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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A RESOLUTION OF'THE CITY COUNCIL OF THE CITY OF PARIS, TEXA APPROVING AN ECONOMIC INCENTIVE PACKAGE FROM THE PAR ECONOMIC DEVELOPMENT CORPORATION TO AMERICAN SPIRALWEL PIPE COMPANY)AUTHORIZING AND DIRECTING THE CIT ATTORNEY TO PREPARE A TAX ABATEMENT AGREEMENT BE'TWEE THE CITY AND AMERICAN SPIRALWELD PIPE COMPANY, LL AUTHORIZING THE DIRECTOR OF' COMMUNITY DEVELOPMENT T CERTIFY AN APPLICATION BY AMERICAN SPIRALWELD PIPE COMPAN: LLC TO THE TEXAS' ENTERPRISE FUND; MAKING OTHER FINDINGS AN PROVISIONS RELATED TO THE SUBJECT; AND DECLARING Al EFFECTIVE DATE. WHEREAS, pursuant to the bylaws, of the PEDC', tile 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 bllSineSS of fabricated I�Ape and pipe fitting manufacturing (NAICS 332'996) 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 WHEREAS, the Paris Fconon-iic Development Corporation ("PEDC") and the City of Paris desire to induce the Company to locate said plant operation in pari s, because of the positive economic impact and job base that the project will bring to the area; and WHEREAS, in a special nleeting on December 1, 2017, the: PEDC voted to send to City Council for approval an offer of an economic incentive package to the Company in the approximate arnount of $1,283,000J)0 as an incentive for the Company Spiral Weld to locate their proposed plant in Paris, 'Texas; and WHEREAS, in addition to the econ0lT1iC incentives offered by the PEDC, the City Council wishes to offer the further inducement of a tax abatement on improvernents on real property; and WHEREAS, the City Council also desires to support the Companys application to the Office of the Governor for a grant from the Texas F n terpri se Fund, and. WHEREAS, the City Council hereby finds that it is in the best interest of the City to approve the P'EDC's offer to the Company of an economic incentive package as set forth in ExhLibit A hereto; to approve a tax abatement as set forth herein; and to SUPPOYt the company's application to the Texas Enterprise Fund;