2018-024 Master Economic Development Agreement between the City, PEDC and American Spiralweld Pipe

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RESOLUTION NO. 2018-024 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING A MASTER ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE CITY OF PARIS, TEXAS, PARIS ECONOMIC DEVELOPMENT CORPORATION AND AMERICAN SPIRALWELD PIPE COMPANY, LLC; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris, Texas has been presented a proposed Master Economic Development Agreement (the "Master Agreement") by and between the City of Paris, Texas ("City"), the Paris Economic Development Corporation ("PEDC'), and American Spi'ralWeld Pipe Company., LLC ("American"), providing for an economic incentive package to American related to commercial and industrial tax improvements, a copy of which is attached hereto as Exhibit 1 and incorporated herein by reference, hereinafter called the "Agreement"; and, WHEREAS, the City of Paries, Texas and the Paris Economic Development Corporation wish to encourage and incentivize industrial development within the City; and WHEREAS, American SpiralWeld Pipe Company, LLC wishes to construct and operate a state of the art spiral weld pipe mill within the City; and WHEREAS, the City, a home rule municipal corporation, and PEDC own real property suitable for the construction of such spiral weld pipe mill; and WHEREAS, the City has heretofore adopted an economic development program pursuant to TEx.Loc.Gov 0 T CODE CHAPTER 380; and WHEREAS, the PEDC is a Type A Texas non-profit economic development corporation with the duties and authority granted to it by TEx.Loc.GovPT CODE CHAPTERS S01 AND $04; and WHEREAS, the City Council of the City of Paris did heretofore, on the 22°d day o f January, 2018, in Resolution No. 2018-004,, elect to be eligible to participate in tax abatement agreements in order to maintain and enhance the commercial and industrial economic and employment base of the Paris area for the long term interest and benefit of the City and its citizens; and, WHEREAS, under the Texas Enterprise Zone Act (TEx.GOV"T CODE CHAPTER 2303),, the designation of an area as an Enterprise Zone also constitutes designation of the area as a reinvestment zone (the "Reinvestment Zone"),; and WHEREAS, pursuant to the 2010 Census, the Property granted herein to American by the City and PEDC within City of Paris, Texas , is included within an Enterprise Zone; and