2018-003 Approving Revision to an Offer by PEDC to American Spiralweld Pip to provide the offer of forty acres of land adn to include a 9.09 acre tract owned by the City subject to Certain Reservations

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1 w IN M 1 F a t g r w r r r x r w w r x TIVI 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 SpiralWVeld Pipe Company, LLC ("the Company")I, a South Carolina limited liability company engaged in the business of fabricated pipe and pipe fitting manufacturing (NAILS 332996), seeps to invest $60,000,0010.00 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 WHEREAS, the Paris Economic Development Corporation ("PEDC") 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 job base that the project will bring to the area; and WHEREAS, at its regular meeting on December 11, 2017, in Resolution Pio. 2017-041., a copy of which is attached hereto as Exhibit 1 and incorporated herein b reference, the City CouncilDirectorsapproved an econornic development package previously approved by the P DCBoard of to ffer 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 2 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;