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

Home Browse Search

and WHEREAS, the City is authorized under Texas Local Government Code Chapter 380 to establish and administer economic development programs which may provide for making loans and grants of public money to promote state or local economic development and to stimulate business and commercial activity in the municipality; and WHEREAS, the City Council has adopted and readopted such an economic development program, most recently in its regular meeting on September 25, 2017; and WHEREAS, the City Council finds that a public purpose will be served in including said commercial 9,09 acre tract in the incentive package due to the significant positive economic impact associated with the construction and operation of the Company's new plant and the associated addition of at least 100 jobs to the local economy and to the return of said vacant commercial 9.09 acre tract to the tax rolls, and that such a grant is consistent with the economic development program adopted previously and the authorizing legislation therefor; and WHEREAS, notwithstanding the, foregoing, any such transfer of the property will be subject to the City's retention of the rights to all revenues due the City under an amended lease by and between the City of Paris and Cox Southwest Holdings, L,P and assigned by Cox Southwest Holdings, L.P. to Cebridge Acquisition Co., LLC and any future leases of the telecommunications tower located on said property and will be further subject to the grant of any easements necessary for the continued operation and maintenance of the, telecommunications tower and facilities referred to herein; and WHEREAS, the City Council hereby finds that it is in the best interest of the City to approve the PEDCs offer to the Company of an additional forty (40) acres as set forth herein, including the 9.09 acres owned by the City of Paris subject to the reservations of rights and necessary easements related to the telecommunications tower described herein; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF' F."ARIS, TEXAS. - Section 1., That the findings set out in the preamble of this resolution are hereby in all things approved. Section 2. That PEDC's offer of an additional forty (40) acres in the Industrial Park as set forth in Exhibit 2 attached hereto be added to the one hundred and one (101) acres for AMERICAN SpiralWeld Pipe Company, LLC as an incentive for the Company to locate their proposed plant in Paris, Texas is hereby in all things approved. Section 3. That the 9.09 acre parcel owned by the City of Paris identified as Block 305, Lot 6, City of Paris (LCAD Parcel ID No. 18627), which parcel is located within said additional forty (40) acres, shall be offered to the Company as part of the package and subject to the terms thereof, subject to the City's retention of the rights to all revenues due the City under an amended lease by and between the City of Paris and Cox Southwest