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Regular Council Meeting <br />September 24, 2018 <br />Page 5 <br />A Motion to approve this item was made by Council Member Trenado and seconded by <br />Council Member Knox. Motion carried, 6 ayes – 0 nays. <br />19. Discuss and act on RESOLUTION NO. 2018-025: A RESOLUTION APPROVING <br />AND AUTHORIZING A TAX ABATEMENT AGREEMENT BETWEEN THE CITY <br />OF PARIS, TEXAS AND AMERICAN SPIRALWELD PIPE COMPANY, LLC. <br />City Attorney Stephanie Harris said this was the third part of the master agreement. She <br />explained this tax abatement agreement was a seven year de-escalating abatement beginning on <br />January 1, 2020 and ending on December 31, 2026, with construction to be completed by <br />September 15, 2021. Ms. Harris also said the first two years would be a 100% tax abatement, <br />years three and four would be at 70%, year five at 50%, and years six and seven would be a 25% <br />tax abatement. Ms. Harris told Council the abatement would be only on improvements. <br />A Motion to approve this item was made by Mayor Pro -Tem Hughes and seconded by <br />Council Member Portugal. Motion carried, 6 ayes – 0 nays. <br />20. Discuss and act on the Paris Economic Development Corporation's purchase of property <br />on South Loop 286 for a New Business Park. <br />Mr. Paris explained the PEDC Board met on September 4, 2018 and approved the <br />purchase of land on the South Loop for a new business park. He said a major portion of the <br />current PEDC business park was being prepared for American SpiralWeld, and a new business <br />park would be needed for future prospects. Mr. Paris also said PEDC had set aside 1.1 million <br />dollars to purchase and prepare the land for a future prospect. <br />A Motion to approve this item was made by Mayor Pro -Tem Hughes and seconded by <br />Council Member Pilgrim. Motion carried, 6 ayes – 0 nays. <br />21. Consider and approve future events for City Council and/or City Staff pursuant to <br />Resolution No. 2004-081. <br />None were referenced. <br />22. Adjournment. <br />There being no further business, a Motion to adjourn was made by Council Member <br />Pilgrim and was seconded by Council Member Portugal, Motion carried, 6 ayes – 0 nays. The <br />meeting was adjourned at 5:55 p.m. <br />x _ <br />— _ ... — <br />DERRICKHIJGHES, MAYOR PRO -TEM <br />