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 designation of a reinvestment zone and execution of a tax abatement agreement. g gr went. 2. The lead Taxing Jurisdiction (typically the City of Paris) may adopt an ordinance designating a tax abatement reinvestment zone only after notice of a public hearing has been published at least seven (7) days before the date of the hearing, and all other procedural requirements of Chapter 312 of the Texas Tax Code have been satisfied. Findings In order to enter into an agreement, the Taxing in Jurisdictions must find that: 1. The terms of the proposed agreement comply with these Policies, Criteria and Guidelines. 2. There will be no substantial adverse effect on the provision of Taxing Jurisdictions' services or tax base. 3. That the planned use of the property will not constitute a hazard to public safety, health or morals. 4. Incident to approval of any ordinance designating a reinvestment zone, the Taxing Jurisdictions shall find that the improvements sought are feasible and practical and would be a benefit to the land to be included in the reinvestment zone and to the Taxing Jurisdictions _ after the expiration of the agreement. Variances Requests for variance from the provisions of these Policies, W Criteria and Guidelines may be made in writing to the Taxing Jurisdictions; provided, however, that in no event shall the term of any abatement exceed the period authorized by applicable state law. Such request shall include a complete description of the circumstances requiring a variance. Approval of a request for variance shall require the affirmative vote of three-fourths (3/4) of the members of each of the Taxing Jurisdictions' governing body. ___ --------- m.... __. _. Proposed The adoption of these Policies, Criteria and Guidelines by the Taxing Jurisdictions does not limit Agreements the discretion of the Taxing Jurisdictions' governing bodies to decide whether to enter into a Decided on specific tax abatement agreement. Nor does it limit their discretion to delegate to their employees Individual the authority to determine whether or not the Taxing Jurisdiction should consider a particular Basis application or request for tax abatement, or create any property, contract, or other legal right in any person or entity to have the Taxing Jurisdiction consider or grant a specified application or request for tax abatement. VIII. Abatement Agreement Terms and Conditions. Appendix B provides many of the terms and conditions to be included in any formal tax abatement legal agreement. IX. Amendments to Policies, Criteria and Guidelines These Policies, Criteria and Guidelines are effective for a two (2) year period from the date of their adoption, unless amended earlier by the affirmative vote of three-fourths (3/4) of the members of each governing body (City, County). For a tax abatement application or additional information contact: Paris Economic Development Corporation 1125 Bonham Street Paris, Texas 75460 Phone. 903-784 964 Fax: 903-784-2503 Website::---------------------------------- Email: ,n -, r_;'ll Email Y i 7�u � :u. M c ��m ......... ..... ............. APPENDIX A Term Definition Abatement or Tax The ll or partial . � ..._. ......_.�.�.�..... ........_lor The 1 exemption from ad valorem taxes of certain real and 7