2018-028 Resolution Terminating Tax Abatement Agreement with Essent PRMC L.P. dba Paris Regional Medical Center

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Criteria governing tax abatement agreements to be entered into by the City as required by the Property Redevelopment and Tax Abatement Act, as amended; and WHEREAS, the City Council of the City of Paris did find in the ORDINANCE that the Owner meets the criteria for designation as an enterprise project under the Act on the following grounds: a) that it is a "qualified business" under Section 2303.402 of the Act for it is engaged in the active conduct of a trade or business at a qualified business site and at least 25% of its new employees at the qualified business site will be residents of an enterprise zone in this State, or are economically disadvantaged individuals, b) the Owner is engaged in an "expansion, renovation, or new construction" to be completed within a predetermined period of time not to exceed five years after August 21, 2011; and c) Paris Regional Medical Center ("PRMC') is a wholly owned subsidiary of RegionalCare Hospital Partners, Inc., for which separate books and records are kept; d) there has been and will continue to be a high level of cooperation between public, private and neighborhood entities within the jurisdiction of the City of Paris, Texas; and e) the designation of Essent PRMC, LP Northward Bound as an enterprise project will contribute significantly to the achievement of the plans of the City for development and revitalization of the area in which the enterprise project will be located; and WHEREAS, the Northward Bound Project is situated within a Reinvestment Zone described or referred to in the ORDINANCE; and the contemplated use of the Northward Bound Project, and the improvements to be installed therein in the amount of $27,100,000.00, and the other terms hereof are consistent with encouraging development of said Reinvestment Zone in accordance with the purposes for which it was created and are in compliance with the City's policy on tax abatement incentives and the ORDINANCE creating such Reinvestment Zone adopted by the City and all applicable laws. Recitals Rardln. Ess,ent PRMC South Cam pus WHEREAS, under the Texas Enterprise Zone Act (Government 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 pursuant to the 2010 U.S. Census, the real property and improvements thereon known as the South Campus of the Paris Regional Medical Center Hospital belonging to Owner (the "South Campus") described in Exhibit C, attached hereto and made a part hereof, located within the City of Paris, in Lamar County, Texas, is included within an ENTERPRISE ZONE, as is shown in the website of the U.S. Census Bureau in Exhibit D, attached hereto and made a part hereof for all purposes; and WHEREAS, the contemplated use of the improvements located and to be placed at the South Campus at a cost to the Owner of at least $100,000.00 will enable the South Campus to continue to be used as an operational and viable hospital and health care facility in the City of Paris, Lamar County, Texas, for its residents and for others; and this is consistent with encouraging development of said Enterprise Zone in which the South Campus is located in accordance with the purposes for which it was created and is in compliance with the City's policy on tax abatement incentives and the ordinance creating such Enterprise Zone adopted by the City of Paris, Texas, and all applicable laws; and