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

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(Updated 01-08-18) POLICY STATEMENT CRITERIA AND GUIDELINES FOR T4.14BATEIZE-11-1 1. General Purpose and Objectives. The City of Paris (City) and Lamar County Government (County) (collectively, herein called t "Taxing Jurisdictions") are committed to enhancing the competitiveness and expansion poteenti of local industry; to attracting and encouraging new manufacturing industry and investment; improving the City of Paris, Lamar County and its infrastructure, which attracts and suppo t development and, to expanding the tax base, empioyment opportunities, and the overall qualit i of life for its citizens. Tberefore, the governing bodies of the Taxing Jurisdictions will gi 'I consideration, on a case-by-case basis, to providing tax abatements to the 1en of real aino personal property for projects that stimulate economic growth and diversification in geographic areas served by the Taxing Jurisdictions, according to state law and consistent wi these policies, criteria and guidelines. elix-tiaxis, edW-UT-AM, the tax abatement application. However, the City of Paris and Lamar County are under no obligation to provide tax abatements to any applicant - The Paris City Council acts as the lead entity for projects located in the City limits. The Lamar County Board of Commissioners acts as the lead entity for projects in Lamar County, which are located outside of the City limits. All governing bodies of the Taxing Jurisdictions have adopted like policies, criteria and guidelines and will consider tax abatement requests that qualify thereunder. 11. Definitions. Definitions are 12rovided as an A gpendix A. Ill. DesignatioR of a Reinvestment Zone. For any facility located within the area served by the Taxing Jurisdictions to be eligible for tax abatement it must med the criteria for designation as a tax abatement reinvestment zone as sei forth in the Property Redevelopment and Tax Abatement Act, Texas Tax Code Chapter 312. Th, -i procedural requirements set forth in the Property Redevelopment & Tax Abatement Act, as amended (Texas Tax Code See. 312.401 (b)). Pursuant to Texas Tax Code See. 312.2011, designation of an area as an enterprise zone under Chapter 2303 of the Texas Government Code constitutes designation of the area as a reinvestment zone without further hearing or procedural requirements other than those provided under said Chapter 2303. IV, Tax Abatement Autborized. The Taxing Jurisdictions, through their elected goveming bodies, may agree in writing with th-� INS a -W, W4. -ikW%W sitsmgi P11;1 11no "vol ("$I =ojil is LM