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MR. I' <br />RESOLUTION <br />RESOLUTIONPARIS, <br />DEVELOPMENTAPPROVING AN ECONOMIC INCENTIVE PACKAGE FROM THE PARLON <br />ECONOMIC CORPORATION ` O <br />AUTHORIZING AND DIRECTING» PREPARE <br />»rr , <br />TAX ABATEMENT AGREEMENT' BETWEEN THE CITY AND <br />AUTHORIZING <br />» i.. DIRECTOR <br />DEVELOPMENT OF COMMUNITY <br />N CERTIFYAPPLICATION AN <br />TO THE TEXAS ENTERPRISE FUND; MAKING OTHER FINDINGS AND <br />PROVISIONS RELATED M D DECLARING <br />EFFECTIVE DATE. <br />WHEREAS, pursuant to the bylaws of the PEDC, the City Council shall review and <br />approve all economic incentive projects involving an expenditure in excess of $400,008O0.0i1 <br />and <br />WHEREAS, <br />business of <br />a company engaged in the <br />seeks to invest $6Q,0P0,i 07 0.0'O to build and operate a <br />plant which will employ 100 people; and <br />WHEREAS, Paris, Texas is one of the top two finalists as a location. for the <br />above -referenced investment; and <br />"WHEREAS, the Paris Economic Development Corporation ("PEDC") and the City of <br />Paris desire to induce to locate said plant operation in Paris, <br />Texas because of the positive economic impact and job base that the p'roje'ct will bring to <br />the area; and <br />WHEREAS, in a special meeting on. December 1, 2017, the PEDC voted to send to <br />City Council for approval an offer of an economic incentive package to <br />in the approximate amount of $1,283,0'00 .00 as an incentive for <br />American Spiral Weld to locate their proposed plant in Paris, Texas; and <br />WHEREAS, in addition to the economic incentives offered by the PEDC, the City <br />Council wishes to offer the further inducement of a tax abatement on improvements on real <br />property, and <br />WHEREAS, the City Council also desires to support "s <br />application to the Office of the Governor for a grant from the Texas Enterprise Fund; and <br />WHEREAS, the City Council hereby finds that it is in the best interest of the City to <br />approve the PEDC's offer to of an economic incentive <br />package as set forth in Exhibit A hereto; to approve a tax abatement as set forth herein; <br />and to support the company's application to the Texas Enterprise Fund; <br />