19 - Resolution Approving an Additional 40 Acres for American Spiral Weld (2)

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Draft A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING A REVISION TO AN OFFER BY THE PARIS ECONOMIC DEVELOPMENT CORPORATION TO AMERICAN SPIRALWIRE PIPE COMPANY, LLC TO PROVIDE THE OFFER OF FORTY (40) ACRES OF LAN TO BE ADDED TO THE ONE HUNDRED AND ONE (101) ACRES APPROVED DECEMBER 11, 2017 BY RESOLUTION 2017-041; TO INCLUDE IN THE OFFER A 9.09 ACRE TRACT OWNED BY THE CITY OF PARIS SUBJECT TO CERTAIN RESERVATIONS OF RIGHTS AND FINDING A PUBLIC PURPOSE THEREFOR; MAILING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, pursuant to the bylaws of the Paris Economic Development Corporation ("PEDC"), the City Council shall review and approve all economic incentive projects involving an expenditure in excess of $400,000.00; and WHEREAS, AMERICAN SpiralWeld Pipe Company, LLC ("the Company"), a South Carolina limited liability company engaged in the business of fabricated pipe and pipe fitting manufacturing (NAICS 332996), seeks to invest $60"000,000.00 to build and operate a manufacturing plant which will employ 100 people; and WHEREAS, Paris, Texas is one of the top two finalists as a location for the above -referenced investment; and p p (", WHEREAS, the Paris Economic Development Corporation ,EDC„) and the City of, Paris desire to induce the Company to locate said plant operation in Paris, Texas because of the positive economic impact and jab base that the project will bring to the area; and WHEREAS, at its regular meeting on December 11, 2017, in Resolution No. 2017-041, a copy of which is attached hereto as Exhibit 1 and incorporated herein by reference, the City Council approved an economic development package previously approved by the PEDC Board of Directors to offer the Company as inducement to locate its new plant operation in Paris, Texas, said package including a forgivable loan on some one hundred one (101) acres; and WHEREAS, in a regular meeting on December 19�, 2017, the PEDC approved a motion by a vote of 5 ayes to 0 nays to offer an additional forty (40) acres in the Industrial Park to be added to the one hundred and one (101) acres previously offered to the Company as an incentive for the Company to locate their proposed plant in Paris, Texas, said additional parcels being identified on Exhibit 1 attached hereto and incorporated. herein by reference; and WHEREAS, included within that additional forty (40) acres is a 9.09 acre commercial tract owned by the City of Paris and commonly referred to as the "Legion Airport Properties," which tract is vacant save and except for a telecommunications tower;