31, 2028. APPROVED this day of Mayor ATTEST: Janice Ellis, City Clerk APPROVED AS TO FORM: Stephanie H. Harris, City Attorney