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13 - Terminating Tax Abatement dated 11-24-2008 with Campbell Soup related to the Multi-Serve Beverage Line
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13 - Terminating Tax Abatement dated 11-24-2008 with Campbell Soup related to the Multi-Serve Beverage Line
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AGENDA
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taxes!on the IMPROVEMENTS and otherwise owed to the CITY shallir !i <br />Said abatementbe i" iunt equal to one hundredi` i of r assessed <br />upon the completed value of the IMPROVEMENTSon Januaryr <br />abatement commences (January 1, 2010), with this tax abatement continuing at such percentage <br />for each year during the ten (10) year term of this AGREEMENT. . be <br />in accordance applicable ad local lawand regulations or valid waiver thereof, <br />provided that the OWNER shall haveto protest • _. <br />s ,i r <br />due as a result of any such protest or contest. For the purposes of this AGREEMENT, .I <br />value of the existing real and personal property i <br />tax <br />abatement and which doeA IMPROVEMENTS (as defined <br />herein) shall be <br />deemed to be the valueas on the taxAppraisal . 4 <br />January I of the year in which this AGREEMENT is executed, said amount being <br />$130,516,540.00 i .consisting of for Land and <br />Buildings, $116,263,790.00 for tangiblePersonal Property,$15,764,230.00 of the value <br />of the tangible personal f consisting 4OWNER'Sf being <br />rf abated� throughi ! abatement which is the subject of this <br />AGREEMENT M for a period o ; 0 years beginningJanuary 1, 2010. <br />7.2 The abatement granted herein shall be subject to and governed by the POLICY� <br />STATEMENT CRITERIA AND ` . copy of <br />attached hereto as Exhibit of years of the tax abatement and the percentage <br />of abatement previously granted to OWNER in this AGREEMENTSectionfo <br />shallbe controlling over of yearsand the percentage .f.tement stated in the r <br />STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT.OWNERshall <br />comply of r performance <br />except that, in the event of a conflict between the requirements of Exhibit and this <br />AGREEMENT, r <br />71111 Ills <br />Wo COTTictOf 17twi <br />8.1 The OWNER represents and warrants that neither the PROPERTY nor the <br />IMPROVEMENTS include any real or personal property that is owned or leased by a member o <br />e City Council of the City of Paris, Texas or by a member of the Planning and Zoning <br />Commission of the City of Paris that approved or had any responsibility for the approving this <br />AGREEMENT. <br />. <br />Conditions <br />9.1 The terms and conditions of the AGREEMENT are binding upon the successors <br />and assigns of all parties hereto. <br />9.2 It is understood and agreed" performing <br />its obligations hereunder, is acting independently, r' the CITY assumes no responsibility or <br />
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