2018-004 Authorizing the City to be Eligible to Participate in Property Tax Abatements and Approving Guidelines and Criteria for Granting Tax Abatements

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(Updated 01-08-18) POLICY STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT part-time jobs added together require a total of 380 hours of work per week (but no such part-time job requires 40 hours of work or more per week), will equal nine and one-half (9.5) FTE jobs (3 80 hours divided by 40 hours per week equals 9.5). receive b from the a Aer. Modernization The replacement and upgrading f existing facilities,whichits he pr h increases the productive input or output, updates the technology, or substantially lowers the unit cost of operation. Modernization may result from the construction, alteration or installation of buildings, structures, fixed machinery or equipment, but shall not be for the purpose of reconditioning, refurbishing,ordeferred,m_aintenance. Personal Property tyMachine _ Machinery, equipment, tools, shelving or materials eligible under applicable law for tax— axa abatement, atement, which can be removed from an authorized facility. Property Real Prop rty or Personal Property defined herein that is eh able for tax abatement. Real Property The land within an Enterprise Zone or a Reinvestment Zone, together with all improvements and fixtures constructed or otherwise situated thereon. Tax Abatement mThe Tax Abatement Advisory Committee will be convened from time to time by the Paris Advisory Committee Economic Development Corporation to study, review and recommend tax abatements to the applicable Taxing Jurisdictions in the City of Paris and Lamar County, Texas. The Tax Abatement Advisory Committee will be composed of one person from each of the Taxing Jurisdictions: the City of Paris (the City Manager or designee), the County of Lamar (the County Judge or designee), Paris Junior College (the President or designee), the Chief Appraiser of the Lamar County Appraisal District, and the Executive Director of the Paris Economic Development Corporation. Recommendations from the Tax Abatement Advisory Committee shall be decided by majority vote of the representatives from the three taxing entities referenced above.